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19.01.2020 22:09:00

Up 475% In 10 Years, WD-40 Stock's Run Is Finally Over

Industrial lubricant and degreaser company WD-40 (NASDAQ: WDFC) has had a great run in the last decade, but it's getting harder and harder to justify buying into the stock at present levels. The company may yet hit its long-term revenue target of $700 million in 2025, but it appears to be falling behind the pace necessary to get there. In addition, its valuation appears to be pricing in a lot of optimism. Let's take a look at what's going on with the company in light of the recent earnings report.To be fair to the company, its management has always stressed that it wasn't running the company for its quarterly results, but instead with a view to the development of its long-term strategic aims -- an approach that CEO Garry Ridge likes to call "the infinite game." Indeed, Ridge doesn't give quarterly guidance -- he says, "I frequently caution investors not to follow us too closely quarter to quarter" according to the earnings release.Image source: Getty Images.Continue reading
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