WD-40 slumps after weak earnings; Jefferies cuts PT

WD-40 Co

20/10/2021 12:36

** Shares of household products maker  WDFC.O  down 11% at
$204 premarket - set to have its worst day since April 2020
    ** Co's earnings and revenue misses estimates
    ** Reports profit of 61 cents per share for quarter ended
Aug. 31, vs. est $1.24 per share  urn:newsml:reuters.com:*:nL8N2RF65H
    ** Posts qtrly revenue $115.24 mln vs. est $117.45 mln 
    ** Supply chain issues, increase in distribution costs and
increase in oil-based and material-based inputs have yet to
abate; cost headwinds likely to linger for the H1 of 2022 -
Jefferies analyst
    ** Brokerage Jefferies cuts PT to $230 from $280
    ** All brokerages covering the stock rate it "hold"
    ** Up to last close, WD-40 had fallen ~13.7% this year

 (Reporting by Bansari Mayur Kamdar)
 ((BansariMayur.Kamdar@thomsonreuters.com;))