Stanley Black & Decker Stock Rating Reaffirmed by Zacks (SWK)
Stanley Black & Decker (NYSE:SWK)‘s stock had its “neutral” rating restated by Zacks in a research note issued to investors on Friday. They currently have a $92.00 target price on the stock. Zacks‘s price target indicates a potential upside of 5.20% from the company’s current price.
Zacks’ analyst wrote, “Stanley Black and Decker’s second-quarter 2014 earnings of $1.43 per share surpassed the Zacks Consensus Estimate of $1.37, increasing 17.2% year over year. Revenues grew by a meagre 1% as positive price impact was partially offset by slow growth in emerging markets and weak CDIY outdoor product business in North America. However, operating margin improved due to pricing benefits and strict cost control. For 2014, management anticipates flat-to-modest organic revenue decline in the Security business, and predicts mid-single digit organic growth in the Industrial and CDIY segments. Earnings guidance has been increased to reflect strength in the Industrial business as well as benefits from cost-reduction actions and growth initiatives. Thus, we maintain our Neutral recommendation on the stock.”
In other Stanley Black & Decker news, Insider James J. Cannon sold 2,633 shares of the stock in a transaction dated Tuesday, July 29th. The shares were sold at an average price of $90.41, for a total transaction of $238,049.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several other analysts have also recently commented on the stock. Analysts at Credit Suisse reiterated a “neutral” rating on shares of Stanley Black & Decker in a research note on Monday, July 28th. They now have a $91.00 price target on the stock, up previously from $82.00. Separately, analysts at Credit Agricole downgraded shares of Stanley Black & Decker from a “buy” rating to an “outperform” rating in a research note on Monday, July 28th. Finally, analysts at Barclays raised their price target on shares of Stanley Black & Decker from $83.00 to $85.00 in a research note on Wednesday, July 2nd. They now have an “underweight” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $90.29.
Stanley Black & Decker (NYSE:SWK) opened at 87.45 on Friday. Stanley Black & Decker has a 52-week low of $74.13 and a 52-week high of $92.76. The stock has a 50-day moving average of $87.45 and a 200-day moving average of $83.62. The company has a market cap of $13.670 billion and a P/E ratio of 23.15.
Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Friday, July 25th. The company reported $1.43 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.37 by $0.06. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same quarter in the prior year, the company posted $1.21 earnings per share. The company’s quarterly revenue was up 1.0% on a year-over-year basis. Analysts expect that Stanley Black & Decker will post $5.53 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 16th. Stockholders of record on Friday, September 5th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.38%. The ex-dividend date is Wednesday, September 3rd. This is a boost from Stanley Black & Decker’s previous quarterly dividend of $0.50.
Stanley Black & Decker Inc is a diversified global provider of power and hand tools, mechanical access solutions (NYSE:SWK), electronic security and monitoring systems and products and services for various industrial applications.
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