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April 4, 2022, 9:41 a.m. EDT

WD-40 downgraded as rising costs, Russia exposure pose risk

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    WD-40 Co. (WDFC)

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By Tonya Garcia

WDFC

WD-40 Co. /zigman2/quotes/204555241/composite WDFC -0.95% shares fell 4.5% in early Monday trading after it was downgraded to underperform from neutral at D.A. Davidson. Analysts slashed their price target to $157 from $238. D.A. Davidson's Linda Bolton Weiser raised concerns that increased input costs could put profits at risk when the company reports its fiscal second-quarter results, scheduled for Friday. Costs for plastic resin, petroleum-based items and tin have worsened, the note says. And WD-40's exposure in Russia, which accounts for 3% of annual sales, makes a guidance increase less likely. WD-40 stock has slumped nearly 43% over the last year.

/zigman2/quotes/204555241/composite
US : U.S.: Nasdaq
$ 184.59
-1.77 -0.95%
Volume: 96,076
Aug. 9, 2022 4:00p
P/E Ratio
41.70
Dividend Yield
1.69%
Market Cap
$2.54 billion
Rev. per Employee
$932,665
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