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

Stanley Black & Decker (NYSE:SWK) had its price objective decreased by Wells Fargo & Company from $80.00 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 would indicate a potential upside of 11.01% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley reaffirmed a “positive” rating and set a $80.00 price target on shares of Stanley Black & Decker in a research note on Tuesday, October 14th. Wolfe Research upgraded shares of Stanley Black & Decker from an “underperform” rating to a “peer perform” rating in a research report on Tuesday, July 8th. Wall Street Zen downgraded shares of Stanley Black & Decker from a “buy” rating to a “hold” rating in a research report on Sunday, October 19th. The Goldman Sachs Group restated a “neutral” rating and issued a $80.00 price target on shares of Stanley Black & Decker in a report on Wednesday, July 30th. Finally, Robert W. Baird lifted their price objective on Stanley Black & Decker from $65.00 to $78.00 and gave the stock a “neutral” rating in a report on Tuesday, July 22nd. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $88.10.

Stanley Black & Decker Stock Performance

NYSE SWK opened at $67.56 on Wednesday. The stock has a market capitalization of $10.46 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.46 and a beta of 1.21. The business’s 50 day moving average is $72.59 and its two-hundred day moving average is $69.75. Stanley Black & Decker has a 12-month low of $53.91 and a 12-month high of $93.94. The company has a current ratio of 1.04, a quick ratio of 0.34 and a debt-to-equity ratio of 0.52.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Thursday, June 30th. The industrial products company reported $2.85 EPS for the quarter. Stanley Black & Decker had a return on equity of 7.76% and a net margin of 3.15%.The business had revenue of $3.72 billion during the quarter. Research analysts expect that Stanley Black & Decker will post 5.16 EPS for the current year.

Hedge Funds Weigh In On Stanley Black & Decker

Several hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Stanley Black & Decker in the second quarter valued at $107,111,000. Ameriprise Financial Inc. lifted its holdings in Stanley Black & Decker by 59.8% in the 1st quarter. Ameriprise Financial Inc. now owns 3,541,878 shares of the industrial products company’s stock valued at $272,294,000 after purchasing an additional 1,326,113 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of Stanley Black & Decker by 129.5% during the 2nd quarter. Schroder Investment Management Group now owns 1,753,050 shares of the industrial products company’s stock worth $118,769,000 after purchasing an additional 989,032 shares during the last quarter. Vulcan Value Partners LLC purchased a new stake in shares of Stanley Black & Decker during the first quarter worth about $72,063,000. Finally, ProShare Advisors LLC raised its position in shares of Stanley Black & Decker by 38.8% in the second quarter. ProShare Advisors LLC now owns 2,723,331 shares of the industrial products company’s stock valued at $184,506,000 after buying an additional 761,191 shares during the last quarter. Hedge funds and other institutional investors 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.