DA Davidson Increases WD-40 (NASDAQ:WDFC) Price Target to $322.00

WD-40 (NASDAQ:WDFC) had its price target hoisted by research analysts at DA Davidson from $303.00 to $322.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the specialty chemicals company’s stock. DA Davidson’s price target suggests a potential upside of 28.16% from the stock’s current price.

WD-40 Stock Performance

NASDAQ:WDFC opened at $251.25 on Friday. WD-40 has a 52 week low of $194.09 and a 52 week high of $278.78. The company has a fifty day simple moving average of $256.53 and a two-hundred day simple moving average of $242.40. The company has a quick ratio of 1.56, a current ratio of 2.27 and a debt-to-equity ratio of 0.40. The company has a market cap of $3.40 billion, a price-to-earnings ratio of 49.36 and a beta of -0.08.

WD-40 (NASDAQ:WDFC) last issued its quarterly earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.34 by ($0.11). WD-40 had a net margin of 12.07% and a return on equity of 32.43%. The company had revenue of $156.00 million during the quarter, compared to analyst estimates of $149.20 million. During the same quarter last year, the firm earned $1.21 EPS. The business’s revenue was up 11.0% on a year-over-year basis. As a group, equities analysts anticipate that WD-40 will post 5.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On WD-40

A number of hedge funds have recently bought and sold shares of WDFC. Profit Investment Management LLC increased its holdings in shares of WD-40 by 0.3% in the 2nd quarter. Profit Investment Management LLC now owns 16,067 shares of the specialty chemicals company’s stock worth $3,529,000 after acquiring an additional 43 shares during the period. Bridge City Capital LLC raised its holdings in shares of WD-40 by 0.8% during the first quarter. Bridge City Capital LLC now owns 5,991 shares of the specialty chemicals company’s stock valued at $1,518,000 after buying an additional 45 shares during the last quarter. Arizona State Retirement System boosted its position in shares of WD-40 by 1.8% during the second quarter. Arizona State Retirement System now owns 3,794 shares of the specialty chemicals company’s stock worth $833,000 after buying an additional 68 shares during the period. Covestor Ltd grew its holdings in WD-40 by 57.7% in the 1st quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock worth $55,000 after buying an additional 79 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in WD-40 by 34.9% in the 3rd quarter. GAMMA Investing LLC now owns 325 shares of the specialty chemicals company’s stock worth $84,000 after buying an additional 84 shares in the last quarter. 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.