Stanley Black & Decker, Inc. (NYSE:SWK) Lifted to “Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Stanley Black & Decker, Inc. (NYSE:SWK) from a hold rating to a buy rating in a research report sent to investors on Thursday morning. Zacks Investment Research currently has $164.00 price objective on the industrial products company’s stock.
According to Zacks, “Over the last three months, shares of Stanley Black & Decker outperformed the industry it belongs to. In second-quarter 2017, the company's earnings and sales beat their respective estimates by 2.6% and 1.9%. Impressed with its results and anticipating benefits from higher organic revenue growth, operational excellence and acquired assets, the company raised its earnings forecast to $7.18-$7.38 per share from $7.08-$7.28. In the long term, we believe the company has solid growth potential, backed by the strategy of shifting its business portfolio toward favored growth markets through organic and inorganic means. Year to date, the company has completed the acquisition of Newell Tools and Craftsman Brand while divested Mechanical Security Operations. Integration of acquired assets is proceeding as planned.”
Several other analysts also recently commented on SWK. Nomura initiated coverage on shares of Stanley Black & Decker in a research report on Wednesday, April 12th. They issued a buy rating and a $145.00 target price for the company. KeyCorp raised shares of Stanley Black & Decker from a sector weight rating to an overweight rating and set a $160.00 target price for the company in a research report on Friday, April 21st. J P Morgan Chase & Co raised shares of Stanley Black & Decker from a neutral rating to an overweight rating and boosted their target price for the stock from $140.00 to $152.00 in a research report on Monday, April 24th. Imperial Capital reissued an in-line rating and issued a $125.00 target price on shares of Stanley Black & Decker in a research report on Monday, April 24th. Finally, Barclays PLC boosted their target price on shares of Stanley Black & Decker from $144.00 to $146.00 and gave the stock an overweight rating in a research report on Monday, April 24th. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Stanley Black & Decker currently has an average rating of Buy and an average target price of $153.69.
Shares of Stanley Black & Decker (NYSE SWK) traded up 0.51% during trading on Thursday, hitting $140.60. 538,027 shares of the stock were exchanged. The stock has a market cap of $21.53 billion, a price-to-earnings ratio of 18.00 and a beta of 1.10. Stanley Black & Decker has a 12-month low of $111.89 and a 12-month high of $148.32. The stock’s 50 day moving average is $143.00 and its 200-day moving average is $133.63.
Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings data on Monday, July 24th. The industrial products company reported $2.01 EPS for the quarter, beating the Zacks’ consensus estimate of $1.96 by $0.05. Stanley Black & Decker had a net margin of 9.92% and a return on equity of 15.36%. The firm had revenue of $3.23 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same period in the previous year, the firm posted $1.84 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. Equities research analysts anticipate that Stanley Black & Decker will post $7.29 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 19th. Stockholders of record on Friday, September 1st will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.80%. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, August 30th. Stanley Black & Decker’s payout ratio is presently 29.74%.
In other news, SVP Jaime A. Ramirez sold 10,440 shares of the business’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $139.56, for a total value of $1,457,006.40. Following the completion of the sale, the senior vice president now directly owns 41,541 shares in the company, valued at $5,797,461.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.15% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of SWK. Thompson Davis & CO. Inc. purchased a new stake in shares of Stanley Black & Decker during the first quarter worth $108,000. Farmers & Merchants Investments Inc. boosted its position in Stanley Black & Decker by 2.9% in the second quarter. Farmers & Merchants Investments Inc. now owns 823 shares of the industrial products company’s stock valued at $116,000 after buying an additional 23 shares during the last quarter. Alexandria Capital LLC boosted its position in Stanley Black & Decker by 3.3% in the first quarter. Alexandria Capital LLC now owns 826 shares of the industrial products company’s stock valued at $110,000 after buying an additional 26 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its position in Stanley Black & Decker by 87.8% in the second quarter. Independent Portfolio Consultants Inc. now owns 986 shares of the industrial products company’s stock valued at $139,000 after buying an additional 461 shares during the last quarter. Finally, Tompkins Financial Corp boosted its position in Stanley Black & Decker by 689.6% in the first quarter. Tompkins Financial Corp now owns 987 shares of the industrial products company’s stock valued at $104,000 after buying an additional 862 shares during the last quarter. Institutional investors and hedge funds own 83.77% of the company’s stock.
About Stanley Black & Decker
Stanley Black & Decker, Inc is a global provider of hand tools, power tools and related accessories, mechanical access solutions, such as automatic doors and commercial locking systems, electronic security and monitoring systems, healthcare solutions, engineered fastening systems, and products and services for various industrial applications.
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