Standex International (NYSE:SXI) Stock Picked Up by Analysts at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage of Standex International with a “neutral” rating and a $320 price target, implying 13.16% upside from the prior close.
• Analyst sentiment remains moderately bullish overall: Standex has a consensus “Moderate Buy” rating and an average price target of $304, including a $350 target from DA Davidson.
• Standex exceeded quarterly expectations, reporting $2.45 in adjusted EPS versus a $2.35 estimate and $228.25 million in revenue versus a $226.47 million forecast. CEO David Dunbar also sold 13,000 shares under a pre-arranged 10b5-1 plan.

Equities researchers at JPMorgan Chase & Co. initiated coverage on shares of Standex International (NYSE:SXI - Get Free Report) in a research report issued on Wednesday, Benzinga reports. The brokerage set a "neutral" rating and a $320.00 price target on the industrial products company's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 13.16% from the stock's previous close.

Several other analysts have also issued reports on the stock. DA Davidson reissued a "buy" rating and issued a $350.00 price target on shares of Standex International in a research report on Thursday, August 20th. Weiss Ratings cut shares of Standex International from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, September 18th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $304.00.

Standex International Trading Up 0.6%

Shares of SXI opened at $282.77 on Wednesday. Standex International has a fifty-two week low of $215.62 and a fifty-two week high of $363.89. The business has a 50-day moving average of $291.42 and a 200 day moving average of $288.64. The firm has a market cap of $3.47 billion, a P/E ratio of 32.62, a price-to-earnings-growth ratio of 3.13 and a beta of 1.07. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.84 and a current ratio of 2.40.

Standex International (NYSE:SXI - Get Free Report) last released its quarterly earnings data on Friday, July 31st. The industrial products company reported $2.45 EPS for the quarter, beating the consensus estimate of $2.35 by $0.10. The business had revenue of $228.25 million for the quarter, compared to the consensus estimate of $226.47 million. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The company's revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.28 earnings per share. As a group, research analysts forecast that Standex International will post 9.96 EPS for the current year.

Insider Activity

In related news, CEO David Dunbar sold 13,000 shares of the stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $290.82, for a total transaction of $3,780,660.00. Following the sale, the chief executive officer owned 75,973 shares of the company's stock, valued at approximately $22,094,467.86. This represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 13,100 shares of company stock worth $3,810,182. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Standex International during the second quarter valued at about $640,120,000. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Standex International in the second quarter worth about $149,891,000. Bank of New York Mellon Corp bought a new position in shares of Standex International in the second quarter valued at approximately $65,337,000. Sei Investments Co. boosted its position in shares of Standex International by 4.5% in the first quarter. Sei Investments Co. now owns 105,064 shares of the industrial products company's stock valued at $26,774,000 after acquiring an additional 4,520 shares during the period. Finally, Principal Financial Group Inc. boosted its position in shares of Standex International by 2.2% in the first quarter. Principal Financial Group Inc. now owns 59,171 shares of the industrial products company's stock valued at $15,080,000 after acquiring an additional 1,271 shares during the period. Institutional investors own 90.35% of the company's stock.

About Standex International

Standex International Corporation NYSE: SXI is a diversified manufacturing company headquartered in Salem, New Hampshire. Founded in 1955, the company designs and produces specialized industrial and commercial products for customers in a range of global markets.

Standex's businesses include electronic components and systems such as sensors, reed switches, magnetic components, fluid-level controls and high-voltage products. The company also provides precision engraving and texturing technologies used in tooling, packaging, printing and other manufacturing applications, as well as engineered hydraulic and industrial products.

Standex serves customers internationally through manufacturing and operating locations in North America, Europe and Asia.

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