Wells Fargo & Company Lowers Stanley Black & Decker (NYSE:SWK) Price Target to $104.00

Stanley Black & Decker (NYSE:SWK) had its target price dropped by equities researchers at Wells Fargo & Company from $110.00 to $104.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price objective points to a potential downside of 2.38% from the stock’s current price.

Several other brokerages also recently weighed in on SWK. Morgan Stanley assumed coverage on Stanley Black & Decker in a report on Friday, September 6th. They issued an “equal weight” rating and a $107.00 price target on the stock. UBS Group increased their price target on Stanley Black & Decker from $110.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Barclays increased their price target on Stanley Black & Decker from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. raised their price objective on Stanley Black & Decker from $80.00 to $88.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group raised their price objective on Stanley Black & Decker from $82.00 to $94.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Stanley Black & Decker currently has a consensus rating of “Hold” and an average target price of $101.50.

Stanley Black & Decker Price Performance

Shares of Stanley Black & Decker stock opened at $106.54 on Monday. Stanley Black & Decker has a 12 month low of $76.57 and a 12 month high of $110.88. The company has a current ratio of 1.27, a quick ratio of 0.42 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average of $101.27 and a 200 day moving average of $92.66. The firm has a market cap of $16.39 billion, a PE ratio of -154.28, a PEG ratio of 2.88 and a beta of 1.24.

Stanley Black & Decker (NYSE:SWK) last issued its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.25. Stanley Black & Decker had a positive return on equity of 6.06% and a negative net margin of 1.87%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period in the prior year, the business posted ($0.11) earnings per share. The company’s quarterly revenue was down 3.2% compared to the same quarter last year. On average, research analysts expect that Stanley Black & Decker will post 4.22 EPS for the current fiscal year.

Insider Buying and Selling at Stanley Black & Decker

In other news, SVP Janet Link sold 13,520 shares of the firm’s stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $103.91, for a total value of $1,404,863.20. Following the completion of the sale, the senior vice president now owns 31,960 shares of the company’s stock, valued at $3,320,963.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.50% of the company’s stock.

Institutional Trading of Stanley Black & Decker

A number of institutional investors have recently made changes to their positions in SWK. AlphaMark Advisors LLC acquired a new stake in Stanley Black & Decker during the 2nd quarter worth about $32,000. Quarry LP acquired a new stake in Stanley Black & Decker during the 4th quarter worth about $36,000. EverSource Wealth Advisors LLC lifted its position in Stanley Black & Decker by 81.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 528 shares of the industrial products company’s stock worth $42,000 after acquiring an additional 237 shares during the period. Fairman Group LLC acquired a new stake in Stanley Black & Decker during the 4th quarter worth about $50,000. Finally, Clarity Asset Management Inc. acquired a new stake in Stanley Black & Decker during the 4th quarter worth about $52,000. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.