Clorox (NYSE:CLX) Price Target Cut to $110.00 by Analysts at Morgan Stanley

Clorox (NYSE:CLX) had its price target lowered by equities research analysts at Morgan Stanley from $136.00 to $110.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential upside of 10.54% from the company’s current price.

A number of other research firms have also recently issued reports on CLX. Wall Street Zen upgraded Clorox from a “sell” rating to a “hold” rating in a research report on Saturday, February 7th. The Goldman Sachs Group reduced their price objective on shares of Clorox from $110.00 to $94.00 and set a “sell” rating for the company in a report on Wednesday, January 7th. Weiss Ratings raised Clorox from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft cut their price objective on Clorox from $101.00 to $100.00 and set a “hold” rating for the company in a research report on Monday. Finally, BNP Paribas Exane raised shares of Clorox from an “underperform” rating to a “neutral” rating in a research note on Wednesday, February 11th. One analyst has rated the stock with a Buy rating, twelve have given a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Clorox has a consensus rating of “Reduce” and a consensus price target of $111.33.

Clorox Stock Down 0.1%

Shares of CLX stock opened at $99.51 on Wednesday. Clorox has a 12 month low of $96.66 and a 12 month high of $143.96. The company has a quick ratio of 0.48, a current ratio of 0.74 and a debt-to-equity ratio of 71.03. The firm has a market cap of $12.03 billion, a PE ratio of 16.21, a price-to-earnings-growth ratio of 0.51 and a beta of 0.65. The stock has a 50 day moving average of $112.06 and a 200-day moving average of $109.79.

Clorox (NYSE:CLX) last announced its earnings results on Tuesday, February 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.43 by ($0.04). Clorox had a return on equity of 383.01% and a net margin of 11.17%.The company had revenue of $1.67 billion for the quarter, compared to the consensus estimate of $1.64 billion. During the same period last year, the firm posted $1.55 EPS. The company’s revenue was down .8% compared to the same quarter last year. On average, equities analysts predict that Clorox will post 5.89 EPS for the current year.

Hedge Funds Weigh In On Clorox

A number of large investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Clorox by 4.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,380 shares of the company’s stock worth $1,970,000 after buying an additional 514 shares in the last quarter. Woodline Partners LP grew its stake in shares of Clorox by 253.7% in the first quarter. Woodline Partners LP now owns 10,407 shares of the company’s stock valued at $1,532,000 after buying an additional 7,465 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Clorox by 1.7% during the second quarter. Baird Financial Group Inc. now owns 25,032 shares of the company’s stock worth $3,006,000 after buying an additional 424 shares during the last quarter. Jump Financial LLC raised its position in Clorox by 173.5% during the second quarter. Jump Financial LLC now owns 12,491 shares of the company’s stock worth $1,500,000 after acquiring an additional 7,924 shares in the last quarter. Finally, Bank of Nova Scotia lifted its stake in Clorox by 26.2% in the second quarter. Bank of Nova Scotia now owns 16,141 shares of the company’s stock valued at $1,938,000 after acquiring an additional 3,352 shares during the last quarter. Institutional investors own 78.53% of the company’s stock.

Clorox Company Profile

The Clorox Company is a leading manufacturer and marketer of consumer and professional products designed to help people care for their homes and live healthy, sustainable lives. Its portfolio spans cleaning and household products, food and beverages, water filtration systems and cat litter, serving both retail and institutional customers. The company’s flagship bleach and disinfecting products are well known in the United States and many international markets, where they help prevent the spread of germs in homes, hospitals, schools and businesses.

Clorox’s diverse brand lineup includes liquid bleach and surface cleaners, eco-friendly cleaning tools, food preservation and preparation items, charcoal grills and briquettes, specialty foods and beverages, pet care products and personal care lines.