Standex International’s (SXI) “Buy” Rating Reiterated at DA Davidson

Standex International (NYSE:SXI)‘s stock had its “buy” rating reissued by investment analysts at DA Davidson in a research note issued to investors on Monday,Benzinga reports. They currently have a $272.00 price objective on the industrial products company’s stock. DA Davidson’s target price suggests a potential upside of 17.20% from the company’s current price.

Several other research analysts have also recently weighed in on SXI. Roth Capital upped their price target on shares of Standex International from $205.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Wall Street Zen upgraded Standex International from a “hold” rating to a “buy” rating in a research note on Saturday, November 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Standex International in a research report on Wednesday, October 8th. Finally, Barrington Research reissued an “outperform” rating and set a $260.00 price objective on shares of Standex International in a report on Thursday. Four analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $264.00.

Standex International Price Performance

Shares of SXI traded up $2.78 during midday trading on Monday, hitting $232.09. 51,818 shares of the company traded hands, compared to its average volume of 99,280. Standex International has a one year low of $128.85 and a one year high of $247.16. The firm has a market cap of $2.81 billion, a P/E ratio of 50.07, a PEG ratio of 3.07 and a beta of 1.17. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.88 and a quick ratio of 2.10. The stock has a 50-day moving average of $224.91 and a 200-day moving average of $190.77.

Standex International (NYSE:SXI) last issued its quarterly earnings data on Friday, October 31st. The industrial products company reported $1.99 EPS for the quarter, beating the consensus estimate of $1.94 by $0.05. The company had revenue of $217.43 million during the quarter, compared to analysts’ expectations of $215.96 million. Standex International had a net margin of 7.06% and a return on equity of 13.92%. Standex International’s revenue for the quarter was up 27.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.84 earnings per share. As a group, sell-side analysts predict that Standex International will post 7.9 EPS for the current fiscal year.

Insider Transactions at Standex International

In other Standex International news, CFO Ademir Sarcevic sold 1,823 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $230.12, for a total transaction of $419,508.76. Following the transaction, the chief financial officer directly owned 9,341 shares in the company, valued at $2,149,550.92. This trade represents a 16.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vineet Kshirsagar sold 650 shares of Standex International stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $233.37, for a total transaction of $151,690.50. Following the transaction, the insider directly owned 5,047 shares in the company, valued at $1,177,818.39. This trade represents a 11.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 32,473 shares of company stock valued at $7,389,509. 2.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Standex International

Several institutional investors and hedge funds have recently made changes to their positions in SXI. Financial Consulate Inc. bought a new stake in Standex International in the third quarter worth $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Standex International in the third quarter worth about $28,000. AlphaQuest LLC lifted its stake in shares of Standex International by 72.8% in the 3rd quarter. AlphaQuest LLC now owns 197 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 83 shares during the last quarter. Huntington National Bank boosted its holdings in Standex International by 52.6% during the 3rd quarter. Huntington National Bank now owns 238 shares of the industrial products company’s stock valued at $50,000 after acquiring an additional 82 shares during the period. Finally, Aster Capital Management DIFC Ltd increased its stake in Standex International by 500.0% in the 3rd quarter. Aster Capital Management DIFC Ltd now owns 252 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 210 shares during the period. Institutional investors own 90.35% of the company’s stock.

About Standex International

Standex International Corporation, together with subsidiaries, engages in the manufacture and sale of various products and services for commercial and industrial markets in the United States and internationally. It operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.