WD-40 (NASDAQ:WDFC) Upgraded at BidaskClub

BidaskClub upgraded shares of WD-40 (NASDAQ:WDFC) from a hold rating to a buy rating in a research report released on Wednesday, BidAskClub reports.

A number of other equities analysts also recently issued reports on WDFC. Zacks Investment Research downgraded WD-40 from a hold rating to a sell rating in a research report on Friday, June 19th. DA Davidson reduced their price target on WD-40 from $225.00 to $212.00 and set a buy rating on the stock in a research report on Monday, April 13th.

Shares of NASDAQ:WDFC opened at $197.01 on Wednesday. The firm has a 50 day moving average of $188.86 and a 200 day moving average of $185.82. The company has a market capitalization of $2.70 billion, a price-to-earnings ratio of 51.17 and a beta of -0.05. The company has a quick ratio of 1.21, a current ratio of 1.66 and a debt-to-equity ratio of 0.46. WD-40 has a 52 week low of $151.16 and a 52 week high of $211.68.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings results on Thursday, April 9th. The specialty chemicals company reported $1.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.21 by ($0.17). The business had revenue of $100.05 million for the quarter, compared to analyst estimates of $103.10 million. WD-40 had a return on equity of 35.92% and a net margin of 12.70%. The business’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the company posted $1.14 earnings per share. On average, sell-side analysts expect that WD-40 will post 4.21 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 17th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend is Thursday, July 16th. WD-40’s dividend payout ratio (DPR) is presently 66.67%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC grew its holdings in shares of WD-40 by 1.0% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 7,432 shares of the specialty chemicals company’s stock valued at $1,354,000 after buying an additional 75 shares during the last quarter. State Street Corp grew its holdings in shares of WD-40 by 7.3% during the first quarter. State Street Corp now owns 451,249 shares of the specialty chemicals company’s stock valued at $90,633,000 after buying an additional 30,641 shares during the last quarter. Royal Bank of Canada grew its holdings in shares of WD-40 by 35.2% during the first quarter. Royal Bank of Canada now owns 19,132 shares of the specialty chemicals company’s stock valued at $3,843,000 after buying an additional 4,983 shares during the last quarter. State of Tennessee Treasury Department grew its holdings in shares of WD-40 by 36.4% during the first quarter. State of Tennessee Treasury Department now owns 8,906 shares of the specialty chemicals company’s stock valued at $1,789,000 after buying an additional 2,377 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in shares of WD-40 by 38.4% during the first quarter. HighTower Advisors LLC now owns 2,654 shares of the specialty chemicals company’s stock valued at $532,000 after buying an additional 736 shares during the last quarter. 88.58% of the stock is currently owned by hedge funds and other institutional investors.

About WD-40

WD-40 Company develops and sells maintenance products, and homecare and cleaning products in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.

See Also: Return on Equity (ROE)

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