Technicals Say The Clorox Company (CLX) Is Worth Holding

As of Wednesday close, The Clorox Company’s (NYSE:CLX) stock was up $6.52, moving up 5.19 percent to $132.14. The average number of shares traded per day over the past five days has been 1,971,580 shares. 3 times new highs have been achieved over the past 5 days, with a $7.50 gain in that time frame. In the last twenty days, the average volume was 1,387,395, while in the previous 50 days, it was 1,439,038.

Since last month, CLX stock retreated -4.45%. Shares of the company fell to $120.50 on 06/16/22, the lowest level in the past month. A 52-week high of $191.75 was reached on 01/14/22 after having rallying from a 52-week low of $120.50. Since the beginning of this year, CLX’s stock price has dropped by -24.21% or -$42.22, and marked a new high 9 times. However, the stock has declined by -31.09% since its 52-week high.

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The Clorox Company (CLX) last reported insider trading activity 21 days ago on Jun 02. MACKAY A D DAVID, the Director of the company, disposed of 1,000 shares for $140.63 on Jun 02. It resulted in a $140,630 divestment by the insider. Reynolds Eric H sold 585 shares at an average price of $154.83 on May 09. The insider now owns 17,289 shares following the transaction. On Nov 16, SVP – GM, International Barral Diego J sold 240 shares at $170.00 apiece. The transaction was valued at $40,800.

Valuation Metrics

Right now, The Clorox Company (CLX) has a P/E ratio of about 35.83. The stock’s beta is 0.28. Besides these, the trailing price-to-sales (P/S) ratio of 2.29, the price-to-book (PB) ratio of 40.66.

The latest dividend of $1.16 per share was paid out, remained unchanged from last year’s $1.16. On Thursday June 3 2021, a $0.05 dividend increase was announced.

Financial Health

In the three months ended March 30, The Clorox Company’s quick ratio stood at 0.40, while its current ratio was 0.70, showing that the company is not able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 4.72, and the total debt-to-equity ratio was 7.21. On the profitability front, the trailing twelve-month gross margin is 35.80% percent. In the year ended March 30, EBITDA margin amounted to 19.72%, whereas operating margins totaled 8.10%. Based on annual data, CLX earned $3.2 billion in gross profit and brought in $7.34 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 22.40%. Return on equity (ROE) for the past 12 months was 122.80%.

In The Clorox Company’s quarter-end financial report for March 30, it reported total debt of $1.89 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. CLX’s revenue rose 1.55% to $1.69 billion during the quarter, while net income inched up to $1.81 billion. While analysts expected The Clorox Company to report $0.97 quarterly earnings, the actual figure was $1.31 per share, beating the consensus estimate by 35.10%. During the quarter, the company generated $289.0 million in EBITDA. The liabilities of The Clorox Company were 5.75 billion at the end of its most recent quarter ended March 30, and its total debt was $3.23 billion. The value of shareholders’ equity is $123.08 million.

Technical Picture

This quick technical analysis looks at The Clorox Company’s (CLX) price momentum. With a historical volatility rate of 37.37%, the RSI 9-day stood at 50.38% on 22 June.

With respect to its five-day moving average, the current The Clorox Company price is up by +6.02% percent or $7.50. At present, CLX shares trade -5.34% below its 20-day simple moving average and -20.14% percent below its 100-day simple moving average. However, the stock is currently trading approximately -9.80% below its SMA50 and -22.05% below its SMA200.

Stochastic coefficient K was 28.15% and Stochastic coefficient D was 16.07%, while ATR was 4.33. Given the Stochastic reading of 55.69% for the 14-day period, the RSI (14) reading has been calculated as 44.85%. As of today, the MACD Oscillator reading stands at -0.16, while the 14-day reading stands at -3.80.

Analyst Ratings

Wells Fargo reiterated its an Underweight rating on The Clorox Company (NYSE: CLX) in a note to investors. The analysts firm has however raised their price target to $150, representing a possible 16.89% increase in the stock price. The Clorox Company (CLX) has been rated Underweight by analysts. According to 7 brokerage firms, CLX is a sell, and 6 firms recommend it is a Hold. There are 3 analysts who say the stock is underweight. A total of 1 analyst rate The Clorox Company stock as buy, with 2 recommending it as overweight.

With a median target price of $134.50, the current consensus forecast for the stock is $115.00 – $165.00. Based on these forecasts, analysts predict The Clorox Company (CLX) will achieve an average price target of $135.13.


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