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Church & Dwight cut to Hold at Argus amid weak sales of high-margin products
The Fly

Church & Dwight cut to Hold at Argus amid weak sales of high-margin products

Argus analyst Kristina Ruggeri downgraded Church & Dwight to Hold from Buy. The company is facing pressure from weak sales of high-margin discretionary products, low fill rates on retail orders, and high operating and interest costs, the analyst tells investors in a research note. Church & Dwight’s Q4 results also included a substantial impairment charge for its recently acquired Flawless brand, the firm adds, reducing its FY23 EPS view by 13c to $3.06 while noting that the stock is fully valued at 27-times its expected 2023 earnings.

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