Why WD-40 Stock Is Trading Higher Today

WD-40 Co (NASDAQ: WDFC) is trading higher Thursday morning after the company announced better-than-expected financial results.

What Happened: WD-40 reported quarterly earnings of $1.52 per share, which beat the estimate of $1.15 per share. The company reported quarterly revenue of $136.4 million, which beat the estimate of $108.33 million. WD-40 increased its revenue expectations for its full fiscal year to a range of $475 million to $490 million.

"In the third quarter we experienced unprecedented demand for our maintenance products and today we are reporting record net sales of $136.4 million, up 39 percent compared to the third quarter of last year," said Garry Ridge, chairman and CEO of WD-40.

Related Link: Recap: WD-40 Q3 Earnings

DA Davidson analyst Linda Bolton Weiser maintained WD-40 with a Neutral rating and lowered the price target from $295 to $277.

Price Action: WD-40 has traded as high as $333.41 and as low as $183.55 over a 52-week period.

At last check Thursday, the stock was up 7.47% in premarket trading at $280.

Photo: courtesy of WD-40.