Standex International (NYSE:SXI) Earns “Buy” Rating from DA Davidson

Standex International (NYSE:SXI)‘s stock had its “buy” rating restated by analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $272.00 price target on the industrial products company’s stock. DA Davidson’s price objective points to a potential upside of 12.07% from the stock’s previous close.

Several other analysts have also recently weighed in on SXI. Roth Capital lifted their price target on Standex International from $205.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. Wall Street Zen raised Standex International from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Standex International in a research report on Wednesday, October 8th. Finally, Barrington Research reaffirmed an “outperform” rating and set a $260.00 price target on shares of Standex International in a research report on Thursday, November 20th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, Standex International currently has a consensus rating of “Moderate Buy” and an average price target of $264.00.

Standex International Stock Performance

NYSE SXI opened at $242.70 on Monday. The stock has a market cap of $2.94 billion, a PE ratio of 52.31, a P/E/G ratio of 3.07 and a beta of 1.17. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.10 and a current ratio of 2.88. The firm has a 50-day moving average of $226.10 and a 200-day moving average of $191.97. Standex International has a 52-week low of $128.85 and a 52-week high of $247.16.

Standex International (NYSE:SXI) last released its quarterly earnings results on Friday, October 31st. The industrial products company reported $1.99 earnings per share for the quarter, beating the consensus estimate of $1.94 by $0.05. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The firm had revenue of $217.43 million for the quarter, compared to analysts’ expectations of $215.96 million. During the same period in the prior year, the firm earned $1.84 EPS. The business’s revenue was up 27.5% on a year-over-year basis. On average, sell-side analysts anticipate that Standex International will post 7.9 EPS for the current year.

Insiders Place Their Bets

In other Standex International news, CFO Ademir Sarcevic sold 1,823 shares of Standex International stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $230.12, for a total value of $419,508.76. Following the transaction, the chief financial officer owned 9,341 shares in the company, valued at $2,149,550.92. The trade was a 16.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vineet Kshirsagar sold 650 shares of the business’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $233.37, for a total value of $151,690.50. Following the transaction, the insider directly owned 5,047 shares of the company’s stock, valued at approximately $1,177,818.39. The trade was a 11.41% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 32,473 shares of company stock valued at $7,389,509. 2.52% of the stock is owned by corporate insiders.

Institutional Trading of Standex International

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wasatch Advisors LP lifted its stake in shares of Standex International by 62.4% in the 2nd quarter. Wasatch Advisors LP now owns 866,830 shares of the industrial products company’s stock valued at $135,642,000 after acquiring an additional 332,941 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Standex International by 636.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 240,623 shares of the industrial products company’s stock worth $38,796,000 after purchasing an additional 207,961 shares in the last quarter. Voya Investment Management LLC raised its position in Standex International by 1,619.8% in the first quarter. Voya Investment Management LLC now owns 130,860 shares of the industrial products company’s stock valued at $21,119,000 after purchasing an additional 123,251 shares during the last quarter. Segall Bryant & Hamill LLC bought a new position in Standex International in the third quarter valued at about $19,763,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Standex International during the third quarter valued at about $17,766,000. Institutional investors own 90.35% of the company’s stock.

About Standex International

Standex International Corporation, together with subsidiaries, engages in the manufacture and sale of various products and services for commercial and industrial markets in the United States and internationally. It operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.