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

WD-40 (NASDAQ:WDFC)‘s stock had its “buy” rating reissued by investment analysts at DA Davidson in a report issued on Monday,Benzinga reports. They currently have a $322.00 target price on the specialty chemicals company’s stock. DA Davidson’s price target would suggest a potential upside of 15.29% from the stock’s current price.

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

WD-40 Stock Performance

NASDAQ WDFC opened at $279.29 on Monday. The firm has a market capitalization of $3.78 billion, a P/E ratio of 54.66 and a beta of -0.08. WD-40 has a 1-year low of $211.03 and a 1-year high of $292.36. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.47 and a quick ratio of 1.70. The business’s 50-day simple moving average is $263.41 and its 200-day simple moving average is $247.86.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Thursday, October 17th. The specialty chemicals company reported $1.23 EPS for the quarter, missing the consensus estimate of $1.34 by ($0.11). The company had revenue of $156.00 million for the quarter, compared to analyst estimates of $149.20 million. WD-40 had a return on equity of 31.53% and a net margin of 11.79%. The business’s revenue was up 11.0% on a year-over-year basis. During the same period last year, the firm posted $1.21 earnings per share. Equities analysts predict that WD-40 will post 5.36 EPS for the current year.

Insider Buying and Selling at WD-40

In other WD-40 news, Director William B. Noble sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $256.98, for a total value of $205,584.00. Following the transaction, the director now directly owns 8,999 shares of the company’s stock, valued at $2,312,563.02. This represents a 8.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.75% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On WD-40

Institutional investors have recently made changes to their positions in the business. Acadian Asset Management LLC raised its position in shares of WD-40 by 1,131.2% in the 1st quarter. Acadian Asset Management LLC now owns 4,063 shares of the specialty chemicals company’s stock valued at $1,023,000 after purchasing an additional 3,733 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of WD-40 by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 1,623,994 shares of the specialty chemicals company’s stock valued at $411,374,000 after acquiring an additional 6,532 shares during the last quarter. Quest Partners LLC bought a new stake in shares of WD-40 in the 2nd quarter valued at approximately $547,000. Algert Global LLC increased its holdings in shares of WD-40 by 173.2% in the 2nd quarter. Algert Global LLC now owns 4,820 shares of the specialty chemicals company’s stock valued at $1,059,000 after acquiring an additional 3,056 shares during the last quarter. Finally, Bleakley Financial Group LLC increased its holdings in shares of WD-40 by 2.9% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,079 shares of the specialty chemicals company’s stock valued at $1,052,000 after acquiring an additional 115 shares during the last quarter. 91.52% of the stock is owned by institutional investors and hedge funds.

WD-40 Company Profile

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.