Stanley Black & Decker (NYSE:SWK) Cut to Hold at Zacks Investment Research | MarketBeat
Stanley Black & Decker (NYSE:SWK) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, Zacks.com reports. They presently have a $195.00 target price on the industrial products company’s stock. Zacks Investment Research‘s price target points to a potential upside of 14.71% from the company’s current price.
According to Zacks, “In the past year, Stanley Black & Decker’s shares have outperformed the industry. In the quarters ahead, the company is poised to gain from solid product offerings (especially related to security, healthy and do-it-yourself preferences), a positive e-commerce trend, innovation efforts and inorganic activities. Also, its commitment toward rewarding shareholders enhances its attractiveness. Cost-reduction actions (savings to the tune of $680 million are anticipated to be realized in 2020) and solid liquidity also might help. In December, the company raised its scenario planning assumption for organic growth (year over year) from 3-5% mentioned earlier to 10% for the fourth quarter. This revision reflects an impressive demand for products. In the past 60 days, the company’s earnings estimates have increased for 2021.”
Several other equities research analysts have also recently issued reports on SWK. UBS Group lifted their target price on Stanley Black & Decker from $173.00 to $184.00 and gave the stock a “buy” rating in a report on Monday, September 14th. Morgan Stanley raised their price objective on Stanley Black & Decker from $188.00 to $220.00 and gave the company an “overweight” rating in a research note on Thursday, December 3rd. Robert W. Baird lifted their price target on shares of Stanley Black & Decker from $184.00 to $204.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 20th. Bank of America downgraded Stanley Black & Decker from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $187.00 to $175.00 in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Stanley Black & Decker from $192.00 to $200.00 and gave the stock a “buy” rating in a research note on Wednesday, October 28th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $179.07.
Shares of Stanley Black & Decker stock traded up $0.64 during trading hours on Tuesday, hitting $169.99. The company’s stock had a trading volume of 11,211 shares, compared to its average volume of 1,421,975. The company has a market cap of $27.24 billion, a PE ratio of 32.38, a PEG ratio of 3.16 and a beta of 1.53. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.66 and a current ratio of 1.26. The business has a 50 day moving average price of $181.17 and a two-hundred day moving average price of $164.64. Stanley Black & Decker has a 12-month low of $70.00 and a 12-month high of $195.00.
Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings data on Sunday, November 1st. The industrial products company reported $2.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.22. Stanley Black & Decker had a net margin of 5.88% and a return on equity of 13.97%. The firm had revenue of $3.85 billion for the quarter, compared to analysts’ expectations of $3.99 billion. During the same quarter last year, the business posted $2.13 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that Stanley Black & Decker will post 7.82 earnings per share for the current year.
In related news, insider Robert H. Raff, Jr. sold 1,875 shares of the firm’s stock in a transaction dated Wednesday, December 2nd. The shares were sold at an average price of $179.80, for a total value of $337,125.00. Following the transaction, the insider now directly owns 6,967 shares of the company’s stock, valued at approximately $1,252,666.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Robert H. Raff, Jr. sold 943 shares of Stanley Black & Decker stock in a transaction dated Wednesday, December 9th. The stock was sold at an average price of $178.62, for a total value of $168,438.66. Following the completion of the sale, the insider now owns 4,633 shares in the company, valued at $827,546.46. The disclosure for this sale can be found here. Insiders sold a total of 10,667 shares of company stock worth $1,913,742 in the last three months. 1.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its holdings in Stanley Black & Decker by 16.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 11,859,103 shares of the industrial products company’s stock valued at $1,915,009,000 after purchasing an additional 1,672,038 shares in the last quarter. FMR LLC grew its stake in Stanley Black & Decker by 53.7% during the 2nd quarter. FMR LLC now owns 3,041,285 shares of the industrial products company’s stock valued at $423,895,000 after acquiring an additional 1,062,262 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in Stanley Black & Decker by 28.6% in the 3rd quarter. Nuveen Asset Management LLC now owns 1,624,060 shares of the industrial products company’s stock valued at $263,423,000 after acquiring an additional 360,893 shares during the last quarter. Bank of America Corp DE lifted its stake in Stanley Black & Decker by 3.7% in the 2nd quarter. Bank of America Corp DE now owns 1,565,591 shares of the industrial products company’s stock worth $218,212,000 after purchasing an additional 56,441 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Stanley Black & Decker by 7.5% during the second quarter. Charles Schwab Investment Management Inc. now owns 757,465 shares of the industrial products company’s stock worth $105,576,000 after buying an additional 52,527 shares during the last quarter. Hedge funds and other institutional investors own 88.56% of the company’s stock.
Stanley Black & Decker Company Profile
Stanley Black & Decker, Inc engages in tools and storage, industrial, and security businesses worldwide. Its Tools & Storage segment offers power tools and equipment, including professional products, such as professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products comprising corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as lawn and garden products and related accessories, and home products.
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