Wells Fargo & Company Issues Positive Forecast for Stanley Black & Decker (NYSE:SWK) Stock Price

Key Points

• Wells Fargo & Company raised the price target for Stanley Black & Decker to $75.00, indicating a potential upside of 9.41% from its previous close.
• Other analysts' reports included price target increases from Robert W. Baird to $78.00 and a downgrade from Wall Street Zen to a "hold" rating.
• Currently, Stanley Black & Decker has an average rating of "Hold" among analysts, with a target price of $93.90.

Stanley Black & Decker (NYSE:SWK - Get Free Report) had its price target hoisted by equities research analysts at Wells Fargo & Company from $70.00 to $75.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "equal weight" rating on the industrial products company's stock. Wells Fargo & Company's price objective suggests a potential upside of 13.54% from the stock's previous close.

A number of other analysts have also commented on the company. Robert W. Baird lifted their target price on Stanley Black & Decker from $65.00 to $78.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen lowered Stanley Black & Decker from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. UBS Group reduced their target price on Stanley Black & Decker from $120.00 to $100.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Barclays raised Stanley Black & Decker from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $69.00 to $90.00 in a report on Tuesday, May 13th. Finally, Wolfe Research raised Stanley Black & Decker from an "underperform" rating to a "peer perform" rating in a report on Tuesday, July 8th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $91.10.

Stanley Black & Decker Stock Down 2.4%

Shares of SWK traded down $1.59 on Wednesday, reaching $66.06. The stock had a trading volume of 491,028 shares, compared to its average volume of 2,455,561. The firm has a market capitalization of $10.22 billion, a price-to-earnings ratio of 21.03, 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 quick ratio of 0.36 and a current ratio of 1.04. The company has a 50-day simple moving average of $68.45 and a 200-day simple moving average of $73.18. Stanley Black & Decker has a 12-month low of $53.91 and a 12-month high of $110.88.

Stanley Black & Decker (NYSE:SWK - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The industrial products company reported $1.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.38 by $0.70. The business had revenue of $3.95 billion during the quarter, compared to analysts' expectations of $4.01 billion. Stanley Black & Decker had a return on equity of 7.76% and a net margin of 3.15%. The firm's quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 earnings per share. Sell-side analysts predict that Stanley Black & Decker will post 5.16 EPS for the current year.

Institutional Investors Weigh In On Stanley Black & Decker

A number of hedge funds have recently made changes to their positions in SWK. Capital Research Global Investors lifted its position in shares of Stanley Black & Decker by 126.5% in the fourth quarter. Capital Research Global Investors now owns 5,485,421 shares of the industrial products company's stock worth $440,424,000 after buying an additional 3,063,114 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Stanley Black & Decker by 59.8% during the first quarter. Ameriprise Financial Inc. now owns 3,541,878 shares of the industrial products company's stock worth $272,294,000 after acquiring an additional 1,326,113 shares during the last quarter. Vulcan Value Partners LLC bought a new stake in Stanley Black & Decker during the first quarter worth approximately $72,063,000. Invesco Ltd. increased its stake in Stanley Black & Decker by 22.6% during the fourth quarter. Invesco Ltd. now owns 4,139,196 shares of the industrial products company's stock worth $332,336,000 after acquiring an additional 763,219 shares during the last quarter. Finally, Clean Energy Transition LLP increased its stake in Stanley Black & Decker by 85.2% during the first quarter. Clean Energy Transition LLP now owns 1,373,433 shares of the industrial products company's stock worth $105,590,000 after acquiring an additional 632,029 shares during the last quarter. 87.77% of the stock is currently owned by hedge funds and other institutional investors.

Stanley Black & Decker Company Profile

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.