Morgan Stanley Lowers Stanley Black & Decker (NYSE:SWK) Price Target to $98.00

Stanley Black & Decker (NYSE:SWK) had its price target cut by stock analysts at Morgan Stanley from $107.00 to $98.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the industrial products company’s stock. Morgan Stanley’s price objective indicates a potential upside of 5.45% from the stock’s previous close.

Several other research firms also recently commented on SWK. StockNews.com raised shares of Stanley Black & Decker from a “hold” rating to a “buy” rating in a research note on Monday. Wells Fargo & Company decreased their price target on shares of Stanley Black & Decker from $104.00 to $100.00 and set an “equal weight” rating on the stock in a research note on Wednesday. The Goldman Sachs Group lifted their price target on shares of Stanley Black & Decker from $94.00 to $107.00 and gave the stock a “neutral” rating in a research note on Thursday, October 10th. Barclays lifted their price target on shares of Stanley Black & Decker from $96.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 2nd. Finally, UBS Group raised their target price on shares of Stanley Black & Decker from $110.00 to $121.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $102.29.

Stanley Black & Decker Trading Down 1.0 %

Shares of SWK opened at $92.94 on Wednesday. The firm’s 50 day simple moving average is $103.42 and its 200 day simple moving average is $93.75. The company has a market capitalization of $14.31 billion, a P/E ratio of -67.84, a P/E/G ratio of 2.71 and a beta of 1.24. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.27 and a quick ratio of 0.42. Stanley Black & Decker has a 1-year low of $77.70 and a 1-year high of $110.88.

Stanley Black & Decker (NYSE:SWK) last announced its earnings results on Tuesday, October 29th. The industrial products company reported $1.22 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.17. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.80 billion. Stanley Black & Decker had a negative net margin of 1.87% and a positive return on equity of 6.06%. Stanley Black & Decker’s quarterly revenue was down 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.05 earnings per share. Sell-side analysts forecast that Stanley Black & Decker will post 4.18 earnings per share for the current fiscal year.

Institutional Trading of Stanley Black & Decker

Several large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its holdings in Stanley Black & Decker by 3.2% in the third quarter. Principal Financial Group Inc. now owns 177,100 shares of the industrial products company’s stock valued at $19,504,000 after acquiring an additional 5,493 shares in the last quarter. Advisors Management Group Inc. ADV lifted its position in Stanley Black & Decker by 3.2% during the third quarter. Advisors Management Group Inc. ADV now owns 3,820 shares of the industrial products company’s stock valued at $421,000 after buying an additional 117 shares during the period. Concurrent Investment Advisors LLC purchased a new position in Stanley Black & Decker during the third quarter valued at $218,000. Avidian Wealth Enterprises LLC purchased a new position in Stanley Black & Decker during the third quarter valued at $268,000. Finally, Greenwood Capital Associates LLC lifted its position in Stanley Black & Decker by 1.4% during the third quarter. Greenwood Capital Associates LLC now owns 12,087 shares of the industrial products company’s stock valued at $1,331,000 after buying an additional 168 shares during the period. Institutional investors own 87.77% of the company’s stock.

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.