Stanley Black & Decker (NYSE:SWK) Price Target Cut to $92.00

Stanley Black & Decker (NYSE:SWK) had its target price dropped by analysts at Wells Fargo & Company from $98.00 to $92.00 in a report issued on Friday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 7.23% from the company’s current price.

A number of other equities analysts have also recently commented on SWK. JPMorgan Chase & Co. dropped their target price on Stanley Black & Decker from $89.00 to $80.00 and set an “underweight” rating for the company in a report on Tuesday, February 6th. Barclays dropped their target price on Stanley Black & Decker from $107.00 to $100.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Robert W. Baird decreased their price target on Stanley Black & Decker from $82.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $97.00.

Stanley Black & Decker Price Performance

SWK traded up $0.81 during trading on Friday, hitting $85.80. 3,145,700 shares of the company traded hands, compared to its average volume of 1,423,358. The company has a market cap of $13.20 billion, a PE ratio of -41.25, a P/E/G ratio of 2.47 and a beta of 1.33. Stanley Black & Decker has a 1 year low of $73.87 and a 1 year high of $104.21. The company has a current ratio of 1.19, a quick ratio of 0.39 and a debt-to-equity ratio of 0.67. The stock’s 50-day simple moving average is $91.64 and its two-hundred day simple moving average is $91.23.

Stanley Black & Decker (NYSE:SWK) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.01. The business had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Stanley Black & Decker had a positive return on equity of 2.34% and a negative net margin of 1.97%. The company’s revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.41) EPS. As a group, sell-side analysts anticipate that Stanley Black & Decker will post 4.13 earnings per share for the current fiscal year.

Institutional Trading of Stanley Black & Decker

Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Stanley Black & Decker during the 4th quarter valued at $133,952,000. International Assets Investment Management LLC raised its position in shares of Stanley Black & Decker by 9,029.0% in the 4th quarter. International Assets Investment Management LLC now owns 421,304 shares of the industrial products company’s stock valued at $41,330,000 after purchasing an additional 416,689 shares during the last quarter. Kodai Capital Management LP acquired a new stake in Stanley Black & Decker in the 4th quarter worth approximately $32,679,000. Price T Rowe Associates Inc. MD grew its position in Stanley Black & Decker by 1.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 17,159,917 shares of the industrial products company’s stock worth $1,683,389,000 after purchasing an additional 279,866 shares during the last quarter. Finally, Clean Energy Transition LLP increased its stake in Stanley Black & Decker by 13.8% during the 3rd quarter. Clean Energy Transition LLP now owns 2,292,331 shares of the industrial products company’s stock valued at $191,593,000 after purchasing an additional 277,507 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Stanley Black & Decker Company Profile

Stanley Black & Decker, Inc provides hand tools, power tools, outdoor products, and related accessories in the United States, Canada, Other Americas, Europe, and Asia. Its Tools & Outdoor segment offers professional grade corded and cordless electric power tools and equipment, including drills, impact wrenches and drivers, grinders, saws, routers, and sanders; pneumatic tools and fasteners, such as nail guns, nails, staplers and staples, and concrete and masonry anchors; corded and cordless electric power tools; hand-held vacuums, paint tools, and cleaning appliances; leveling and layout tools, planes, hammers, demolition tools, clamps, vises, knives, saws, chisels, and industrial and automotive tools; drill, screwdriver, router bits, abrasives, saw blades, and threading products; tool boxes, sawhorses, medical cabinets, and engineered storage solutions; and electric and gas-powered lawn and garden products.