Stanley Black & Decker (NYSE:SWK) Stock Gets Price Target Bump from Citigroup

Stanley Black & Decker (NYSE:SWK) had its price target hoisted by investment analysts at Citigroup from $107.00 to $140.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the industrial products company’s stock. Citigroup‘s price target suggests a potential upside of 21.67% from the stock’s previous close.

A number of other research analysts have also recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of Stanley Black & Decker from $90.00 to $115.00 and gave the company an “equal weight” rating in a research report on Thursday. Weiss Ratings reissued a “hold (c+)” rating on shares of Stanley Black & Decker in a research note on Thursday, October 29th. Robert W. Baird upped their price objective on shares of Stanley Black & Decker from $84.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Wall Street Zen downgraded shares of Stanley Black & Decker from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 24th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Stanley Black & Decker from $93.00 to $97.00 and gave the company a “hold” rating in a report on Wednesday, September 30th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $100.09.

Stanley Black & Decker Stock Down 0.2%

SWK traded down $0.20 during trading on Thursday, reaching $115.06. The stock had a trading volume of 1,894,565 shares, compared to its average volume of 1,473,636. The company has a current ratio of 1.43, a quick ratio of 0.55 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $17.38 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 1.58 and a beta of 1.15. The stock’s 50 day moving average is $94.71 and its two-hundred day moving average is $86.32. Stanley Black & Decker has a one year low of $61.90 and a one year high of $122.68.

Stanley Black & Decker (NYSE:SWK) last announced its earnings results on Wednesday, November 4th. The industrial products company reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.55 by $0.76. The firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.74 billion. Stanley Black & Decker had a net margin of 4.07% and a return on equity of 8.78%. As a group, analysts expect that Stanley Black & Decker will post 5.66 earnings per share for the current year.

Hedge Funds Weigh In On Stanley Black & Decker

Several institutional investors and hedge funds have recently modified their holdings of SWK. Illinois Municipal Retirement Fund purchased a new position in shares of Stanley Black & Decker in the 3rd quarter worth about $5,844,000. Allspring Global Investments Holdings LLC grew its position in Stanley Black & Decker by 213.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 26,150 shares of the industrial products company’s stock valued at $2,343,000 after purchasing an additional 17,811 shares during the last quarter. Parallel Advisors LLC grew its position in Stanley Black & Decker by 13.8% during the 3rd quarter. Parallel Advisors LLC now owns 2,322 shares of the industrial products company’s stock valued at $206,000 after purchasing an additional 282 shares during the last quarter. Chicago Partners Investment Group LLC grew its position in Stanley Black & Decker by 119.1% during the 3rd quarter. Chicago Partners Investment Group LLC now owns 12,405 shares of the industrial products company’s stock valued at $1,231,000 after purchasing an additional 6,742 shares during the last quarter. Finally, Sound Financial Strategies Group LLC increased its stake in Stanley Black & Decker by 34.7% during the 3rd quarter. Sound Financial Strategies Group LLC now owns 4,844 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 1,249 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors.

Key Stanley Black & Decker News

Here are the key news stories impacting Stanley Black & Decker this week:

• Positive Sentiment: SWK reported Q3 earnings per share of $2.31, well above the $1.55 analyst consensus, and raised its outlook. The results helped send shares climbing 11.4% after the announcement. Stanley Black & Decker lifts outlook, but tariff refunds boosted Q3
• Positive Sentiment: The company announced a $1 billion share buyback, which could support demand for its stock. Equity buyback announcement
• Positive Sentiment: Citigroup raised its price target to $140 and maintained a Buy rating, implying further potential upside. Citigroup rating information
• Neutral Sentiment: Analyst views are mixed: Wells Fargo raised its target to $115 but kept an Equal Weight rating, while Baird lifted its target to $115. Wells Fargo rating information Baird price target update
• Negative Sentiment: Tariff refunds contributed to the Q3 earnings beat, raising questions about how much of the improvement can continue. Revenue of $3.73 billion was also slightly below the $3.74 billion consensus. Q3 earnings beat driven by tariff refunds

About Stanley Black & Decker

Stanley Black & Decker, Inc is a global manufacturer of tools, outdoor products and related equipment. The company serves professional contractors, industrial customers, do-it-yourself consumers and outdoor enthusiasts through a portfolio that includes power tools, hand tools, storage solutions, accessories, lawn and garden equipment, and other outdoor products.

Its brands include DEWALT, CRAFTSMAN, STANLEY, BLACK+DECKER, Cub Cadet, Hustler and Troy-Bilt. Products are sold through retailers, distributors, e-commerce channels and other commercial outlets, supporting construction, maintenance, manufacturing, automotive repair and residential applications.

The company was formed in 2010 through the merger of The Stanley Works and The Black & Decker Corporation.