Wall Street Zen Downgrades Standex International (NYSE:SXI) to Hold

Standex International (NYSE:SXI) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued on Saturday.

Several other analysts also recently commented on SXI. Roth Capital lifted their target price on shares of Standex International from $205.00 to $260.00 and gave the stock a “buy” rating in a report on Monday, November 3rd. DA Davidson restated a “buy” rating and set a $272.00 price objective on shares of Standex International in a report on Monday, November 24th. Barrington Research reiterated an “outperform” rating and set a $260.00 target price on shares of Standex International in a research note on Thursday, November 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Standex International in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $264.00.

Standex International Price Performance

NYSE:SXI opened at $245.16 on Friday. Standex International has a 12-month low of $128.85 and a 12-month high of $247.16. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 52.84, a P/E/G ratio of 3.07 and a beta of 1.17. The stock’s 50 day moving average price is $228.24 and its two-hundred day moving average price is $193.81. The company has a quick ratio of 2.10, a current ratio of 2.88 and a debt-to-equity ratio of 0.78.

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

Insider Buying and Selling

In other news, insider Vineet Kshirsagar sold 650 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $233.37, for a total value of $151,690.50. Following the completion of the transaction, the insider directly owned 5,047 shares in the company, valued at approximately $1,177,818.39. The trade was a 11.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas E. Chorman sold 1,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $223.31, for a total transaction of $223,310.00. Following the sale, the director owned 13,229 shares in the company, valued at $2,954,167.99. This represents a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 32,473 shares of company stock worth $7,389,509 in the last ninety days. 2.52% of the stock is owned by company insiders.

Institutional Investors Weigh In On Standex International

Large investors have recently modified their holdings of the business. Wasatch Advisors LP increased 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 purchasing an additional 332,941 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Standex International by 636.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 240,623 shares of the industrial products company’s stock valued at $38,796,000 after acquiring an additional 207,961 shares during the last quarter. Voya Investment Management LLC raised its stake in Standex International by 1,619.8% during the first quarter. Voya Investment Management LLC now owns 130,860 shares of the industrial products company’s stock worth $21,119,000 after acquiring an additional 123,251 shares in the last quarter. Segall Bryant & Hamill LLC bought a new position in shares of Standex International in the third quarter worth about $19,763,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Standex International in the 3rd quarter valued at approximately $17,766,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

Standex International Company Profile

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.