Stanley Black & Decker (NYSE:SWK) PT Raised to $94.00 at The Goldman Sachs Group

Stanley Black & Decker (NYSE:SWK) had its target price boosted by equities researchers at The Goldman Sachs Group from $82.00 to $94.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the industrial products company’s stock. The Goldman Sachs Group’s price target would suggest a potential downside of 11.77% from the stock’s current price.

A number of other equities research analysts have also recently issued reports on the company. Robert W. Baird boosted their price objective on Stanley Black & Decker from $78.00 to $80.00 in a research note on Monday. UBS Group upped their price target on shares of Stanley Black & Decker from $110.00 to $121.00 and gave the company a “buy” rating in a research note on Wednesday. Wells Fargo & Company reduced their price objective on shares of Stanley Black & Decker from $92.00 to $85.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 10th. Finally, Barclays lowered Stanley Black & Decker from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $100.00 to $86.00 in a report on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $95.70.

Stanley Black & Decker Stock Performance

SWK stock traded up $0.49 during mid-day trading on Wednesday, hitting $106.54. The company had a trading volume of 620,768 shares, compared to its average volume of 1,448,119. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.40 and a current ratio of 1.09. The firm has a market cap of $16.39 billion, a PE ratio of -154.35, a price-to-earnings-growth ratio of 2.69 and a beta of 1.25. Stanley Black & Decker has a 12 month low of $76.26 and a 12 month high of $107.06. The stock’s fifty day moving average price is $85.33 and its two-hundred day moving average price is $89.16.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings data on Tuesday, July 30th. The industrial products company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.84 by $0.25. Stanley Black & Decker had a positive return on equity of 3.95% and a negative net margin of 0.66%. The business had revenue of $4.02 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the business earned ($0.11) earnings per share. Stanley Black & Decker’s revenue for the quarter was down 3.2% on a year-over-year basis. On average, analysts forecast that Stanley Black & Decker will post 3.98 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Janet Link sold 3,442 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $86.80, for a total value of $298,765.60. Following the sale, the senior vice president now directly owns 32,860 shares of the company’s stock, valued at $2,852,248. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.50% of the company’s stock.

Hedge Funds Weigh In On Stanley Black & Decker

A number of institutional investors have recently made changes to their positions in the stock. First United Bank & Trust bought a new position in Stanley Black & Decker in the fourth quarter valued at $25,000. Quarry LP bought a new position in shares of Stanley Black & Decker during the 4th quarter valued at about $36,000. Principal Securities Inc. purchased a new position in shares of Stanley Black & Decker during the 4th quarter valued at about $38,000. AlphaMark Advisors LLC purchased a new stake in Stanley Black & Decker in the second quarter worth approximately $32,000. Finally, Brown Brothers Harriman & Co. boosted its stake in shares of Stanley Black & Decker by 39.3% in the 4th quarter. Brown Brothers Harriman & Co. now owns 496 shares of the industrial products company’s stock valued at $49,000 after purchasing an additional 140 shares in the last quarter. Institutional investors own 87.77% of the company’s stock.

About Stanley Black & Decker

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.