Wells Fargo & Company Cuts Stanley Black & Decker (NYSE:SWK) Price Target to $90.00

Stanley Black & Decker (NYSE:SWK) had its price objective lowered by Wells Fargo & Company from $95.00 to $90.00 in a research note released on Tuesday,Benzinga reports. The firm currently has an equal weight rating on the industrial products company’s stock.

Other research analysts have also issued reports about the company. The Goldman Sachs Group upped their price objective on Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Morgan Stanley lowered their price target on shares of Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 30th. Mizuho raised shares of Stanley Black & Decker from a “neutral” rating to an “outperform” rating and set a $110.00 price objective for the company in a report on Thursday, December 19th. Barclays raised their target price on shares of Stanley Black & Decker from $96.00 to $100.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird cut their price target on Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating for the company in a research note on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $101.25.

Stanley Black & Decker Price Performance

NYSE:SWK opened at $81.54 on Tuesday. The company has a market cap of $12.57 billion, a P/E ratio of -59.52, a P/E/G ratio of 2.24 and a beta of 1.24. The firm’s fifty day moving average price is $85.41 and its two-hundred day moving average price is $93.12. Stanley Black & Decker has a one year low of $77.70 and a one year high of $110.88. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.29 and a quick ratio of 0.42.

Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings results on Tuesday, October 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.05 by $0.17. Stanley Black & Decker had a negative net margin of 1.33% and a positive return on equity of 6.44%. The firm had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.80 billion. During the same period in the prior year, the firm earned $1.05 EPS. The business’s revenue was down 5.1% on a year-over-year basis. Equities analysts expect that Stanley Black & Decker will post 4.12 earnings per share for the current year.

Stanley Black & Decker Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 17th. Investors of record on Friday, November 29th were paid a $0.82 dividend. The ex-dividend date was Friday, November 29th. This represents a $3.28 dividend on an annualized basis and a yield of 4.02%. Stanley Black & Decker’s dividend payout ratio (DPR) is -239.42%.

Institutional Investors Weigh In On Stanley Black & Decker

Large investors have recently modified their holdings of the business. Nordea Investment Management AB raised its holdings in shares of Stanley Black & Decker by 9.5% during the 4th quarter. Nordea Investment Management AB now owns 13,167 shares of the industrial products company’s stock worth $1,063,000 after buying an additional 1,142 shares in the last quarter. Principal Financial Group Inc. raised its stake in Stanley Black & Decker by 3.2% during the third quarter. Principal Financial Group Inc. now owns 177,100 shares of the industrial products company’s stock worth $19,504,000 after acquiring an additional 5,493 shares in the last quarter. Franklin Resources Inc. lifted its holdings in shares of Stanley Black & Decker by 12.6% in the third quarter. Franklin Resources Inc. now owns 168,099 shares of the industrial products company’s stock worth $18,298,000 after acquiring an additional 18,776 shares during the last quarter. Synovus Financial Corp acquired a new stake in shares of Stanley Black & Decker in the 3rd quarter valued at approximately $307,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Stanley Black & Decker during the 3rd quarter valued at approximately $602,000. 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.