Stanley Black & Decker (NYSE:SWK) Given New $85.00 Price Target at Wells Fargo & Company

Stanley Black & Decker (NYSE:SWK) had its price target reduced by equities researchers at Wells Fargo & Company from $92.00 to $85.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 3.99% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Barclays cut Stanley Black & Decker from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $100.00 to $86.00 in a research note on Tuesday, June 4th. Robert W. Baird dropped their price target on Stanley Black & Decker from $82.00 to $80.00 and set a “neutral” rating on the stock in a research note on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $94.67.

Stanley Black & Decker Stock Up 1.1 %

Shares of Stanley Black & Decker stock traded up $0.89 on Wednesday, reaching $81.74. 187,719 shares of the company were exchanged, compared to its average volume of 1,395,005. Stanley Black & Decker has a one year low of $76.26 and a one year high of $104.21. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of -118.46, a PEG ratio of 2.23 and a beta of 1.25. The company has a current ratio of 1.09, a quick ratio of 0.40 and a debt-to-equity ratio of 0.63. The company has a 50-day moving average of $84.99 and a 200 day moving average of $89.94.

Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.01. Stanley Black & Decker had a positive return on equity of 3.95% and a negative net margin of 0.66%. The company had revenue of $3.87 billion for the quarter, compared to analysts’ expectations of $3.83 billion. During the same quarter in the prior year, the business posted ($0.41) EPS. The business’s revenue was down 1.6% compared to the same quarter last year. On average, equities research analysts forecast that Stanley Black & Decker will post 4.05 earnings per share for the current year.

Insider Activity at Stanley Black & Decker

In related news, SVP Janet Link sold 3,442 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Stanley Black & Decker

Several large investors have recently bought and sold shares of the company. M&T Bank Corp raised its position in Stanley Black & Decker by 0.3% in the fourth quarter. M&T Bank Corp now owns 37,763 shares of the industrial products company’s stock valued at $3,705,000 after purchasing an additional 113 shares during the last quarter. Crestwood Advisors Group LLC raised its position in shares of Stanley Black & Decker by 0.6% during the fourth quarter. Crestwood Advisors Group LLC now owns 20,885 shares of the industrial products company’s stock worth $2,049,000 after acquiring an additional 117 shares during the last quarter. Czech National Bank raised its position in shares of Stanley Black & Decker by 0.5% during the first quarter. Czech National Bank now owns 26,975 shares of the industrial products company’s stock worth $2,642,000 after acquiring an additional 124 shares during the last quarter. Brown Brothers Harriman & Co. raised its position in shares of Stanley Black & Decker by 39.3% during the fourth quarter. Brown Brothers Harriman & Co. now owns 496 shares of the industrial products company’s stock worth $49,000 after acquiring an additional 140 shares during the last quarter. Finally, Principle Wealth Partners LLC raised its position in shares of Stanley Black & Decker by 2.9% during the first quarter. Principle Wealth Partners LLC now owns 6,371 shares of the industrial products company’s stock worth $624,000 after purchasing an additional 182 shares during the period. 87.77% of the stock is currently owned by institutional investors.

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.