Standex International Corporation (SXI) Rating Lowered to Neutral at Sidoti
Standex International Corporation (NYSE:SXI) was downgraded by research analysts at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Wednesday.
Several other research firms have also commented on SXI. FBR & Co reissued a “buy” rating on shares of Standex International Corporation in a report on Monday. Zacks Investment Research downgraded Standex International Corporation from a “hold” rating to a “sell” rating in a report on Saturday, September 23rd. Finally, BidaskClub raised Standex International Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $108.50.
Standex International Corporation (SXI) opened at 108.10 on Wednesday. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 29.64 and a beta of 1.57. The firm has a 50-day moving average of $98.35 and a 200 day moving average of $93.66. Standex International Corporation has a 12-month low of $74.35 and a 12-month high of $110.00.
Standex International Corporation (NYSE:SXI) last posted its quarterly earnings results on Monday, August 28th. The industrial products company reported $1.40 EPS for the quarter, topping the consensus estimate of $1.29 by $0.11. Standex International Corporation had a net margin of 6.08% and a return on equity of 14.76%. The company had revenue of $217.10 million during the quarter, compared to analysts’ expectations of $210.05 million. During the same quarter in the previous year, the business posted $1.31 EPS. The firm’s revenue was up 12.0% on a year-over-year basis. On average, analysts predict that Standex International Corporation will post $5.07 earnings per share for the current fiscal year.
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In related news, Director Gerald H. Fickenscher sold 2,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $94.64, for a total value of $189,280.00. Following the transaction, the director now directly owns 9,915 shares of the company’s stock, valued at approximately $938,355.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.70% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC acquired a new position in Standex International Corporation in the second quarter valued at $250,000. BlueCrest Capital Management Ltd acquired a new stake in shares of Standex International Corporation in the 2nd quarter valued at about $288,000. State Street Corp boosted its position in shares of Standex International Corporation by 3.5% in the 2nd quarter. State Street Corp now owns 302,261 shares of the industrial products company’s stock valued at $27,414,000 after purchasing an additional 10,163 shares during the period. Janus Henderson Group PLC purchased a new position in Standex International Corporation during the 2nd quarter worth approximately $26,196,000. Finally, Royal Bank of Canada grew its stake in Standex International Corporation by 7.7% during the 2nd quarter. Royal Bank of Canada now owns 248,872 shares of the industrial products company’s stock worth $22,572,000 after buying an additional 17,824 shares during the last quarter. 86.86% of the stock is owned by hedge funds and other institutional investors.
About Standex International Corporation
Standex International Corporation is a diversified manufacturing company. The Company is a manufacturer of a range of products and services for diverse commercial and industrial market segments. The Company has 11 operating segments, aggregated and organized into five segments: Food Service Equipment, Engraving, Engineering Technologies, Electronics and Hydraulics.
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