Wells Fargo & Company Forecasts Strong Price Appreciation for Stanley Black & Decker (NYSE:SWK) Stock

Stanley Black & Decker (NYSE:SWK) had its target price upped by equities research analysts at Wells Fargo & Company from $90.00 to $115.00 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price indicates a potential downside of 0.06% from the stock’s current price.

A number of other equities analysts have also commented on SWK. The Goldman Sachs Group restated a “neutral” rating and issued a $93.00 price objective (up from $82.00) on shares of Stanley Black & Decker in a research report on Wednesday, July 29th. Robert W. Baird upped their target price on shares of Stanley Black & Decker from $84.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Wall Street Zen lowered shares of Stanley Black & Decker from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 24th. Morgan Stanley set a $100.00 target price on shares of Stanley Black & Decker in a research note on Tuesday, October 6th. Finally, Mizuho cut their price target on shares of Stanley Black & Decker from $110.00 to $105.00 and set an “outperform” rating for the company in a report on Thursday, October 15th. Five analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $100.09.

Stanley Black & Decker Stock Performance

Shares of NYSE SWK traded down $0.20 during mid-day trading on Thursday, hitting $115.06. The company had a trading volume of 1,894,565 shares, compared to its average volume of 1,473,636. The company has a current ratio of 1.43, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. Stanley Black & Decker has a 1 year low of $61.90 and a 1 year high of $122.68. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.58 and a beta of 1.15. The stock’s 50-day moving average price is $94.71 and its 200-day moving average price is $86.32.

Stanley Black & Decker (NYSE:SWK) last issued its quarterly earnings data on Wednesday, November 4th. The industrial products company reported $2.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.55 by $0.76. Stanley Black & Decker had a return on equity of 8.78% and a net margin of 4.07%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.74 billion. On average, sell-side analysts forecast that Stanley Black & Decker will post 5.66 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SWK. North Dakota State Investment Board raised its stake in Stanley Black & Decker by 2.5% in the third quarter. North Dakota State Investment Board now owns 4,713 shares of the industrial products company’s stock valued at $418,000 after purchasing an additional 117 shares in the last quarter. Bessemer Group Inc. grew its stake in Stanley Black & Decker by 1.5% in the 1st quarter. Bessemer Group Inc. now owns 9,223 shares of the industrial products company’s stock worth $654,000 after buying an additional 134 shares in the last quarter. Assetmark Inc. grew its stake in Stanley Black & Decker by 19.9% in the 1st quarter. Assetmark Inc. now owns 880 shares of the industrial products company’s stock worth $63,000 after buying an additional 146 shares in the last quarter. Center for Financial Planning Inc. increased its holdings in shares of Stanley Black & Decker by 7.4% in the 3rd quarter. Center for Financial Planning Inc. now owns 2,478 shares of the industrial products company’s stock worth $220,000 after buying an additional 170 shares during the last quarter. Finally, V Square Quantitative Management LLC increased its holdings in shares of Stanley Black & Decker by 5.1% in the 3rd quarter. V Square Quantitative Management LLC now owns 3,924 shares of the industrial products company’s stock worth $348,000 after buying an additional 192 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Stanley Black & Decker News Roundup

Here are the key news stories impacting Stanley Black & Decker this week:

• Positive Sentiment: SWK reported Q3 earnings per share of $2.31, well above the $1.55 analyst consensus, and raised its outlook. The results helped send shares climbing 11.4% after the announcement. Stanley Black & Decker lifts outlook, but tariff refunds boosted Q3
• Positive Sentiment: The company announced a $1 billion share buyback, which could support demand for its stock. Equity buyback announcement
• Positive Sentiment: Citigroup raised its price target to $140 and maintained a Buy rating, implying further potential upside. Citigroup rating information
• Neutral Sentiment: Analyst views are mixed: Wells Fargo raised its target to $115 but kept an Equal Weight rating, while Baird lifted its target to $115. Wells Fargo rating information Baird price target update
• Negative Sentiment: Tariff refunds contributed to the Q3 earnings beat, raising questions about how much of the improvement can continue. Revenue of $3.73 billion was also slightly below the $3.74 billion consensus. Q3 earnings beat driven by tariff refunds

About Stanley Black & Decker

Stanley Black & Decker, Inc is a global manufacturer of tools, outdoor products and related equipment. The company serves professional contractors, industrial customers, do-it-yourself consumers and outdoor enthusiasts through a portfolio that includes power tools, hand tools, storage solutions, accessories, lawn and garden equipment, and other outdoor products.

Its brands include DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER, Cub Cadet, Hustler and Troy-Bilt. Products are sold through retailers, distributors, e-commerce channels and other commercial outlets, supporting construction, maintenance, manufacturing, automotive repair and residential applications.

The company was formed in 2010 through the merger of The Stanley Works and The Black & Decker Corporation.