Barclays Has Lowered Expectations for Stanley Black & Decker (NYSE:SWK) Stock Price

Key Points

• Barclays has reduced its price target for Stanley Black & Decker (NYSE:SWK) from $90.00 to $89.00, while maintaining an "overweight" rating, indicating a potential upside of 28.46% from the current price.
• Despite mixed ratings from analysts, the consensus rating for Stanley Black & Decker is currently “Hold”, with a target price of $93.80.
• The company reported $1.08 earnings per share for the latest quarter, significantly surpassing estimates, but its revenue was down 6.2% compared to the same quarter last year.

Stanley Black & Decker (NYSE:SWK - Free Report) had its target price cut by Barclays from $90.00 to $89.00 in a report issued on Wednesday,Benzinga reports. They currently have an overweight rating on the industrial products company's stock.

SWK has been the topic of several other reports. Wolfe Research upgraded Stanley Black & Decker from an "underperform" rating to a "peer perform" rating in a report on Tuesday, July 8th. Robert W. Baird boosted their price target on Stanley Black & Decker from $65.00 to $78.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. lowered their price target on Stanley Black & Decker from $93.00 to $60.00 and set an "underweight" rating for the company in a report on Monday, May 5th. Wall Street Zen downgraded Stanley Black & Decker from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Finally, Wells Fargo & Company boosted their price target on Stanley Black & Decker from $70.00 to $75.00 and gave the company an "equal weight" rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Stanley Black & Decker has an average rating of "Hold" and an average target price of $91.10.

Stanley Black & Decker Stock Down 2.4%

Stanley Black & Decker stock traded down $1.62 during midday trading on Wednesday, hitting $66.03. 549,791 shares of the company were exchanged, compared to its average volume of 2,455,903. The company's fifty day moving average price is $68.45 and its 200-day moving average price is $73.18. The company has a market cap of $10.21 billion, a PE ratio of 20.96, a price-to-earnings-growth ratio of 1.29 and a beta of 1.18. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.04 and a quick ratio of 0.36. Stanley Black & Decker has a fifty-two week low of $53.91 and a fifty-two week high of $110.88.

Stanley Black & Decker (NYSE:SWK - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The industrial products company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.38 by $0.70. Stanley Black & Decker had a return on equity of 7.76% and a net margin of 3.15%. The firm had revenue of $3.95 billion for the quarter, compared to analyst estimates of $4.01 billion. During the same period in the previous year, the company posted $1.09 EPS. Stanley Black & Decker's revenue for the quarter was down 6.2% on a year-over-year basis. On average, research analysts predict that Stanley Black & Decker will post 5.16 EPS for the current fiscal year.

Stanley Black & Decker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 16th. Shareholders of record on Tuesday, September 2nd will be issued a $0.83 dividend. This is an increase from Stanley Black & Decker's previous quarterly dividend of $0.82. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $3.32 dividend on an annualized basis and a yield of 5.0%. Stanley Black & Decker's payout ratio is 136.10%.

Institutional Trading of Stanley Black & Decker

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allen Wealth Management LLC grew its holdings in Stanley Black & Decker by 0.9% in the 2nd quarter. Allen Wealth Management LLC now owns 18,659 shares of the industrial products company's stock valued at $1,264,000 after buying an additional 160 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Stanley Black & Decker by 3.8% during the 1st quarter. Vontobel Holding Ltd. now owns 4,494 shares of the industrial products company's stock worth $345,000 after purchasing an additional 165 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Stanley Black & Decker by 15.0% during the 2nd quarter. Parallel Advisors LLC now owns 1,313 shares of the industrial products company's stock worth $89,000 after purchasing an additional 171 shares in the last quarter. D.A. Davidson & CO. grew its holdings in shares of Stanley Black & Decker by 2.4% during the 2nd quarter. D.A. Davidson & CO. now owns 7,324 shares of the industrial products company's stock worth $496,000 after purchasing an additional 172 shares in the last quarter. Finally, Allen Mooney & Barnes Investment Advisors LLC grew its holdings in shares of Stanley Black & Decker by 0.7% during the 1st quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 24,854 shares of the industrial products company's stock worth $1,911,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company's stock.

About Stanley Black & Decker

Stanley Black & Decker, Inc engages in the provision of power and hand tools, and related accessories, products, services and equipment for oil and gas, infrastructure applications, commercial electronic security and monitoring systems, healthcare solutions, and mechanical access solutions. It operates through the Tools and Outdoor and Industrial segments.