Colgate-Palmolive (CL) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Colgate-Palmolive (NYSE:CL) from a hold rating to a buy rating in a report published on Monday morning. Zacks Investment Research currently has $84.00 price target on the stock.
According to Zacks, “Colgate has outperformed the industry in the last three months. The company is encouraged by the progress on the Global Growth and Efficiency Program along with additional savings anticipated from the recent expansion of the program. Moreover, the company has been infamous among investors with its meet or beat earnings track record. Though it posted in-line earnings and topped sales estimates in third-quarter 2017, margins remained strained due to increased raw material and packaging costs, as well as higher advertising expenses. Further, it anticipates these costs to persist and impact margins in 2017. The company also perked up its costs guidance related to charges arising from the expansion and extension of the Global Growth and Efficiency Program through Dec 31, 2019. Nonetheless, Colgate’s shareholder-friendly moves remain noteworthy. Estimates have been stable lately ahead of the fourth quarter earnings release.”
Other equities analysts have also recently issued reports about the stock. SunTrust Banks raised shares of Colgate-Palmolive from a hold rating to a buy rating and raised their price target for the stock from $65.00 to $85.00 in a research note on Wednesday, October 11th. Royal Bank of Canada reaffirmed a hold rating and set a $74.00 price target on shares of Colgate-Palmolive in a research note on Sunday, October 8th. Jefferies Group reaffirmed a hold rating and set a $79.00 price target on shares of Colgate-Palmolive in a research note on Thursday, September 28th. Stifel Nicolaus set a $73.00 price target on shares of Colgate-Palmolive and gave the stock a hold rating in a research note on Sunday, October 29th. Finally, KeyCorp reaffirmed a hold rating on shares of Colgate-Palmolive in a research note on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average price target of $76.51.
Shares of Colgate-Palmolive (NYSE CL) traded down $0.15 on Monday, hitting $74.67. 669,662 shares of the stock traded hands, compared to its average volume of 2,909,057. The company has a market cap of $65,620.00, a PE ratio of 28.83, a P/E/G ratio of 3.21 and a beta of 0.81. Colgate-Palmolive has a one year low of $63.43 and a one year high of $77.27. The company has a quick ratio of 0.92, a current ratio of 1.23 and a debt-to-equity ratio of 24.42.
Colgate-Palmolive (NYSE:CL) last issued its quarterly earnings results on Friday, October 27th. The company reported $0.73 earnings per share for the quarter, hitting the consensus estimate of $0.73. The company had revenue of $3.97 billion during the quarter, compared to analysts’ expectations of $3.94 billion. Colgate-Palmolive had a net margin of 15.10% and a return on equity of 2,782.56%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $0.73 EPS. equities research analysts forecast that Colgate-Palmolive will post 2.88 EPS for the current year.
In other Colgate-Palmolive news, COO Justin Skala sold 126,393 shares of the firm’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $72.97, for a total transaction of $9,222,897.21. Following the completion of the sale, the chief operating officer now owns 262,361 shares of the company’s stock, valued at approximately $19,144,482.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stephen I. Sadove sold 20,780 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $70.52, for a total value of $1,465,405.60. Following the sale, the director now directly owns 36,268 shares of the company’s stock, valued at approximately $2,557,619.36. The disclosure for this sale can be found here. In the last three months, insiders sold 181,048 shares of company stock valued at $13,168,995. 1.02% of the stock is currently owned by insiders.
Institutional investors have recently made changes to their positions in the business. Jacobi Capital Management LLC lifted its holdings in Colgate-Palmolive by 125.5% during the 3rd quarter. Jacobi Capital Management LLC now owns 1,443 shares of the company’s stock valued at $104,000 after purchasing an additional 803 shares during the last quarter. Krilogy Financial LLC lifted its holdings in Colgate-Palmolive by 23.0% during the 2nd quarter. Krilogy Financial LLC now owns 1,547 shares of the company’s stock valued at $115,000 after purchasing an additional 289 shares during the last quarter. Harbour Capital Advisors LLC bought a new position in Colgate-Palmolive during the 1st quarter worth $121,000. Hanson & Doremus Investment Management increased its position in Colgate-Palmolive by 4.5% during the 2nd quarter. Hanson & Doremus Investment Management now owns 1,630 shares of the company’s stock worth $121,000 after buying an additional 70 shares during the period. Finally, Captrust Financial Advisors bought a new position in Colgate-Palmolive during the 2nd quarter worth $122,000. 72.83% of the stock is owned by institutional investors and hedge funds.
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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