WD-40 (NASDAQ:WDFC) was downgraded by analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, January 7th, MarketBeat.com reports. They presently have a $209.00 price objective on the specialty chemicals company’s stock. DA Davidson’s price objective indicates a potential upside of 8.72% from the stock’s current price.
WDFC has been the topic of a number of other research reports. Zacks Investment Research raised shares of WD-40 from a “sell” rating to a “hold” rating in a report on Tuesday, December 24th. BidaskClub lowered shares of WD-40 from a “hold” rating to a “sell” rating in a research report on Saturday, January 4th. Finally, ValuEngine upgraded WD-40 from a “hold” rating to a “buy” rating in a research report on Friday, November 1st.
WD-40 stock traded up $1.84 during midday trading on Tuesday, hitting $192.23. 89 shares of the stock were exchanged, compared to its average volume of 100,502. The company has a quick ratio of 1.30, a current ratio of 1.84 and a debt-to-equity ratio of 0.47. The stock has a market capitalization of $2.58 billion, a price-to-earnings ratio of 47.63 and a beta of 0.25. WD-40 has a 52-week low of $153.91 and a 52-week high of $199.48. The business’s 50-day moving average price is $193.41 and its 200-day moving average price is $184.40.
A number of hedge funds have recently bought and sold shares of the stock. APG Asset Management N.V. purchased a new stake in WD-40 in the second quarter worth approximately $18,213,000. Morgan Stanley lifted its holdings in WD-40 by 173.0% in the 2nd quarter. Morgan Stanley now owns 106,070 shares of the specialty chemicals company’s stock worth $16,870,000 after purchasing an additional 67,218 shares in the last quarter. Invesco Ltd. lifted its holdings in WD-40 by 40.3% in the 2nd quarter. Invesco Ltd. now owns 231,611 shares of the specialty chemicals company’s stock worth $36,836,000 after purchasing an additional 66,504 shares in the last quarter. Nuveen Asset Management LLC bought a new position in WD-40 in the 2nd quarter worth approximately $8,606,000. Finally, Man Group plc boosted its stake in WD-40 by 27.2% in the 2nd quarter. Man Group plc now owns 190,682 shares of the specialty chemicals company’s stock worth $30,326,000 after purchasing an additional 40,829 shares during the period. 87.40% of the stock is owned by institutional investors.
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 offers multi-purpose maintenance products, including aerosol sprays, non-aerosol trigger sprays, and in liquid-bulk form products under the WD-40 Multi-Use brand name for various consumer uses and industrial applications; specialty maintenance products, such as penetrants, degreasers, corrosion inhibitors, greases, lubricants, and rust removers under the WD-40 Specialist brand; and bicycle maintenance products comprising wet and dry chain lubricants, chain cleaners and degreasers, and foaming wash products for avid and recreational cyclists, bike enthusiasts, and mechanics under the WD-40 Bike brand name.
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