Stanley Black & Decker (NYSE:SWK) Lifted to “Buy” at Bank of America

Bank of America upgraded shares of Stanley Black & Decker (NYSE:SWK) from an underperform rating to a buy rating in a research report released on Thursday morning, Briefing.com Automated Import reports. They currently have $182.00 price target on the industrial products company’s stock. The analysts noted that the move was a valuation call.

Several other analysts have also recently issued reports on the stock. Gabelli cut shares of Stanley Black & Decker from a buy rating to a hold rating in a research note on Wednesday, July 24th. They noted that the move was a valuation call. Morgan Stanley lowered their price objective on shares of Stanley Black & Decker from $161.00 to $158.00 and set an overweight rating for the company in a research note on Monday, October 28th. Wells Fargo & Co reissued a buy rating on shares of Stanley Black & Decker in a research note on Tuesday, October 15th. Zelman & Associates lowered shares of Stanley Black & Decker from a buy rating to a hold rating in a report on Friday, October 25th. Finally, KeyCorp upgraded shares of Stanley Black & Decker from a sector weight rating to an overweight rating and set a $160.00 target price on the stock in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. Stanley Black & Decker presently has a consensus rating of Buy and a consensus price target of $160.73.

Shares of NYSE SWK traded up $1.52 during trading on Thursday, hitting $157.63. 975,445 shares of the company traded hands, compared to its average volume of 1,090,895. Stanley Black & Decker has a 1 year low of $110.54 and a 1 year high of $162.15. The company has a 50-day moving average price of $149.18 and a 200-day moving average price of $142.57. The firm has a market capitalization of $23.73 billion, a P/E ratio of 19.34, a P/E/G ratio of 2.07 and a beta of 1.40. The company has a quick ratio of 0.47, a current ratio of 0.98 and a debt-to-equity ratio of 0.52.

Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings data on Thursday, October 24th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.10. Stanley Black & Decker had a net margin of 4.80% and a return on equity of 17.10%. The company had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same period in the previous year, the company earned $2.08 EPS. The business’s quarterly revenue was up 4.0% compared to the same quarter last year. Research analysts predict that Stanley Black & Decker will post 8.39 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 17th. Investors of record on Friday, November 29th will be issued a dividend of $0.69 per share. The ex-dividend date of this dividend is Wednesday, November 27th. This represents a $2.76 annualized dividend and a dividend yield of 1.75%. Stanley Black & Decker’s payout ratio is 33.87%.

Stanley Black & Decker declared that its board has authorized a stock buyback plan on Thursday, October 24th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the industrial products company to reacquire up to 0.9% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

In other Stanley Black & Decker news, EVP Jeffrey D. Ansell sold 20,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $161.90, for a total value of $3,238,000.00. Following the transaction, the executive vice president now owns 46,574 shares in the company, valued at approximately $7,540,330.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Donald Allan sold 2,912 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $155.48, for a total transaction of $452,757.76. Following the completion of the transaction, the chief financial officer now owns 127,403 shares in the company, valued at approximately $19,808,618.44. The disclosure for this sale can be found here. Insiders have sold a total of 44,073 shares of company stock worth $7,042,612 in the last 90 days. Company insiders own 1.03% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Usca Ria LLC acquired a new position in Stanley Black & Decker in the 3rd quarter worth $28,000. Massey Quick Simon & CO. LLC lifted its holdings in Stanley Black & Decker by 3,900.0% in the 3rd quarter. Massey Quick Simon & CO. LLC now owns 200 shares of the industrial products company’s stock worth $29,000 after buying an additional 195 shares in the last quarter. Doyle Wealth Management acquired a new position in Stanley Black & Decker in the 2nd quarter worth $30,000. Meeder Asset Management Inc. acquired a new position in Stanley Black & Decker in the 2nd quarter worth $36,000. Finally, Flagship Harbor Advisors LLC lifted its holdings in Stanley Black & Decker by 134.5% in the 2nd quarter. Flagship Harbor Advisors LLC now owns 272 shares of the industrial products company’s stock worth $39,000 after buying an additional 156 shares in the last quarter. Hedge funds and other institutional investors own 85.67% of the company’s stock.

About Stanley Black & Decker

Stanley Black & Decker, Inc engages in tools and storage, industrial, and security businesses worldwide. Its Tools & Storage segment offers power tools and equipment, including professional products, such as professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products comprising corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as lawn and garden products and related accessories, and home products.

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