Clorox stock is forming a fresh base just weeks amid improving profits and sales. The home products maker, parent of iconic brands like its namesake bleach, Glad trash bags, Pine-Sol cleaner, Hidden Valley Ranch salad dressing and a host others, hit a near-term high last month. On Thursday the Relative Strength (RS) Rating for highly ranked Clorox stock shot up from 78 to 83.
The 83 RS Rating shows that Clorox stock has outperformed 83% of all stocks over the past 52 weeks for price performance. Stocks that go on to make the biggest gains tend to have an RS Rating over 80 in the early stages of their moves.
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Clorox Stock Climbs Into Top-Tier Group
Among its other ratings Clorox stock has an 83 Composite Rating. That puts it in the top 17% of all stocks for a group of key fundamental and technical metrics. Its good but not great 75 Earnings Per Share Rating reflects weak earnings in the first half of last year. That's improved over the last two quarters. It carries a strong B SMR Rating (sales + profit margin + return on equity), on an A-to-E scale with A tops.
Last quarter Clorox reported 15% EPS growth to $1.51 on a 6% rise in revenue to $1.92 billion. The prior quarter it saw a 48% leap in EPS on a slim 1% increase in sales.
Clorox stock rose to an all-time high around 240 at the end of August 2020, then consolidated. It slid to a 120.50 low in mid-June last year and then turned up, rising to a 52-week high 178.21 on May 3. On Thursday, Clorox was trading at 158.53, up fractionally for the day. See if Clorox stock is able to form a fresh base and offer and clear a proper buy point.
No. 2 Rank In Industry Group
Clorox stock holds the No. 2 rank among its peers in the Soap & Cleaning Preparation industry group, according to MarketSmith.com. Church & Dwight is No. 1 and Ecolab is No. 3 among the group's highest-rated stocks.
When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.
IBD's proprietary RS Rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
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