Sidoti Downgrades Standex International Corporation (SXI) to Neutral
Standex International Corporation (NYSE:SXI) was downgraded by research analysts at Sidoti from a “buy” rating to a “neutral” rating in a report released on Wednesday.
Other analysts have also recently issued reports about the company. Zacks Investment Research cut Standex International Corporation from a “buy” rating to a “hold” rating in a report on Thursday, July 13th. FBR & Co restated an “outperform” rating on shares of Standex International Corporation in a report on Tuesday, July 11th. Finally, BidaskClub upgraded Standex International Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $108.50.
Shares of Standex International Corporation (NYSE:SXI) opened at 104.35 on Wednesday. Standex International Corporation has a 12 month low of $74.35 and a 12 month high of $110.00. The firm has a market capitalization of $1.33 billion, a P/E ratio of 28.61 and a beta of 1.57. The company has a 50 day moving average of $98.91 and a 200-day moving average of $93.81.
Standex International Corporation (NYSE:SXI) last released its quarterly earnings results on Monday, August 28th. The industrial products company reported $1.40 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.11. The company had revenue of $217.10 million for the quarter, compared to analysts’ expectations of $210.05 million. Standex International Corporation had a return on equity of 14.76% and a net margin of 6.08%. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.31 earnings per share. Analysts predict that Standex International Corporation will post $5.07 EPS for the current year.
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In related news, Director Gerald H. Fickenscher sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $94.64, for a total value of $189,280.00. Following the sale, the director now directly owns 9,915 shares in the company, valued at $938,355.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.70% of the company’s stock.
A number of hedge funds have recently made changes to their positions in SXI. US Bancorp DE boosted its holdings in Standex International Corporation by 103.5% in the first quarter. US Bancorp DE now owns 2,948 shares of the industrial products company’s stock valued at $295,000 after acquiring an additional 1,499 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Standex International Corporation by 5.9% in the first quarter. Bank of New York Mellon Corp now owns 187,203 shares of the industrial products company’s stock valued at $18,749,000 after acquiring an additional 10,367 shares during the last quarter. UBS Asset Management Americas Inc. bought a new stake in Standex International Corporation in the first quarter valued at approximately $225,000. Karp Capital Management Corp bought a new stake in Standex International Corporation in the first quarter valued at approximately $242,000. Finally, Sei Investments Co. boosted its holdings in Standex International Corporation by 1.5% in the first quarter. Sei Investments Co. now owns 13,694 shares of the industrial products company’s stock valued at $1,371,000 after acquiring an additional 200 shares during the last quarter. Institutional investors and hedge funds own 86.86% of the company’s stock.
Standex International Corporation Company Profile
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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