Clorox Company (The) Stock News

Clorox is scheduled to report fiscal 2022 second-quarter earnings on Feb. 3.

Credit Suisse analyst Kaumil Gajrawala downgraded Clorox Co (NYSE: CLX ) to Underperform from Neutral with a $160 price target. The analyst thinks a large portion of Clorox''s growth during the first phase of the pandemic came from categories that are now declining. If consumption continues to revert toward pre-pandemic levels, Full story available on Benzinga.com

Clorox Co. shares fell 4.2% in Wednesday trading after the consumer cleaning products company was downgraded to underperform from neutral at Credit Suisse based on concern that the skyrocketing growth from early in the pandemic has started to wane. Analysts maintained their $160 target price. Sales for fiscal year ending June 2021 reached $7.34 billion, up from $6.72 billion for the fiscal year ending June 2020. Sales for the fiscal first quarter fell to $1.81 billion from $1.92 billion the previous year. "Nearly two years into the pandemic, Clorox is a larger company that can grow faster," the note said. "If consumption continues to revert toward pre-pandemic levels, $500 million in company sales may still be at risk." Analysts also highlight pricing uncertainty and the impact on margins. "If consumption weakens further amid high input cost inflation, a drop in volumes could result in material deleverage to margins," the note said. Clorox is scheduled to report fiscal second-quarter results on Feb. 3, according to a FactSet calendar.

Wednesday afternoon''s top analyst upgrades and downgrades included American Express, Clorox, Chipotle, Meta, Microsoft, Verizon and more.

These are the stocks posting the largest moves in midday trading.

The analyst thinks a large portion of Clorox's growth during the first phase of the pandemic came from categories that are now declining.

Credit Suisse downgrades Clorox Company (CLX) to Underperform from Neutral as it sees the upside from the shift in consumer behavior toward health, wellness, hygiene and more time at

Clorox Co. CLX, -4.75% shares fell 4.2% in Wednesday trading after the consumer cleaning products company was downgraded to underperform from neutral at Credit Suisse based on concern that the skyrock

The consumer packaged goods company boasts a dividend yield of 2.6%.

Clorox could struggle to grow sales as the Covid-driven demand for cleaning products wanes, according to Credit Suisse.

The three major U.S. equities indexes again closed lower on Tuesday. The Nasdaq closed 2.3% lower, the Dow Jones industrials dipped by 0.2% and the S&P 500 lost 1.2%.

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The shares of Clorox Co (NYSE:CLX) are up 0.5% to trade at $180.71 today, as the company gears up for its fiscal second-quarter earnings report, due out after the close on Thursday, Feb. 3.