Wells Fargo analyst Bonnie Herzog maintained a Hold rating on Clorox (CLX) yesterday and set a price target of $153. The company’s shares closed yesterday at $149.64.
Herzog said:
“We note that FY19 was pressured by one-time headwinds from Nutranext dilution and tariff headwinds (a combined -3pts to EPS growth), along with a pullback on share repo plans early in the year (which could be a tailwind in FY20). In FY20, CLX should benefit from: (1) on gross margin (particularly vs. an easy comp in Nutranext, which is expected to be accretive. However, a higher tax rate could be a potential wild card. Therefore, we think a likely range for FY20 EPS guidance is $6.50-$6.70 (+3- 6% growth off the FY19 mid-point), which compares to our/consensus $6.69/$6.56 ests.”
According to TipRanks.com, Herzog is a 4-star analyst with an average return of 3.6% and a 59.8% success rate. Herzog covers the Consumer Goods sector, focusing on stocks such as Coca-Cola European Partners plc, The Estée Lauder Companies Inc, and Constellation Brands Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Clorox with a $152.75 average price target, a 2.1% upside from current levels. In a report issued on May 20, Argus Research also downgraded the stock to Hold.
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Clorox’s market cap is currently $18.85B and has a P/E ratio of 24.53. The company has a Price to Book ratio of 24.50.
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The Clorox Co. engages in the manufacture and marketing of consumer and institutional products. It operates through the following business segments: Cleaning, Lifestyle, Household, International, and Corporate. The Cleaning segment consists of laundry, home care, and professional products marketed and sold in the United States.
