Stanley Black & Decker (NYSE:SWK) Price Target Cut to $60.00 by Analysts at JPMorgan Chase & Co.

Stanley Black & Decker (NYSE:SWK - Get Free Report) had its price objective dropped by stock analysts at JPMorgan Chase & Co. from $93.00 to $60.00 in a report issued on Monday,Benzinga reports. The brokerage presently has an "underweight" rating on the industrial products company's stock. JPMorgan Chase & Co.'s price objective points to a potential downside of 4.32% from the company's previous close.

SWK has been the topic of a number of other reports. UBS Group reduced their price target on shares of Stanley Black & Decker from $121.00 to $120.00 and set a "buy" rating on the stock in a research note on Friday, February 7th. Wells Fargo & Company decreased their target price on shares of Stanley Black & Decker from $70.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 1st. Robert W. Baird increased their price target on Stanley Black & Decker from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Thursday, May 1st. Jefferies Financial Group began coverage on Stanley Black & Decker in a research report on Wednesday, February 19th. They set a "buy" rating and a $103.00 price objective on the stock. Finally, Barclays cut their price target on Stanley Black & Decker from $94.00 to $86.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $92.70.

Stanley Black & Decker Price Performance

Stanley Black & Decker stock traded up $0.86 during trading hours on Monday, reaching $62.71. 2,867,096 shares of the stock were exchanged, compared to its average volume of 1,817,488. The stock has a 50 day moving average of $68.75 and a two-hundred day moving average of $80.53. Stanley Black & Decker has a twelve month low of $53.91 and a twelve month high of $110.88. The company has a current ratio of 1.30, a quick ratio of 0.37 and a debt-to-equity ratio of 0.64. The company has a market cap of $9.70 billion, a P/E ratio of 32.32, a price-to-earnings-growth ratio of 1.33 and a beta of 1.19.

Stanley Black & Decker (NYSE:SWK - Get Free Report) last released its earnings results on Wednesday, April 30th. The industrial products company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.07. Stanley Black & Decker had a return on equity of 7.50% and a net margin of 1.92%. The firm had revenue of $3.74 billion during the quarter, compared to analysts' expectations of $3.73 billion. During the same period in the prior year, the company earned $0.56 earnings per share. The company's quarterly revenue was down 3.2% on a year-over-year basis. Equities analysts expect that Stanley Black & Decker will post 5.16 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. CenterBook Partners LP increased its holdings in Stanley Black & Decker by 648.1% during the 1st quarter. CenterBook Partners LP now owns 83,524 shares of the industrial products company's stock worth $6,421,000 after purchasing an additional 72,359 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Stanley Black & Decker by 3.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,109,064 shares of the industrial products company's stock valued at $85,265,000 after buying an additional 37,966 shares during the last quarter. ASR Vermogensbeheer N.V. purchased a new position in Stanley Black & Decker during the 1st quarter worth $16,412,000. CM Management LLC purchased a new stake in shares of Stanley Black & Decker in the first quarter valued at about $769,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Stanley Black & Decker by 8.8% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,159 shares of the industrial products company's stock valued at $166,000 after purchasing an additional 174 shares in the last quarter. 87.77% of the stock is currently owned by institutional investors and hedge funds.

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.