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

WD-40 Co. /zigman2/quotes/204555241/composite WDFC -0.62% 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.

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WD-40 Co.

US : U.S.: Nasdaq

$ 201.42

-1.25 -0.62%

Volume: 39,476

Sept. 22, 2023 4:00p

P/E Ratio

42.89

Dividend Yield

1.65%

Market Cap

$2.73 billion

Rev. per Employee

$904,329