Option Bulls, Analysts Eye Clorox Stock

Clorox is one of the few stocks eyeing a close in the black today

by Lillian Currens

Published on Mar 16, 2020 at 3:02 PM

With the massive demand for hand sanitizer, trash bags and other cleaning products wiping the headlines, its no surprise that Clorox Co (NYSE:CLX) is one of the few stocks bucking the broadmarket trend today. The equity is up 2.9% at $172.44, set to close back atop its 20-day moving average after a brief dip below here late last week, and is clinging to a rare year-to-date gain of 6.6%. 

CLX March 16

Analysts are starting to come around to the outperforming Pine-Sol parent. UBS Group just lifted its price target to $152 from $135 and J.P. Morgan Securities upgraded the equity to "overweight" from "underweight" and hiked its price target to $185 from $153, with one researcher at the brokerage firm calling Clorox "one of the few stocks that can positively surprise guidance."

Coming into today, just one member of the brokerage bunch considered CLX a "strong buy," compared to the 10 calling it a "hold" or worse. Plus, the consensus 12-month target price of $159.23 sits at a 7.5% discount to current levels, leaving the door wide open for even more bull notes. 

Clorox stock's options pits are bustling with activity, too. So far, 6,726 calls and 2,528 puts have crossed the tape, 1.2 times what is typically seen at this point. By far the most popular contract is the March 180 call, followed by the 175 call in the same monthly series. 


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.
First Week in April Provides More Coronavirus-Related Volatility
A slew of coronavirus-related news sent markets on another weekly roller coaster ride
Netflix Stock Heading into Historically Bullish Quarter
NFLX's 10-day moving average has stepped up as support lately
The Latest Investor's Guide to Precious Metals
Learn how to protect savings and maximize returns by investing in precious metals.