The stock of The Clorox Company (NYSE:CLX) is now priced at $222.3 and the shares are -11.06 points down or -4.74% lower compared to its previous closing price of $233.36. The stock had 2.044 million contracts set over the past session. CLX shares’ daily volume is compared to its average trading volume at 1.526 million shares. However, it has a float of 0 million and although its performance was 0.6% over the week, it’s one to watch. Analysts have given the CLX stock a yearly average price target of $221.46 per share. It means the stock’s downside potential is -0.38% with the CLX share price recently placing at $232.4 to $237.94. However, some brokerage firms have priced the stock below the average, including one that has called $181.
The shorts are running away from the The Clorox Company stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the CLX shares have declined. Short interest in the stock represents just 0% of its float, but the volume has dropped by 0.
In the last trading session, The Clorox Company (NYSE:CLX) dropped by -$15.44 over the week and lost -$8.22 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $239.87. The stock recorded its established 52-week high on 08/05/20.
Since 10/02/19, the stock has traded to a low of $144.12 at 54.25%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.26. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, The Clorox Company’s two-week RSI is 42.88. This suggests that the stock is neutral at the moment and that CLX shares’ price movement remains stable. The stochastic readings are equally revealing at 48.52% meaning the CLX share price is currently in neutral territory.
The technical chart shows that the CLX stock will likely settle at between $228.89 and $235.48 per share. However, if the stock dips below $218.71, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $215.11.
Currently, the stock is trading in the red of MACD, with a reading of -2.72. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned CLX a rating of Buy in their intiating review released on June 30. Credit Suisse analysts downgraded their recommendation of the stock from Outperform to Neutral while keeping its target price at $169 to $172 in a flash note released to investors on March 19. JP Morgan seeing the improvements upgraded the stock from Underweight to Overweight on March 16, placing it at $153 to $185.
The average rating for the CLX equity is 3 and is currently gathering a bullish momentum. Of 14 analysts tracking The Clorox Company polled by Reuters, 7 rated CLX as a hold. The remaining 7 analysts were split evenly. However, the split wasn’t equal as a majority (4) rated it as a buy or strong buy. 3 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the CLX stock price is 29.35X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 31.7 below the group’s average of 36. The Clorox Company has its P/E ratio at 32.4, which means that the stock is currently trading at a premium relative to the 9 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for The Clorox Company (NYSE:CLX) will decrease by about -11.25%, which will see them reach $1760 million. The company’s full-year revenues are, however, expected to increase by about 3.27%, up from $6720 million to $6940 million. CLX’s expected adjusted earnings should surge almost 45.28% to end up at $2.31 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 5.3% to record $7.75/share.