Colgate-Palmolive (NYSE:CL) Stock Price Expected to Rise, Bank of America Analyst Says

Colgate-Palmolive (NYSE:CL) had its target price increased by research analysts at Bank of America from $90.00 to $100.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price target would indicate a potential upside of 10.76% from the company’s previous close.

CL has been the subject of a number of other reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Colgate-Palmolive in a report on Wednesday, January 21st. Argus reiterated a “hold” rating on shares of Colgate-Palmolive in a research note on Thursday, December 11th. Royal Bank Of Canada upgraded Colgate-Palmolive from a “sector perform” rating to an “outperform” rating and set a $88.00 price objective for the company in a research note on Tuesday, December 9th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $94.00 target price on shares of Colgate-Palmolive in a research report on Saturday. Finally, UBS Group lifted their price target on shares of Colgate-Palmolive from $90.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, Colgate-Palmolive presently has a consensus rating of “Moderate Buy” and an average target price of $92.44.

Colgate-Palmolive Stock Up 5.9%

Shares of NYSE CL opened at $90.28 on Monday. The stock has a market capitalization of $72.77 billion, a PE ratio of 34.46, a P/E/G ratio of 6.09 and a beta of 0.29. The company has a quick ratio of 0.27, a current ratio of 0.42 and a debt-to-equity ratio of 5.90. The firm has a fifty day moving average of $80.77 and a 200-day moving average of $81.34. Colgate-Palmolive has a 52-week low of $74.54 and a 52-week high of $100.18.

Colgate-Palmolive (NYSE:CL) last posted its earnings results on Friday, January 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.91 by $0.04. Colgate-Palmolive had a net margin of 10.45% and a return on equity of 353.72%. The firm had revenue of $5.23 billion during the quarter, compared to the consensus estimate of $5.13 billion. During the same quarter in the prior year, the company earned $0.91 EPS. The company’s revenue was up 5.8% on a year-over-year basis. On average, analysts anticipate that Colgate-Palmolive will post 3.75 EPS for the current year.

Institutional Investors Weigh In On Colgate-Palmolive

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Colgate-Palmolive by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 83,947,987 shares of the company’s stock valued at $6,633,570,000 after buying an additional 1,026,985 shares during the period. Norges Bank purchased a new stake in Colgate-Palmolive in the 2nd quarter worth approximately $960,390,000. Invesco Ltd. boosted its position in Colgate-Palmolive by 13.1% during the third quarter. Invesco Ltd. now owns 8,467,993 shares of the company’s stock valued at $676,931,000 after purchasing an additional 978,943 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in shares of Colgate-Palmolive by 46.7% during the 3rd quarter. Diamond Hill Capital Management Inc. now owns 8,077,549 shares of the company’s stock valued at $645,719,000 after buying an additional 2,572,796 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in Colgate-Palmolive by 5.1% in the third quarter. Ameriprise Financial Inc. now owns 6,423,764 shares of the company’s stock worth $517,167,000 after acquiring an additional 314,584 shares in the last quarter. Institutional investors and hedge funds own 80.41% of the company’s stock.

About Colgate-Palmolive

Colgate-Palmolive Company is a global consumer products company with a long history in household and personal care categories. The business traces its roots to the early 19th century and has evolved into a multinational manufacturer and marketer of everyday consumer goods focused on health, hygiene and home care.

The company’s core activities center on oral care, personal care, home care and pet nutrition. Its product portfolio includes toothpaste, toothbrushes and mouthwash in oral care; soaps, body washes and deodorants in personal care; dishwashing liquids, surface cleaners and other household products in home care; and scientifically formulated pet foods under its pet nutrition business.