Barclays Lowers Stanley Black & Decker (NYSE:SWK) Price Target to $94.00

Stanley Black & Decker (NYSE:SWK) had its price target reduced by Barclays from $100.00 to $94.00 in a report issued on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the industrial products company’s stock.

Several other brokerages have also recently commented on SWK. The Goldman Sachs Group boosted their target price on Stanley Black & Decker from $94.00 to $107.00 and gave the stock a “neutral” rating in a report on Thursday, October 10th. Robert W. Baird dropped their price target on Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company dropped their price target on Stanley Black & Decker from $95.00 to $90.00 and set an “equal weight” rating on the stock in a report on Tuesday. Mizuho raised Stanley Black & Decker from a “neutral” rating to an “outperform” rating and set a $110.00 price target on the stock in a report on Thursday, December 19th. Finally, Morgan Stanley dropped their price target on Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Stanley Black & Decker currently has an average rating of “Hold” and a consensus price target of $101.25.

Stanley Black & Decker Price Performance

Shares of NYSE:SWK opened at $81.54 on Wednesday. Stanley Black & Decker has a 12 month low of $77.70 and a 12 month high of $110.88. The stock has a market cap of $12.57 billion, a price-to-earnings ratio of -59.52, a PEG ratio of 2.24 and a beta of 1.24. The stock’s 50 day moving average price is $85.64 and its 200 day moving average price is $93.20. 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 announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.22 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $3.80 billion. During the same quarter in the previous year, the company earned $1.05 earnings per share. The firm’s quarterly revenue was down 5.1% compared to the same quarter last year. Equities research analysts anticipate that Stanley Black & Decker will post 4.12 earnings per share for the current fiscal year.

Stanley Black & Decker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th were issued a dividend of $0.82 per share. This represents a $3.28 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Friday, November 29th. Stanley Black & Decker’s dividend payout ratio is currently -239.42%.

Hedge Funds Weigh In On Stanley Black & Decker

Institutional investors and hedge funds have recently modified their holdings of the stock. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Stanley Black & Decker by 60.9% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 29,455 shares of the industrial products company’s stock valued at $2,353,000 after purchasing an additional 11,151 shares during the last quarter. State Street Corp lifted its stake in shares of Stanley Black & Decker by 6.5% in the 3rd quarter. State Street Corp now owns 9,062,992 shares of the industrial products company’s stock valued at $998,107,000 after purchasing an additional 549,531 shares during the last quarter. FMR LLC lifted its stake in shares of Stanley Black & Decker by 40.8% in the 3rd quarter. FMR LLC now owns 923,118 shares of the industrial products company’s stock valued at $101,663,000 after purchasing an additional 267,723 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Stanley Black & Decker by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 3,579,852 shares of the industrial products company’s stock valued at $392,882,000 after purchasing an additional 35,100 shares during the last quarter. Finally, New South Capital Management Inc. lifted its stake in shares of Stanley Black & Decker by 7.4% in the 3rd quarter. New South Capital Management Inc. now owns 236,219 shares of the industrial products company’s stock valued at $26,015,000 after purchasing an additional 16,229 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other 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.