WD-40 (NASDAQ:WDFC) Earns “Buy” Rating from DA Davidson

WD-40 (NASDAQ:WDFC)‘s stock had its “buy” rating reaffirmed by DA Davidson in a note issued to investors on Monday,Benzinga reports. They presently have a $322.00 price target on the specialty chemicals company’s stock. DA Davidson’s price target suggests a potential upside of 15.29% from the company’s current price.

Separately, Jefferies Financial Group upped their price objective on WD-40 from $250.00 to $280.00 and gave the stock a “hold” rating in a research note on Friday, October 18th.

WD-40 Price Performance

Shares of NASDAQ WDFC opened at $279.29 on Monday. WD-40 has a twelve month low of $211.03 and a twelve month high of $292.36. The company has a current ratio of 2.47, a quick ratio of 1.70 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $3.78 billion, a price-to-earnings ratio of 54.66 and a beta of -0.08. The business has a 50 day simple moving average of $263.41 and a 200-day simple moving average of $247.86.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings data on Thursday, October 17th. The specialty chemicals company reported $1.23 EPS for the quarter, missing analysts’ consensus estimates of $1.34 by ($0.11). The company had revenue of $156.00 million for the quarter, compared to the consensus estimate of $149.20 million. WD-40 had a return on equity of 31.53% and a net margin of 11.79%. WD-40’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 earnings per share. As a group, equities research analysts expect that WD-40 will post 5.36 earnings per share for the current year.

Insider Buying and Selling

In other WD-40 news, Director William B. Noble sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $289.70, for a total transaction of $289,700.00. Following the completion of the transaction, the director now owns 7,999 shares in the company, valued at approximately $2,317,310.30. The trade was a 11.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.75% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in WDFC. Millennium Management LLC boosted its position in WD-40 by 80.5% during the 2nd quarter. Millennium Management LLC now owns 69,650 shares of the specialty chemicals company’s stock worth $15,298,000 after acquiring an additional 31,055 shares during the period. Barclays PLC boosted its position in WD-40 by 309.7% during the 3rd quarter. Barclays PLC now owns 37,094 shares of the specialty chemicals company’s stock worth $9,566,000 after acquiring an additional 28,039 shares during the period. DF Dent & Co. Inc. boosted its position in WD-40 by 27.3% during the 3rd quarter. DF Dent & Co. Inc. now owns 66,993 shares of the specialty chemicals company’s stock worth $17,276,000 after acquiring an additional 14,358 shares during the period. Geode Capital Management LLC boosted its position in WD-40 by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 378,115 shares of the specialty chemicals company’s stock worth $97,524,000 after acquiring an additional 12,943 shares during the period. Finally, Lazard Asset Management LLC boosted its position in WD-40 by 83.6% during the 1st quarter. Lazard Asset Management LLC now owns 26,226 shares of the specialty chemicals company’s stock worth $6,642,000 after acquiring an additional 11,939 shares during the period. Institutional investors and hedge funds own 91.52% of the company’s stock.

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 provides multi-purpose maintenance products that include aerosol sprays, non-aerosol trigger sprays, precision pens, and in liquid-bulk form products under the WD-40 Multi-Use brand name; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bike-specific products.