Stanley Black & Decker (NYSE:SWK) Hits New 1-Year High After Analyst Upgrade
Shares of Stanley Black & Decker, Inc. (NYSE:SWK) reached a new 52-week high on Thursday after Morgan Stanley raised their price target on the stock from $158.00 to $171.00. Morgan Stanley currently has an overweight rating on the stock. Stanley Black & Decker traded as high as $164.30 and last traded at $164.00, with a volume of 55191 shares trading hands. The stock had previously closed at $159.59.
A number of other brokerages also recently weighed in on SWK. Zelman & Associates downgraded shares of Stanley Black & Decker from a “buy” rating to a “hold” rating in a report on Friday, October 25th. Bank of America raised Stanley Black & Decker from an “underperform” rating to a “buy” rating and set a $182.00 price target on the stock in a research report on Thursday, November 14th. They noted that the move was a valuation call. ValuEngine raised Stanley Black & Decker from a “sell” rating to a “hold” rating in a research report on Friday, November 1st. Buckingham Research boosted their price target on Stanley Black & Decker from $150.00 to $157.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. Finally, Barclays downgraded Stanley Black & Decker to an “overweight” rating and boosted their price target for the stock from $161.00 to $175.00 in a research report on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $165.94.
In other Stanley Black & Decker news, insider (Phil) Lockyer Phillip acquired 130,434 shares of the company’s stock in a transaction on Wednesday, October 23rd. The stock was acquired at an average price of $0.23 per share, for a total transaction of $29,999.82. Also, SVP Jaime A. Ramirez sold 16,108 shares of Stanley Black & Decker stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $158.93, for a total transaction of $2,560,044.44. Following the completion of the sale, the senior vice president now owns 50,856 shares of the company’s stock, valued at approximately $8,082,544.08. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,720 shares of company stock worth $9,846,273. Company insiders own 1.03% of the company’s stock.
The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.47 and a current ratio of 0.98. The stock has a market capitalization of $24.11 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 2.20 and a beta of 1.40. The stock’s fifty day simple moving average is $156.13 and its two-hundred day simple moving average is $144.58.
Stanley Black & Decker (NYSE:SWK) last posted its earnings results on Thursday, October 24th. The industrial products company reported $2.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.03 by $0.10. Stanley Black & Decker had a net margin of 4.80% and a return on equity of 17.10%. The firm had revenue of $3.63 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the firm posted $2.08 EPS. The company’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts expect that Stanley Black & Decker, Inc. will post 8.39 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Shareholders of record on Friday, November 29th will be issued a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, November 27th. Stanley Black & Decker’s payout ratio is presently 33.87%.
Stanley Black & Decker announced that its Board of Directors has approved a stock buyback plan on Thursday, October 24th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the industrial products company to purchase up to 0.9% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
Stanley Black & Decker Company Profile (NYSE:SWK)
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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