WD-40 (NASDAQ:WDFC) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of WD-40 (NASDAQ:WDFC) from a hold rating to a strong-buy rating in a research note released on Tuesday,Zacks.com reports.

WDFC has been the subject of a number of other reports. Weiss Ratings lowered shares of WD-40 from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Jefferies Financial Group reaffirmed a “hold” rating on shares of WD-40 in a report on Friday, July 10th. Northcoast Research upgraded shares of WD-40 to a “strong-buy” rating in a research note on Wednesday, June 24th. William Blair began coverage on shares of WD-40 in a report on Monday, April 6th. They issued an “outperform” rating for the company. Finally, DA Davidson boosted their price target on shares of WD-40 from $270.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, July 10th. Two research analysts have rated the stock with a Strong Buy rating, two have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, WD-40 has an average rating of “Buy” and a consensus target price of $305.00.

WD-40 Stock Performance

Shares of WDFC opened at $249.40 on Tuesday. The stock’s 50-day simple moving average is $222.26 and its 200 day simple moving average is $220.43. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 37.90 and a beta of 0.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.95 and a current ratio of 2.65. WD-40 has a 52-week low of $175.38 and a 52-week high of $298.90.

WD-40 (NASDAQ:WDFC) last posted its earnings results on Thursday, July 9th. The specialty chemicals company reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.75. WD-40 had a return on equity of 33.53% and a net margin of 13.23%.The business had revenue of $195.12 million during the quarter, compared to analyst estimates of $172.79 million. During the same quarter in the previous year, the firm earned $1.54 EPS. The company’s quarterly revenue was up 24.3% compared to the same quarter last year. WD-40 has set its FY 2026 guidance at 6.050-6.350 EPS. Research analysts forecast that WD-40 will post 6.26 EPS for the current fiscal year.

WD-40 Dividend Announcement

The firm 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 $1.02 per share. The ex-dividend date of this dividend is Friday, July 17th. This represents a $4.08 annualized dividend and a dividend yield of 1.6%. WD-40’s payout ratio is presently 62.01%.

Institutional Investors Weigh In On WD-40

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Fortitude Family Office LLC grew its stake in WD-40 by 4,133.3% in the 4th quarter. Fortitude Family Office LLC now owns 127 shares of the specialty chemicals company’s stock worth $25,000 after buying an additional 124 shares in the last quarter. Quarry LP raised its position in shares of WD-40 by 1,462.5% during the 3rd quarter. Quarry LP now owns 125 shares of the specialty chemicals company’s stock valued at $25,000 after buying an additional 117 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of WD-40 by 207.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 157 shares of the specialty chemicals company’s stock valued at $36,000 after buying an additional 106 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in shares of WD-40 by 400.0% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 215 shares of the specialty chemicals company’s stock worth $42,000 after acquiring an additional 172 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in shares of WD-40 by 195.4% during the 3rd quarter. Parallel Advisors LLC now owns 257 shares of the specialty chemicals company’s stock worth $51,000 after acquiring an additional 170 shares during the last quarter. 91.52% of the stock is owned by hedge funds and other institutional investors.

WD-40 Company Profile

WD-40 Company, headquartered in San Diego, California, is best known for its flagship WD-40® Multi-Use Product, a water-displacing spray used for lubrication, rust prevention and cleaning. Since its introduction in 1953 by the Rocket Chemical Company, the WD-40 brand has become a household and industrial staple. Over time, the company has broadened its portfolio to include complementary maintenance and cleaning brands such as 3-IN-ONE® oils, Lava® hand cleaners, Solvol® solvents, Spot Shot® stain removers and X-14® cleaning products.

WD-40 Company distributes its products in more than 176 countries through retail, industrial and automotive channels.