DA Davidson Reiterates “Buy” Rating for WD-40 (NASDAQ:WDFC)

WD-40 (NASDAQ:WDFC)‘s stock had its “buy” rating reiterated by equities research analysts at DA Davidson in a report issued on Monday,Benzinga reports. They presently have a $322.00 price target on the specialty chemicals company’s stock. DA Davidson’s price target would suggest a potential upside of 15.55% from the company’s current price.

Separately, Jefferies Financial Group lifted their price objective on shares of 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 Trading Down 0.1 %

Shares of WD-40 stock traded down $0.35 on Monday, hitting $278.66. 54,386 shares of the company’s stock traded hands, compared to its average volume of 106,157. The firm’s 50-day moving average price is $263.00 and its two-hundred day moving average price is $247.52. 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 stock has a market capitalization of $3.78 billion, a PE ratio of 54.53 and a beta of -0.08. WD-40 has a one year low of $211.03 and a one year high of $292.36.

WD-40 (NASDAQ:WDFC) last released 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). WD-40 had a net margin of 11.79% and a return on equity of 31.53%. The company had revenue of $156.00 million during the quarter, compared to the consensus estimate of $149.20 million. During the same quarter in the prior year, the company posted $1.21 EPS. The company’s revenue for the quarter was up 11.0% compared to the same quarter last year. On average, research analysts expect that WD-40 will post 5.36 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William B. Noble sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $289.70, for a total value of $289,700.00. Following the completion of the transaction, the director now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.75% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of WDFC. Vanguard Group Inc. raised its stake 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 purchasing an additional 6,532 shares during the period. State Street Corp raised its position in WD-40 by 1.8% in the 3rd quarter. State Street Corp now owns 523,154 shares of the specialty chemicals company’s stock valued at $134,911,000 after buying an additional 9,418 shares during the last quarter. Geode Capital Management LLC lifted its stake in WD-40 by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 378,115 shares of the specialty chemicals company’s stock valued at $97,524,000 after acquiring an additional 12,943 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in WD-40 by 1.7% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 321,760 shares of the specialty chemicals company’s stock worth $82,975,000 after acquiring an additional 5,381 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of WD-40 by 2.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 307,097 shares of the specialty chemicals company’s stock worth $67,452,000 after acquiring an additional 5,893 shares in the last quarter. Institutional investors own 91.52% of the company’s stock.

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.