WD-40 (WDFC) PT Raised to $152 at B.Riley/FBR Following 3Q

B.Riley/FBR raised its price target on WD-40 (NASDAQ: WDFC) to $152.00 (from $135.00) while maintaining a Neutral rating following the company's 3Q earnings report. EPS of $1.15 compared to consensus estimates of $1.05. The company reported a tax rate for 3Q18 of 24.3%, compared to a tax rate of 28.8% a year ago.

The company did see the negative effects of higher raw material costs of 140 bps, including petroleum-based inputs and aerosol cans. Higher freight, customer discounts, and unfavorable currency translation added to lower margins.

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