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Four WD-40 company executives are bullish, buying more shares in Q2 trading window

4 company officers WD-40 Company (United States: WDFC) A recent filing disclosed stock purchases made in the approved trading window last week following second-quarter results on April 6. This can be seen as a positive sign for the stock, as insider purchases of shares are generally seen as a strong sign of confidence in the company’s future prospects.

The stock was first discovered Fintel’s largest insider purchase Weekend tracking page.

The four officers purchased a total of 1,493 shares, each at a price of $179.08 per share.

Officers who purchased shares are included President and CEO Steve Blass You purchased $100,000 worth of shares and own a total of 16,533 shares after the transaction. The transaction increased Brass’ float ownership to approximately 1.2%.

Chief People, Culture and Capabilities Officer Jeff Lindeman Listed in a deal worth $97,000, his stake increased to 2,300 shares.

of the group Sara Hyzer, CFO and Treasurer Acquired $30,000 worth of shares, increasing the position to 1,530 shares.

The last officer on the list is Vice President Legal / Corporate Secretary Phenix Kiamilev You purchased $40,000 worth of shares and own a total of 1,505 shares after trading.

When an insider buys stock in his company, it usually indicates that he believes the stock is undervalued and expects the stock price to rise in the future. Moreover, they demonstrate that they are aligned with the interests of their shareholders and are committed to the long-term success of the company.

strong feelings

Fintel’s Officer Sentiment Score 85.69 We are bullish on WDFC from the perspective of increasing executive purchasing activity. This score ranks WD-40 companies in the 271st or top 3%, screened against 11,930 other globally screened securities.

For WDFC, the trade took place at a time when the share price was falling to pre-Covid levels not seen since 2019. Compared to the very high share price above $300 reached in early 2021, the stock has lost about 50% of its value.

The selling pressure on the stock was no different from that of its peers in the market, and the valuation was inflated as the stock surged much faster than the pace of revenue and earnings growth in recent years.

Second Quarter Highlights

WD-40 reported its second quarter financials to investors last Thursday and reported net sales of $130.2 million, which was relatively flat compared to $130 million in the same period last year.

WDFC’s second-quarter net income was $16.5 million, down 15% from the prior year. Meanwhile, year-to-date net income fell 20% to his $30.5 million. Despite this, WD-40’s gross margin improved to 50.8% in the second quarter, compared with 50.4% in the year-ago quarter.

WD-40 Company president and CEO Steve Brass remains optimistic, saying the company’s outlook for earnings growth in the second half of the fiscal year looks promising. Brass noted that despite his double-digit sales growth in the Americas, sales in the EMEA and Asia Pacific segments were weak due to pricing turmoil and economic conditions. Nevertheless, the company expects a strong comeback in both markets in the second half of the year.

WDFC expects full-year revenue growth of 3.5% to 7.5%, $535 million to $560 million, and net income of $64.5 million to $68.5 million.

fluffy evaluation

WDFC’s net income is expected to be just under $70 million this year, but the company currently trades at more than 35 times its price/earnings, well above the US market average.

from the chart below Fintel’s financial metrics and ratios page for WDFC stock shows the valuation of a stock over time.

Analyst’s thoughts

DA Davidson analyst Linda Bolton Weiser maintained her Buy recommendation following the results, but lowered her price target to $197 from $207. Analysts believe sales volumes will increase in the final quarter of the year and gross margins will continue to rebound into she-24.

Fintel Consensus Target Price of $159.80 Analysts generally believe the stock is currently overvalued, suggesting they expect the stock to fall 11.5% over the next year. Most analyst valuations are skewed toward ‘hold’ and ‘sell’ recommendations for stocks.

The distribution of ratings is shown in the following diagram.

This story was originally Fintel.

The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.

Summarize this content to 100 words

4 company officers WD-40 Company (United States: WDFC) A recent filing disclosed stock purchases made in the approved trading window last week following second-quarter results on April 6. This can be seen as a positive sign for the stock, as insider purchases of shares are generally seen as a strong sign of confidence in the company’s future prospects.

The stock was first discovered Fintel’s largest insider purchase Weekend tracking page.

The four officers purchased a total of 1,493 shares, each at a price of $179.08 per share.

Officers who purchased shares are included President and CEO Steve Blass You purchased $100,000 worth of shares and own a total of 16,533 shares after the transaction. The transaction increased Brass’ float ownership to approximately 1.2%.

Chief People, Culture and Capabilities Officer Jeff Lindeman Listed in a deal worth $97,000, his stake increased to 2,300 shares.

of the group Sara Hyzer, CFO and Treasurer Acquired $30,000 worth of shares, increasing the position to 1,530 shares.

The last officer on the list is Vice President Legal / Corporate Secretary Phenix Kiamilev You purchased $40,000 worth of shares and own a total of 1,505 shares after trading.

When an insider buys stock in his company, it usually indicates that he believes the stock is undervalued and expects the stock price to rise in the future. Moreover, they demonstrate that they are aligned with the interests of their shareholders and are committed to the long-term success of the company.

strong feelings

Fintel’s Officer Sentiment Score 85.69 We are bullish on WDFC from the perspective of increasing executive purchasing activity. This score ranks WD-40 companies in the 271st or top 3%, screened against 11,930 other globally screened securities.

For WDFC, the trade took place at a time when the share price was falling to pre-Covid levels not seen since 2019. Compared to the very high share price above $300 reached in early 2021, the stock has lost about 50% of its value.

The selling pressure on the stock was no different from that of its peers in the market, and the valuation was inflated as the stock surged much faster than the pace of revenue and earnings growth in recent years.

Second Quarter Highlights

WD-40 reported its second quarter financials to investors last Thursday and reported net sales of $130.2 million, which was relatively flat compared to $130 million in the same period last year.

WDFC’s second-quarter net income was $16.5 million, down 15% from the prior year. Meanwhile, year-to-date net income fell 20% to his $30.5 million. Despite this, WD-40’s gross margin improved to 50.8% in the second quarter, compared with 50.4% in the year-ago quarter.

WD-40 Company president and CEO Steve Brass remains optimistic, saying the company’s outlook for earnings growth in the second half of the fiscal year looks promising. Brass noted that despite his double-digit sales growth in the Americas, sales in the EMEA and Asia Pacific segments were weak due to pricing turmoil and economic conditions. Nevertheless, the company expects a strong comeback in both markets in the second half of the year.

WDFC expects full-year revenue growth of 3.5% to 7.5%, $535 million to $560 million, and net income of $64.5 million to $68.5 million.

fluffy evaluation

WDFC’s net income is expected to be just under $70 million this year, but the company currently trades at more than 35 times its price/earnings, well above the US market average.

from the chart below Fintel’s financial metrics and ratios page for WDFC stock shows the valuation of a stock over time.

Analyst’s thoughts

DA Davidson analyst Linda Bolton Weiser maintained her Buy recommendation following the results, but lowered her price target to $197 from $207. Analysts believe sales volumes will increase in the final quarter of the year and gross margins will continue to rebound into she-24.

Fintel Consensus Target Price of $159.80 Analysts generally believe the stock is currently overvalued, suggesting they expect the stock to fall 11.5% over the next year. Most analyst valuations are skewed toward ‘hold’ and ‘sell’ recommendations for stocks.

The distribution of ratings is shown in the following diagram.

This story was originally Fintel.

The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.

https://www.nasdaq.com/articles/four-wd-40-company-officers-are-bullish-buying-more-stock-in-the-q2-trading-window Four WD-40 company executives are bullish, buying more shares in Q2 trading window

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