Analyst Explains Why They Upgraded Their Rating on Church & Dwight (CHD)


In a report released today, Rupesh Parikh from Oppenheimer upgraded Church & Dwight (CHD) to Buy, with a price target of $73. The company’s shares closed yesterday at $66.11, close to its 52-week high of $67.93.

Parikh noted:

“Yesterday, we spent time with CEO Matt Farrell, CFO Rick Dierker, EVP and EVP the company’s headquarters in Ewing, NJ. The company does not comment on intra- quarter trends. The tone of management remains upbeat. We overall walked away still confident in CHD’s ability to deliver on evergreen targets and execute on the M&A front. Please see our top 10 takeaways inside. We reiterate CHD as our top CPG pick. CHD shares are now up 44% off the late April lows vs. a 3% gain in the S&P 500. From here, we believe delivery of evergreen targets and some level of M&A ‎could be necessary to achieve our new price objective.”

According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.5% and a 64.7% success rate. Parikh covers the Services sector, focusing on stocks such as United Natural Foods, Wal-Mart Stores Inc, and Sprouts Farmers.

The word on The Street in general, suggests a Hold analyst consensus rating for Church & Dwight with a $63.17 average price target, a -4.4% downside from current levels. In a report issued on October 29, Jefferies also assigned a Buy rating to the stock with a $68 price target.

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The company has a one-year high of $67.93 and a one-year low of $43.96. Currently, Church & Dwight has an average volume of 1.55M.

Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is negative on the stock. Earlier this month, James Craigie, a Director at CHD sold 300,000 shares for a total of $19,926,000.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Church & Dwight Co., Inc. engages in the development, manufacture, and market of household, personal care, and specialty products. It operates through the following segments: Consumer Domestic, Consumer International, and Specialty Products.

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