By Christiana Sciaudone
Investing.com — WD-40 slid 15% after missing quarterly sales and profit estimates.
Revenue of $111.9 million was less than the expected $114 million, and earnings per share of $1.24 fell below the estimated $1.32 for the quarter ended in February, according to data compiled by Investing.com.
The disappointment follows two blow-out quarters, with the company reporting both sales and profit that surprised the market. Shares had close to doubled for the year through February, and have since dropped about 20%.
Earlier today, DA Davidson lowered the price target on WD-40 to $295 from $353 while maintaining a neutral rating, StreetInsider said.
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