Clorox (NYSE:CLX) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Clorox (NYSE:CLX) had its price target increased by equities research analysts at JPMorgan Chase & Co. from $167.00 to $171.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 7.93% from the stock’s current price.

A number of other brokerages have also recently issued reports on CLX. Jefferies Financial Group raised shares of Clorox from a “hold” rating to a “buy” rating and upped their price objective for the company from $174.00 to $187.00 in a research note on Tuesday, October 1st. TD Cowen raised shares of Clorox from a “sell” rating to a “hold” rating and upped their price objective for the company from $155.00 to $170.00 in a research note on Wednesday, November 6th. StockNews.com cut shares of Clorox from a “buy” rating to a “hold” rating in a research report on Sunday, January 5th. DA Davidson increased their price target on shares of Clorox from $153.00 to $171.00 and gave the company a “neutral” rating in a research report on Monday, November 4th. Finally, Wells Fargo & Company raised shares of Clorox from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $155.00 to $157.00 in a research report on Tuesday, January 7th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Clorox currently has a consensus rating of “Hold” and an average price target of $157.23.

Clorox Price Performance

Shares of NYSE:CLX opened at $158.43 on Thursday. The company’s fifty day moving average price is $164.48 and its 200-day moving average price is $156.16. The firm has a market capitalization of $19.61 billion, a price-to-earnings ratio of 55.20, a PEG ratio of 2.90 and a beta of 0.42. Clorox has a one year low of $127.60 and a one year high of $171.37. The company has a debt-to-equity ratio of 11.08, a current ratio of 1.00 and a quick ratio of 0.62.

Clorox (NYSE:CLX) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.86 EPS for the quarter, topping analysts’ consensus estimates of $1.36 by $0.50. Clorox had a net margin of 4.78% and a return on equity of 316.08%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.64 billion. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 27.0% compared to the same quarter last year. On average, equities research analysts anticipate that Clorox will post 6.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. State Street Corp increased its stake in shares of Clorox by 3.1% in the 3rd quarter. State Street Corp now owns 8,182,109 shares of the company’s stock worth $1,332,947,000 after acquiring an additional 245,525 shares in the last quarter. Mizuho Securities USA LLC increased its stake in shares of Clorox by 46,877.8% in the 3rd quarter. Mizuho Securities USA LLC now owns 4,500,000 shares of the company’s stock worth $733,095,000 after acquiring an additional 4,490,421 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Clorox by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,028,333 shares of the company’s stock worth $491,713,000 after acquiring an additional 33,970 shares in the last quarter. Stifel Financial Corp increased its stake in shares of Clorox by 1.7% in the 3rd quarter. Stifel Financial Corp now owns 2,334,826 shares of the company’s stock worth $380,370,000 after acquiring an additional 37,967 shares in the last quarter. Finally, Van ECK Associates Corp increased its stake in shares of Clorox by 2.2% in the 3rd quarter. Van ECK Associates Corp now owns 1,492,717 shares of the company’s stock worth $237,372,000 after acquiring an additional 31,510 shares in the last quarter. 78.53% of the stock is currently owned by institutional investors.

About Clorox

The Clorox Company manufactures and markets consumer and professional products worldwide. It operates through four segments: Health and Wellness, Household, Lifestyle, and International. The Health and Wellness segment offers cleaning products, such as laundry additives and home care products primarily under the Clorox, Clorox2, Scentiva, Pine-Sol, Liquid-Plumr, Tilex, and Formula 409 brands; professional cleaning and disinfecting products under the CloroxPro and Clorox Healthcare brands; professional food service products under the Hidden Valley brand; and vitamins, minerals and supplement products under the RenewLife, Natural Vitality, NeoCell, and Rainbow Light brands in the United States.