In a report released today, Rupesh Parikh from Oppenheimer reiterated a Buy rating on Church & Dwight (NYSE: CHD), with a price target of $60. The company’s shares closed yesterday at $53.79.
Parikh observed:
“With CHD shares running past our prior $54 PT, we spent time updating our views on the shares in conjunction with our interest rate update published this morning. The core parts of our investment thesis remain intact, consistent with our upgrade earlier in a note title CHD at $47.42). Following a 17% rally off the early June lows (vs. +1% in the S&P 500), CHD shares now trade more in line with historical peak valuation parameters at roughly 23x NTM P/E. Given our expectations for 3%-ish core sales growth, high single-digit EPS growth, optionality related to M&A, and stabilizing longer-term interest rates, we now assume a higher valuation and are lifting our PT to $60.”
According to TipRanks.com, Parikh is a 5-star analyst with an average return of 15.8% and a 61.7% success rate. Parikh covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, United Natural Foods, and Wal-Mart Stores Inc.
Currently, the analyst consensus on Church & Dwight is a Moderate Buy with an average price target of $52.83, a -1.8% downside from current levels. In a report issued on July 9, Jefferies also reiterated a Buy rating on the stock with a $62 price target.
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Church & Dwight’s market cap is currently $13.15B and has a P/E ratio of 17.69. The company has a Price to Book ratio of 6.14.
Based on the recent corporate insider activity of 38 insiders, corporate insider sentiment is negative on the stock. Last month, Matthew Farrell, the President & CEO of CHD sold 8,513 shares for a total of $432,631.
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.
