Oppenheimer Maintains Perform on WD-40 Company (WDFC)

Oppenheimer is out with its report today on WD-40 Company WDFC, maintaining Perform. In a note to clients, Oppenheimer writes, "Our recent meeting with WDFC senior management provided an encouraging update on business trends in the wake of the F2Q sales weakness, which appears to be a blip rather than a deterioration in fundamentals. While recent commodity inflation is a headwind, WDFC is taking steps to offset this, including price increases. Nonetheless, we are maintaining our Perform rating as valuation is fair in our view. However, the company has delivered strong long-term results, although the stock nearly always lacks a catalyst and is rarely cheap. Thus, long-term investors should look to be opportunistic on pullbacks." Shares of WDFC closed Monday at $41.07, up 1.91% from Friday's close.