|Over a week ago|
Clorox put volume heavy and directionally bearish » 10:3509/0709/07/21
Bearish flow noted in…
Bearish flow noted in Clorox with 1,233 puts trading, or 1.3x expected. Most active are 9/10 weekly 162.5 puts and 9/10 weekly 167.5 puts, with total volume in those strikes near 310 contracts. The Put/Call Ratio is 1.66, while ATM IV is up over 1 point on the day. Earnings are expected on November 2nd.
Fly Intel: Top five analyst downgrades » 09:5009/0309/03/21
AVGO, VIPS, MNRL, CHTR, CLX
Catch up on today's…
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Broadcom (AVGO) downgraded to Hold from Buy at Summit Insights with analyst Kinngai Chan believing the current industry supply constraint will continue to limit material upside to Broadcom's semiconductor business. 2. Vipshop (VIPS) downgraded to Neutral from Buy at UBS with analyst Jerry Liu expecting the company's user and revenue growth to slow down to single digit for the next few quarters. 3. Brigham Minerals (MNRL) downgraded to Equal Weight from Overweight at Wells Fargo with analyst Joseph McKay saying following Q2 earnings season, when payout ratios were mostly either at, or above, target levels set by management, he believes higher than expected distributions could be challenged to show growth, the analyst tells investors. However, he believes mineral names can offer commodity/cash flow yield exposure. 4. Charter (CHTR) downgraded to Hold on valuation at TD Securities with analyst Vince Valentini citing valuation for the downgrade with the shares up 24% year-to-date. 5. Clorox (CLX) downgraded to Hold from Buy at Argus with analyst John Staszak saying its revenue has declined from peak levels seen in the early months of the pandemic last year as the company posted sequential declines in three of the past four quarters. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
Clorox cut to Hold at Argus on disappointing outlook » 07:3509/0309/03/21
As previously reported,…
As previously reported, Argus analyst John Staszak downgraded Clorox to Hold from Buy, saying its revenue has declined from peak levels seen in the early months of the pandemic last year as the company posted sequential declines in three of the past four quarters. The analyst is also cutting his FY22 EPS view for Clorox to $5.80 from $8.40, adding that given the weaker revenue and earnings outlook, he sees the stock as "fully valued" at 29-times his expected FY22 forecast.
Clorox downgraded to Hold from Buy at Argus » 07:2409/0309/03/21
Argus analyst John…
Argus analyst John Staszak downgraded Clorox to Hold from Buy.
|Over a month ago|
TPCO Holding appoints Troy Datcher as CEO, effective September 8 » 16:4908/1608/16/21
TPCO Holding Corp.…
TPCO Holding Corp. (GRAMF), California's leading vertically-integrated cannabis company announced that it has appointed Troy Datcher to serve as the company's new CEO, effective Sept 8th. Current CEO Steve Allan will continue with the company and assist with the leadership transition. Datcher joins The Parent Company from The Clorox Company (CLX), where he most recently served as Senior Vice President and Chief Customer Officer responsible for the Company's worldwide sales organization.
Clorox price target lowered to $145 from $177 at DA Davidson » 09:2908/0408/04/21
DA Davidson analyst Linda…
DA Davidson analyst Linda Bolton Weiser lowered the firm's price target on Clorox to $145 from $177 and keeps a Neutral rating on the shares. The analyst cites the company's Q4 earnings and revenue miss as sales fell 9% and gross margins contracted by 820bps. Demand for disinfecting products is moderating faster than expected and gross margin will be impacted by $300M of commodity and transportation cost inflation, Weiser tells investors in a research note.
Clorox price target lowered to $160 from $175 at Credit Suisse » 08:2208/0408/04/21
Credit Suisse analyst…
Credit Suisse analyst Kaumil Gajrawala lowered the firm's price target on Clorox to $160 from $175 and keeps a Neutral rating on the shares. The analyst notes Clorox reported worse-than-expected Q4 results and guided to 2022 earnings well-below estimates. Weakening demand trends and added cost pressures are likely to persist for the next couple of quarters, Gajrawala contends, adding that pricing actions have been slow and not deep enough. Uncertainty around topline stabilization and gross margin recovery keeps the analyst on the sidelines.
Clorox price target lowered to $155 from $170 at Wells Fargo » 08:2008/0408/04/21
Wells Fargo analyst Chris…
Wells Fargo analyst Chris Carey lowered the firm's price target on Clorox to $155 from $170 and keeps an Underweight rating on the shares following quarterly results. The analyst thinks Clorox presented an outlook it believes it can hit, even if "aspirational in some areas." Carey sees risk to organic sales, especially in the first half of the year, but is more comfortable with margin expectations, with EPS probably doable.
Clorox price target lowered to $154 from $166 at UBS » 07:5208/0408/04/21
UBS analyst Peter Grom…
UBS analyst Peter Grom lowered the firm's price target on Clorox to $154 from $166 and keeps a Sell rating on the shares. The company's Q4 performance was "challenged" and despite the sell-off, its valuation still "leaves little margin for error", the analyst tells investors in a research note. Grom adds that he expects a "substantial" uptick in Clorox EPS growth in FY23, but also believes that expectations of a margin recovery next year is needed for investors to step in.
Clorox price target lowered to $153 from $192 at Deutsche Bank » 06:5008/0408/04/21
Deutsche Bank analyst…
Deutsche Bank analyst Steve Powers lowered the firm's price target on Clorox to $153 from $192 and keeps a Hold rating on the shares post the fiscal Q4 results. The company reported a disappointing quarter alongside 2022 guidance that was well below expectations across all metrics due to a combination of lower than expected growth, resulting volume deleverage, and higher than anticipated costs, Powers tells investors in a research note.