Wells Fargo & Company Forecasts Strong Price Appreciation for Stanley Black & Decker (NYSE:SWK) Stock

Stanley Black & Decker (NYSE:SWK) had its target price upped by equities researchers at Wells Fargo & Company from $60.00 to $70.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the industrial products company’s stock. Wells Fargo & Company‘s target price would suggest a potential downside of 2.15% from the stock’s previous close.

SWK has been the subject of a number of other research reports. Robert W. Baird lifted their target price on Stanley Black & Decker from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Thursday, May 1st. UBS Group decreased their target price on shares of Stanley Black & Decker from $120.00 to $100.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. JPMorgan Chase & Co. dropped their price target on shares of Stanley Black & Decker from $93.00 to $60.00 and set an “underweight” rating for the company in a research report on Monday, May 5th. Finally, Barclays upgraded Stanley Black & Decker from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $69.00 to $90.00 in a research note on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $92.10.

Stanley Black & Decker Trading Up 1.6%

SWK stock opened at $71.54 on Tuesday. Stanley Black & Decker has a one year low of $53.91 and a one year high of $110.88. The stock has a market cap of $11.07 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 1.35 and a beta of 1.18. The company has a fifty day moving average price of $65.79 and a two-hundred day moving average price of $74.58. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.10 and a quick ratio of 0.36.

Stanley Black & Decker (NYSE:SWK) last announced its quarterly earnings results on Wednesday, April 30th. The industrial products company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.07. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.73 billion. Stanley Black & Decker had a net margin of 2.40% and a return on equity of 7.85%. Stanley Black & Decker’s quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 EPS. Equities analysts anticipate that Stanley Black & Decker will post 5.16 EPS for the current year.

Hedge Funds Weigh In On Stanley Black & Decker

A number of institutional investors have recently modified their holdings of SWK. Capital Research Global Investors boosted its stake in shares of Stanley Black & Decker by 126.5% in the 4th quarter. Capital Research Global Investors now owns 5,485,421 shares of the industrial products company’s stock valued at $440,424,000 after purchasing an additional 3,063,114 shares in the last quarter. Norges Bank bought a new position in Stanley Black & Decker in the 4th quarter valued at approximately $117,231,000. Ameriprise Financial Inc. boosted its position in Stanley Black & Decker by 59.8% in the first quarter. Ameriprise Financial Inc. now owns 3,541,878 shares of the industrial products company’s stock valued at $272,294,000 after buying an additional 1,326,113 shares in the last quarter. Vulcan Value Partners LLC bought a new stake in shares of Stanley Black & Decker during the first quarter worth $72,063,000. Finally, Invesco Ltd. increased its holdings in shares of 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 buying an additional 763,219 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

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.