Price Don’t Lie: Clorox Co’s Stock Is Sell After Today’s Gap Down

Price Don't Lie: Clorox Co's Stock Is Sell After Today's Gap Down

The stock of Clorox Co (NYSE:CLX) gapped down by $0.3 today and has $114.37 target or 8.00% below today’s $124.32 share price. The 7 months technical chart setup indicates high risk for the $16.18B company. The gap down was reported on Oct, 4 by Barchart.com. If the $114.37 price target is reached, the company will be worth $1.29B less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 0.69% or $0.86 during the last trading session, hitting $124.32. About 705,347 shares traded hands. Clorox Co (NYSE:CLX) has declined 0.92% since March 1, 2016 and is downtrending. It has underperformed by 13.13% the S&P500.

Analysts await Clorox Co (NYSE:CLX) to report earnings on November, 7. They expect $1.42 EPS, up 7.58% or $0.10 from last year’s $1.32 per share. CLX’s profit will be $184.81M for 21.89 P/E if the $1.42 EPS becomes a reality. After $1.26 actual EPS reported by Clorox Co for the previous quarter, Wall Street now forecasts 12.70% EPS growth.

Clorox Co (NYSE:CLX) Ratings Coverage

Out of 9 analysts covering The Clorox Company (NYSE:CLX), 1 rate it a “Buy”, 4 “Sell”, while 4 “Hold”. This means 11% are positive. The Clorox Company has been the topic of 17 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The firm earned “Underweight” rating on Wednesday, October 7 by Barclays Capital. RBC Capital Markets maintained the stock with “Sector Perform” rating in Tuesday, November 3 report. The rating was initiated by Atlantic Securities with “Neutral” on Tuesday, June 14. As per Monday, March 21, the company rating was maintained by Barclays Capital. The firm has “Sell” rating given on Thursday, August 4 by UBS. The stock of Clorox Co (NYSE:CLX) has “Hold” rating given on Tuesday, November 3 by Deutsche Bank. The firm has “Buy” rating by Atlantic Securities given on Friday, September 16. As per Wednesday, May 4, the company rating was maintained by JP Morgan. The stock of Clorox Co (NYSE:CLX) has “Buy” rating given on Tuesday, July 21 by Sterne Agee CRT. UBS maintained Clorox Co (NYSE:CLX) rating on Tuesday, November 3. UBS has “Sell” rating and $105 price target.

According to Zacks Investment Research, “Clorox Company’s business operations, represented by the aggregate of its U.S. Household Products and Canada, U.S. Specialty Products and International segments, include the production and marketing of non-durable consumer products sold primarily through grocery and other retail stores.”

Insitutional Activity: The institutional sentiment decreased to 0.98 in Q2 2016. Its down 0.12, from 1.1 in 2016Q1. The ratio turned negative, as 66 funds sold all Clorox Co shares owned while 246 reduced positions. 49 funds bought stakes while 256 increased positions. They now own 87.29 million shares or 6.63% less from 93.49 million shares in 2016Q1.
Wfg Ltd Partnership reported 2,673 shares or 0.1% of all its holdings. Azimuth Capital Mgmt Limited Liability Company has 6,200 shares for 0.08% of their US portfolio. Bessemer Gp has 405,920 shares for 0.31% of their US portfolio. The New York-based Springbok Cap Mgmt Ltd Llc has invested 0.01% in Clorox Co (NYSE:CLX). Teachers accumulated 225,285 shares or 0.05% of the stock. Fulton Breakefield Broenniman holds 2.2% or 77,919 shares in its portfolio. Tci Wealth, a Arizona-based fund reported 723 shares. Wallace Cap Inc accumulated 0.37% or 16,092 shares. Wilbanks Smith Thomas Asset Ltd Liability Corp last reported 6,560 shares in the company. Her Majesty The Queen In Right Of The Province Of Alberta As Represented By Alberta Investment has 0.2% invested in the company for 127,500 shares. Asset Advsr Corporation has invested 0.01% of its portfolio in Clorox Co (NYSE:CLX). Boston And Mngmt owns 1,530 shares or 0.13% of their US portfolio. Crossvault Cap Management Ltd Liability Co holds 34,494 shares or 3.38% of its portfolio. Winton Cap Group Inc Ltd accumulated 187,375 shares or 0.43% of the stock. Nuveen Asset Mngmt Limited Liability Company reported 55,565 shares or 0.05% of all its holdings.

Insider Transactions: Since May 10, 2016, the stock had 0 buys, and 5 sales for $7.59 million net activity. 2,151 Clorox Co (NYSE:CLX) shares with value of $284,470 were sold by Vlahos Nikolaos A. The insider Willoughby Dawn C sold 10,617 shares worth $1.39M. Another trade for 5,136 shares valued at $673,517 was made by Balousek Jon M on Monday, August 29. STEIN LAURA also sold $5.12M worth of Clorox Co (NYSE:CLX) on Friday, September 2.

Another recent and important Clorox Co (NYSE:CLX) news was published by Fool.com which published an article titled: “Is The Clorox Company Stock Too Expensive?” on September 29, 2016.

CLX Company Profile

The Clorox Company, incorporated on September 5, 1986, is a maker and marketer of consumer and professional products. The Firm sells its products primarily through mass retail outlets, e-commerce channels, wholesale distributors and medical supply distributors. The Firm operates through four divisions: Cleaning, Household, Lifestyle and International. The Firm markets some of the consumer brand names, including namesake bleach and cleaning products, Pine-Sol cleaners, Liquid-Plumr clog removers, Poett home care products, Fresh Step cat litter, Glad bags, wraps and containers, Kingsford charcoal, Hidden Valley dressings and sauces, Brita water-filtration products and Burt’s Bees natural personal care products. The Firm also markets brands for professional services, including Clorox Healthcare and Clorox Commercial Solutions. The Firm makes products in approximately 10 countries and markets them in over 100 countries.

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