Jefferies Cuts Price Target on WD-40 Co. (WDFC) Following 4Q Report
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Jefferies maintained a Hold rating on WD-40 Co. (NASDAQ: WDFC), and cut the price target to $110.00 (from $120.00), following the company's 4Q earnings report. EPS was $0.99 versus the consensus estimate of $0.82. F/X was a $5.7m revenue headwind.
Analyst Daniel Rizzo commented, "Q4 EPS was $0.99 versus our estimate $0.84 and consensus $0.82. 2017E projections are pegged between $3.64-$3.71 (versus consensus of $3.76). Specialist, WD-40 EZ Reach Flexible Straw, and MUP sales will grow revenue, but an uptick in oil-related raw materials should limit EPS. Share repurchases will continue."
Shares of WD-40 closed at $106.42 yesterday.
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