Clorox (NYSE:CLX) Price Target Cut to $83.00 by Analysts at JPMorgan Chase & Co.

Clorox (NYSE:CLX) had its price objective cut by research analysts at JPMorgan Chase & Co. from $95.00 to $83.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential downside of 2.93% from the stock’s current price.

Other analysts have also recently issued research reports about the company. Evercore set a $99.00 target price on Clorox in a research report on Tuesday, August 4th. UBS Group set a $91.00 price target on Clorox in a research report on Thursday. Barclays dropped their price target on Clorox from $84.00 to $80.00 and set an “underweight” rating on the stock in a research report on Friday. BNP Paribas Exane decreased their price objective on Clorox from $97.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, July 20th. Finally, TD Cowen decreased their price objective on Clorox from $85.00 to $80.00 and set a “hold” rating for the company in a research report on Tuesday, October 13th. Twelve equities research analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Clorox has an average rating of “Reduce” and a consensus price target of $93.57.

Clorox Trading Down 1.8%

Shares of CLX traded down $1.58 during midday trading on Monday, hitting $85.50. The stock had a trading volume of 2,117,005 shares, compared to its average volume of 2,643,498. Clorox has a fifty-two week low of $79.12 and a fifty-two week high of $128.90. The business has a 50-day simple moving average of $92.27 and a two-hundred day simple moving average of $95.24. The firm has a market cap of $10.34 billion, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 2.75 and a beta of 0.59. The company has a current ratio of 0.66, a quick ratio of 0.38 and a debt-to-equity ratio of 15.80.

Clorox (NYSE:CLX) last issued its quarterly earnings results on Monday, August 3rd. The company reported $1.66 EPS for the quarter, beating the consensus estimate of $1.64 by $0.02. Clorox had a net margin of 8.74% and a return on equity of 522.23%. The business had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the prior year, the firm earned $2.87 EPS. The firm’s quarterly revenue was down 2.0% on a year-over-year basis. Clorox has set its FY 2027 guidance at 5.700-6.000 EPS. As a group, equities analysts forecast that Clorox will post 5.74 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in shares of Clorox during the 2nd quarter valued at about $958,640,000. Bank of America Corp DE acquired a new position in Clorox in the second quarter worth approximately $179,780,000. Royal Bank of Canada increased its holdings in Clorox by 20.1% in the first quarter. Royal Bank of Canada now owns 1,418,204 shares of the company’s stock worth $146,969,000 after buying an additional 237,301 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Clorox in the second quarter worth approximately $123,154,000. Finally, Confluence Investment Management LLC raised its position in Clorox by 33.8% during the second quarter. Confluence Investment Management LLC now owns 1,247,644 shares of the company’s stock valued at $119,075,000 after acquiring an additional 315,069 shares in the last quarter. Hedge funds and other institutional investors own 78.53% of the company’s stock.

About Clorox

The Clorox Company, founded in 1913 and headquartered in Oakland, California, is a consumer and professional products company. It began with household bleach and has expanded into a portfolio of brands serving cleaning, household, personal care, food, and professional markets.

Its brands include Clorox disinfecting and cleaning products, Pine-Sol cleaners, Liquid-Plumr drain care, Kingsford charcoal, Fresh Step and Scoop Away cat litter, Hidden Valley dressings and dips, Brita water filtration products, and Burt’s Bees personal care items.