Wells Fargo & Company Has Lowered Expectations for Stanley Black & Decker (NYSE:SWK) Stock Price

Stanley Black & Decker (NYSE:SWK) had its price target lowered by equities researchers at Wells Fargo & Company from $80.00 to $75.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 13.99% from the stock’s current price.

Several other research analysts have also commented on SWK. Barclays lowered their price objective on shares of Stanley Black & Decker from $90.00 to $89.00 and set an “overweight” rating for the company in a research note on Wednesday, July 30th. Wolfe Research raised shares of Stanley Black & Decker from an “underperform” rating to a “peer perform” rating in a research note on Tuesday, July 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Stanley Black & Decker in a research note on Wednesday, October 8th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $80.00 price objective on shares of Stanley Black & Decker in a research note on Wednesday, July 30th. Finally, Jefferies Financial Group set a $86.00 price objective on Stanley Black & Decker and gave the company a “buy” rating in a research note on Monday, August 18th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $87.60.

Stanley Black & Decker Trading Down 1.3%

Shares of NYSE SWK traded down $0.83 during mid-day trading on Wednesday, reaching $65.80. 219,982 shares of the company’s stock were exchanged, compared to its average volume of 2,314,080. The firm has a market capitalization of $10.18 billion, a price-to-earnings ratio of 20.95, a PEG ratio of 1.46 and a beta of 1.21. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.34 and a current ratio of 1.04. Stanley Black & Decker has a 52-week low of $53.91 and a 52-week high of $95.41. The company’s 50-day moving average is $72.87 and its 200-day moving average is $69.76.

Stanley Black & Decker (NYSE:SWK) last released its quarterly earnings results on Thursday, June 30th. The industrial products company reported $2.85 earnings per share for the quarter. Stanley Black & Decker had a return on equity of 7.76% and a net margin of 3.15%.The business had revenue of $3.72 billion during the quarter. Analysts expect that Stanley Black & Decker will post 5.16 EPS for the current fiscal year.

Institutional Trading of Stanley Black & Decker

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Stanley Black & Decker by 0.5% in the 2nd quarter. Vanguard Group Inc. now owns 18,663,999 shares of the industrial products company’s stock valued at $1,264,486,000 after purchasing an additional 91,016 shares during the last quarter. State Street Corp raised its position in Stanley Black & Decker by 2.3% in the 2nd quarter. State Street Corp now owns 9,423,438 shares of the industrial products company’s stock valued at $638,438,000 after purchasing an additional 215,960 shares during the last quarter. Geode Capital Management LLC raised its position in Stanley Black & Decker by 1.7% in the 2nd quarter. Geode Capital Management LLC now owns 3,965,007 shares of the industrial products company’s stock valued at $268,110,000 after purchasing an additional 65,327 shares during the last quarter. Ameriprise Financial Inc. raised its position in Stanley Black & Decker by 59.8% in the 1st quarter. Ameriprise Financial Inc. now owns 3,541,878 shares of the industrial products company’s stock valued at $272,294,000 after purchasing an additional 1,326,113 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Stanley Black & Decker by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,199,427 shares of the industrial products company’s stock valued at $237,813,000 after purchasing an additional 17,084 shares during the last quarter. Hedge funds and other institutional investors own 87.77% of the company’s stock.

Stanley Black & Decker Company Profile

Stanley Black & Decker, Inc engages in the provision of power and hand tools, and related accessories, products, services and equipment for oil and gas, infrastructure applications, commercial electronic security and monitoring systems, healthcare solutions, and mechanical access solutions. It operates through the Tools and Outdoor and Industrial segments.