In a report released today, Rupesh Parikh from Oppenheimer reiterated a Buy rating on Church & Dwight (CHD), with a price target of $82. The company’s shares closed on Friday at $73.89, close to its 52-week high of $74.14.
Parikh observed:
“With CHD shares above our prior $73 PT, we spent time revisiting our investment thesis and updating our views on shares. Since the end of 2017, CHD shares are up 47% outperforming an 8% gain in the S&P 500. Sell-side sentiment still remains very negative on CHD’s prospects with just 6 buys and 17 holds/sells, which remains an ongoing positive (P&G 11 buys and 16 holds/sells for comparative purposes). As we look forward, we believe the combination of financial benefits from the FLAWLESS acquisition, ongoing momentum in CHD’s existing business, further M&A, and a more favorable interest rate backdrop should help to sustain peakish valuation parameters and drive more upside. Our PT goes to $82 from $73, and we reiterate CHD as a top pick.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 16.6% and a 66.7% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Wal-Mart Stores Inc.
The word on The Street in general, suggests a Hold analyst consensus rating for Church & Dwight with a $67.92 average price target, a -8.1% downside from current levels. In a report issued on April 9, SunTrust Robinson also maintained a Buy rating on the stock with a $75 price target.
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The company has a one-year high of $74.14 and a one-year low of $44.87. Currently, Church & Dwight has an average volume of 1.83M.
Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is negative on the stock. Most recently, in January 2019, Maynadier Patrick De, the EVP, GC & Sec of CHD sold 139,320 shares for a total of $9,294,037.
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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.
