Stanley Black & Decker (NYSE:SWK) Given New $90.00 Price Target at Wells Fargo & Company

Stanley Black & Decker (NYSE:SWK) had its price objective dropped by research analysts at Wells Fargo & Company from $95.00 to $90.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 9.81% from the company’s current price.

Several other brokerages also recently commented on SWK. The Goldman Sachs Group upped their price target on shares of Stanley Black & Decker from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Thursday, October 10th. Morgan Stanley dropped 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 note on Wednesday, October 30th. Robert W. Baird lowered their target price on Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 30th. 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 research note on Thursday, December 19th. Finally, StockNews.com downgraded Stanley Black & Decker from a “buy” rating to a “hold” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $102.00.

Stanley Black & Decker Stock Performance

SWK traded down $0.69 during trading hours on Tuesday, hitting $81.96. The company’s stock had a trading volume of 220,790 shares, compared to its average volume of 993,079. Stanley Black & Decker has a fifty-two week low of $77.70 and a fifty-two week high of $110.88. The company has a 50-day simple moving average of $86.13 and a 200 day simple moving average of $93.30. The company has a current ratio of 1.29, a quick ratio of 0.42 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $12.64 billion, a PE ratio of -59.82, a PEG ratio of 2.24 and a beta of 1.24.

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

Hedge Funds Weigh In On Stanley Black & Decker

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rise Advisors LLC boosted its position in Stanley Black & Decker by 99.3% during the 3rd 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 last quarter. EverSource Wealth Advisors LLC grew its position in 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 valued at $42,000 after purchasing an additional 237 shares in the last quarter. Waldron Private Wealth LLC bought a new position in Stanley Black & Decker in the third quarter valued at $59,000. Armstrong Advisory Group Inc. bought a new stake in Stanley Black & Decker during the 3rd quarter worth about $72,000. Finally, Sunbelt Securities Inc. boosted its stake in shares of Stanley Black & Decker by 363.8% during the 3rd quarter. Sunbelt Securities Inc. now owns 654 shares of the industrial products company’s stock worth $72,000 after buying an additional 513 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

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.