WD-40 (NASDAQ:WDFC) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

According to Zacks, “WD-40 Company is a tribe of passionate, committed professionals, all dedicated to the same goal: to create positive lasting memories in every interaction they have. They’re a global marketing organization dedicated to creating positive lasting memories by developing and selling products that solve problems in workshops, factories and homes around the world. They offer multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid form under the WD-40 Multi-Use brand for various consumer uses; and specialty maintenance products that comprise penetrants, degreasers, corrosion inhibitors, lubricants, and rust removers under the WD-40 Specialist brand name. The company also provides products under the WD-40 Bike product brand consisting of wet and dry chain lubricants, heavy-duty degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics; multi-purpose and specialty drip oils, and spray lubricant products. “

WDFC has been the subject of a number of other reports. BidaskClub cut shares of WD-40 from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. FBR & Co reiterated a “neutral” rating and set a $122.00 price objective (up from $115.00) on shares of WD-40 in a research report on Friday, October 20th. Finally, B. Riley reiterated a “neutral” rating on shares of WD-40 in a research report on Wednesday, November 1st. Five investment analysts have rated the stock with a hold rating, WD-40 has a consensus rating of “Hold” and an average target price of $117.25.

WD-40 (NASDAQ WDFC) traded down $1.40 during mid-day trading on Wednesday, reaching $116.50. 80,700 shares of the company were exchanged, compared to its average volume of 65,304. The firm has a market cap of $1,630.00, a PE ratio of 31.69, a price-to-earnings-growth ratio of 3.07 and a beta of 0.67. WD-40 has a twelve month low of $100.60 and a twelve month high of $122.65. The company has a debt-to-equity ratio of 0.96, a quick ratio of 2.51 and a current ratio of 2.98.

WD-40 (NASDAQ:WDFC) last released its quarterly earnings data on Thursday, October 19th. The specialty chemicals company reported $1.01 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.04. The business had revenue of $96.60 million during the quarter, compared to analysts’ expectations of $106.01 million. WD-40 had a net margin of 13.91% and a return on equity of 39.82%. The firm’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 EPS. analysts predict that WD-40 will post 3.85 EPS for the current fiscal year.

In other WD-40 news, VP Jay Rembolt sold 676 shares of the company’s stock in a transaction that occurred on Monday, October 9th. The shares were sold at an average price of $112.60, for a total value of $76,117.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.62% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in WDFC. Russell Investments Group Ltd. increased its position in shares of WD-40 by 24.9% during the second quarter. Russell Investments Group Ltd. now owns 28,646 shares of the specialty chemicals company’s stock worth $3,160,000 after buying an additional 5,709 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in WD-40 by 3.1% during the second quarter. Municipal Employees Retirement System of Michigan now owns 3,330 shares of the specialty chemicals company’s stock worth $367,000 after acquiring an additional 100 shares in the last quarter. Great West Life Assurance Co. Can boosted its stake in WD-40 by 2.6% during the second quarter. Great West Life Assurance Co. Can now owns 20,634 shares of the specialty chemicals company’s stock worth $2,274,000 after acquiring an additional 530 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in WD-40 by 5.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 81,133 shares of the specialty chemicals company’s stock worth $8,954,000 after acquiring an additional 4,164 shares in the last quarter. Finally, Legal & General Group Plc boosted its stake in WD-40 by 7.9% during the second quarter. Legal & General Group Plc now owns 27,106 shares of the specialty chemicals company’s stock worth $2,992,000 after acquiring an additional 1,976 shares in the last quarter. Hedge funds and other institutional investors own 81.51% of the company’s stock.

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WD-40 Company Profile

WD-40 Company is a global company engaged in developing and selling products, which solve problems in workshops, factories and homes. The Company’s segments include the Americas; Europe, Middle East and Africa (EMEA), and Asia-Pacific. The Company’s Americas segment includes the United States, Canada and Latin America.

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