WD-40 (NASDAQ:WDFC) Rating Reiterated by DA Davidson

WD-40 (NASDAQ:WDFC)‘s stock had its “buy” rating reaffirmed by analysts at DA Davidson in a report issued on Tuesday, Benzinga reports. They currently have a $313.00 price target on the specialty chemicals company’s stock. DA Davidson’s price objective would suggest a potential upside of 40.54% from the stock’s previous close.

WD-40 Stock Down 0.9 %

Shares of NASDAQ:WDFC traded down $1.93 during trading on Tuesday, hitting $222.72. The company’s stock had a trading volume of 4,695 shares, compared to its average volume of 112,997. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.56 and a current ratio of 2.27. WD-40 has a fifty-two week low of $182.53 and a fifty-two week high of $278.78. The stock’s 50-day moving average price is $230.37 and its two-hundred day moving average price is $245.49. The company has a market capitalization of $3.02 billion, a PE ratio of 44.46 and a beta of -0.07.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings results on Tuesday, April 9th. The specialty chemicals company reported $1.14 EPS for the quarter, topping the consensus estimate of $1.13 by $0.01. WD-40 had a return on equity of 32.30% and a net margin of 12.19%. The business had revenue of $139.10 million for the quarter, compared to analysts’ expectations of $140.51 million. During the same quarter in the previous year, the firm posted $1.21 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts expect that WD-40 will post 5.22 EPS for the current year.

Insider Activity at WD-40

In other news, CFO Sara Kathleen Hyzer acquired 213 shares of the stock in a transaction that occurred on Thursday, May 9th. The stock was purchased at an average cost of $232.83 per share, with a total value of $49,592.79. Following the completion of the acquisition, the chief financial officer now directly owns 2,676 shares in the company, valued at $623,053.08. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Sara Kathleen Hyzer bought 213 shares of the stock in a transaction dated Thursday, May 9th. The stock was bought at an average cost of $232.83 per share, with a total value of $49,592.79. Following the completion of the acquisition, the chief financial officer now owns 2,676 shares of the company’s stock, valued at $623,053.08. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Steven A. Brass bought 432 shares of the stock in a transaction dated Tuesday, April 16th. The shares were bought at an average cost of $232.22 per share, with a total value of $100,319.04. Following the completion of the acquisition, the chief executive officer now directly owns 20,547 shares of the company’s stock, valued at approximately $4,771,424.34. The disclosure for this purchase can be found here. Insiders bought a total of 973 shares of company stock valued at $226,910 over the last three months. 0.65% of the stock is owned by insiders.

Hedge Funds Weigh In On WD-40

Several institutional investors have recently made changes to their positions in WDFC. Bridge City Capital LLC boosted its position 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 worth $1,518,000 after buying an additional 45 shares during the period. Covestor Ltd boosted its position in shares of WD-40 by 57.7% during the first quarter. Covestor Ltd now owns 216 shares of the specialty chemicals company’s stock worth $55,000 after buying an additional 79 shares during the period. Stokes Family Office LLC boosted its position in shares of WD-40 by 7.8% during the third quarter. Stokes Family Office LLC now owns 1,156 shares of the specialty chemicals company’s stock worth $235,000 after buying an additional 84 shares during the period. New York State Common Retirement Fund boosted its position in shares of WD-40 by 1.4% during the fourth quarter. New York State Common Retirement Fund now owns 7,268 shares of the specialty chemicals company’s stock worth $1,738,000 after buying an additional 99 shares during the period. Finally, Swiss National Bank boosted its position in shares of WD-40 by 0.4% during the first quarter. Swiss National Bank now owns 26,800 shares of the specialty chemicals company’s stock worth $6,789,000 after buying an additional 100 shares during the period. 91.52% of the stock is owned by institutional investors.

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.