Sidoti Downgrades Standex International Corporation (SXI) to Neutral
Standex International Corporation (NYSE:SXI) was downgraded by equities researchers at Sidoti from a “buy” rating to a “neutral” rating in a report issued on Wednesday, The Fly reports.
Several other brokerages have also issued reports on SXI. Zacks Investment Research lowered Standex International Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, September 23rd. FBR & Co reaffirmed an “outperform” rating on shares of Standex International Corporation in a research note on Tuesday, July 11th. Finally, BidaskClub raised Standex International Corporation from a “strong sell” rating to a “sell” rating in a research note on Saturday, June 10th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $108.50.
Standex International Corporation (NYSE SXI) opened at 108.10 on Wednesday. The stock has a market cap of $1.38 billion, a P/E ratio of 29.64 and a beta of 1.57. Standex International Corporation has a 52-week low of $74.35 and a 52-week high of $110.00. The stock has a 50 day moving average price of $98.35 and a 200 day moving average price of $93.66.
Standex International Corporation (NYSE:SXI) last posted its quarterly earnings results on Monday, August 28th. The industrial products company reported $1.40 earnings per share for the quarter, beating the consensus estimate of $1.29 by $0.11. The firm had revenue of $217.10 million for the quarter, compared to analyst estimates of $210.05 million. Standex International Corporation had a return on equity of 14.76% and a net margin of 6.08%. Standex International Corporation’s quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $1.31 earnings per share. On average, equities research analysts forecast that Standex International Corporation will post $5.07 EPS for the current year.
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In other Standex International Corporation news, Director Gerald H. Fickenscher sold 2,000 shares of Standex International Corporation stock in a transaction dated Wednesday, August 30th. The stock was sold at an average price of $94.64, for a total value of $189,280.00. Following the transaction, the director now owns 9,915 shares in the company, valued at $938,355.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Piedmont Investment Advisors LLC acquired a new position in shares of Standex International Corporation in the 2nd quarter worth approximately $250,000. BlueCrest Capital Management Ltd acquired a new position in Standex International Corporation during the 2nd quarter worth approximately $288,000. State Street Corp raised its stake in Standex International Corporation by 3.5% during the 2nd quarter. State Street Corp now owns 302,261 shares of the industrial products company’s stock worth $27,414,000 after buying an additional 10,163 shares during the period. Janus Henderson Group PLC acquired a new position in Standex International Corporation during the 2nd quarter worth approximately $26,196,000. Finally, Royal Bank of Canada raised its stake in Standex International Corporation by 7.7% during the 2nd quarter. Royal Bank of Canada now owns 248,872 shares of the industrial products company’s stock worth $22,572,000 after buying an additional 17,824 shares during the period. Institutional investors and hedge funds own 86.86% of the company’s stock.
About Standex International Corporation
Standex International Corporation is a diversified manufacturing company. The Company is a manufacturer of a range of products and services for diverse commercial and industrial market segments. The Company has 11 operating segments, aggregated and organized into five segments: Food Service Equipment, Engraving, Engineering Technologies, Electronics and Hydraulics.
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