L.S. Starrett (NYSE:SCX) Earns Buy Rating from Analysts at StockNews.com

Stock analysts at StockNews.com initiated coverage on shares of L.S. Starrett (NYSE:SCX) in a note issued to investors on Tuesday. The brokerage set a “buy” rating on the stock.

L.S. Starrett Price Performance

Shares of NYSE SCX opened at $16.10 on Tuesday. The stock’s 50-day moving average is $14.50 and its two-hundred day moving average is $12.47. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.11 and a quick ratio of 1.42. L.S. Starrett has a 1-year low of $8.55 and a 1-year high of $16.17. The company has a market cap of $120.91 million, a price-to-earnings ratio of 6.26 and a beta of 0.47.

L.S. Starrett (NYSE:SCX) last issued its quarterly earnings results on Friday, February 16th. The company reported ($0.05) earnings per share for the quarter. L.S. Starrett had a return on equity of 3.45% and a net margin of 7.72%. The company had revenue of $62.08 million for the quarter.

Institutional Investors Weigh In On L.S. Starrett

Several large investors have recently bought and sold shares of SCX. O Shaughnessy Asset Management LLC increased its holdings in L.S. Starrett by 40.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 25,154 shares of the company’s stock worth $270,000 after purchasing an additional 7,185 shares during the period. Victory Capital Management Inc. purchased a new position in shares of L.S. Starrett in the 4th quarter valued at about $114,000. Finally, Privium Fund Management UK Ltd purchased a new position in shares of L.S. Starrett in the 1st quarter valued at about $184,000. Hedge funds and other institutional investors own 43.40% of the company’s stock.

About L.S. Starrett

The L.S. Starrett Company, together with its subsidiaries, manufactures and sells industrial, professional, and consumer measuring and cutting tools, and related products in North America, Brazil, and China. The company's products include precision tools, electronic gauges, gage blocks, optical vision and laser measuring equipment, custom engineered granite solutions, tape measures, levels, chalk products, squares, band saw blades, hole saws, hacksaw blades, jig saw blades, and reciprocating saw blades, as well as M1 lubricant and precision ground flat stock products.