Stanley Black & Decker (NYSE:SWK) Price Target Cut to $90.00 by Analysts at Wells Fargo & Company

Stanley Black & Decker (NYSE:SWK) had its price objective reduced by equities research analysts at Wells Fargo & Company from $95.00 to $90.00 in a report issued on Tuesday,Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 10.38% from the stock’s current price.

Several other research firms have also recently weighed in on SWK. Morgan Stanley decreased their target price on shares of Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 30th. StockNews.com downgraded Stanley Black & Decker from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. Mizuho raised Stanley Black & Decker from a “neutral” rating to an “outperform” rating and set a $110.00 price target for the company in a report on Thursday, December 19th. The Goldman Sachs Group raised their price target on Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Finally, Barclays raised their price target on Stanley Black & Decker from $96.00 to $100.00 and gave the company an “equal weight” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $101.25.

Stanley Black & Decker Price Performance

Shares of SWK opened at $81.54 on Tuesday. The stock has a market capitalization 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. Stanley Black & Decker has a twelve month low of $77.70 and a twelve month high of $110.88. The company has a 50 day moving average of $85.64 and a 200-day moving average of $93.20. The company has a quick ratio of 0.42, a current ratio of 1.29 and a debt-to-equity ratio of 0.63.

Stanley Black & Decker (NYSE:SWK) last released its 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 business had revenue of $3.75 billion during the quarter, compared to analysts’ expectations of $3.80 billion. During the same period last year, the business earned $1.05 earnings per share. The firm’s revenue was down 5.1% on a year-over-year basis. As a group, equities research analysts forecast that Stanley Black & Decker will post 4.12 EPS for the current fiscal year.

Institutional Trading of Stanley Black & Decker

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC lifted its stake in shares of Stanley Black & Decker by 99.3% in the third quarter. Rise Advisors LLC now owns 267 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 133 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Stanley Black & Decker by 81.4% in the second 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. Waldron Private Wealth LLC acquired a new position in shares of Stanley Black & Decker in the third quarter worth approximately $59,000. Armstrong Advisory Group Inc. acquired a new position in shares of Stanley Black & Decker in the third quarter worth approximately $72,000. Finally, Sunbelt Securities Inc. lifted its stake in shares of Stanley Black & Decker by 363.8% in the third quarter. Sunbelt Securities Inc. now owns 654 shares of the industrial products company’s stock worth $72,000 after acquiring an additional 513 shares during the period. 87.77% of the stock is currently owned by institutional investors.

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.