In a report released yesterday, Bonnie Herzog from Wells Fargo maintained a Hold rating on Clorox (CLX), with a price target of $153. The company’s shares closed yesterday at $156.14.
Herzog commented:
“We were encouraged by mgmt’s confidence in the 2H turnaround and believe issues are isolated within Charcoal/Glad as the rest of the portfolio is performing well (see our note here) That said, while valuation has become more reasonable, we think top-line headwinds are likely to weigh on the stock’s overall narrative, and shares will likely remain range-bound in the near-term until fundamental improvement becomes evident over the next few quarters. Given weak relative top-line performance and near-term challenges, we lower our EPS estimates and maintain our Market Perform rating.”
According to TipRanks.com, Herzog is a 3-star analyst with an average return of 2.4% and a 59.2% success rate. Herzog covers the Consumer Goods sector, focusing on stocks such as Constellation Brands Inc, Edgewell Personal Care, and Monster Beverage Corp.
Currently, the analyst consensus on Clorox is a Hold with an average price target of $153.50.
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Based on Clorox’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $1.55 billion and net profit of $187 million. In comparison, last year the company earned revenue of $1.69 billion and had a net profit of $217 million.
Based on the recent corporate insider activity of 61 insiders, corporate insider sentiment is negative on the stock.
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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.
