Standex International (NYSE:SXI) Price Target Raised to $298.00

Standex International (NYSE:SXI) had its price target boosted by DA Davidson from $272.00 to $298.00 in a report released on Monday,Benzinga reports. The brokerage currently has a buy rating on the industrial products company’s stock.

Other research analysts have also recently issued reports about the stock. Roth Mkm upped their price target 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. Wall Street Zen cut shares of Standex International from a “buy” rating to a “hold” rating in a research report on Sunday. Barrington Research reaffirmed an “outperform” rating and set a $260.00 target price on shares of Standex International in a research report on Monday, January 26th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Standex International in a report on Wednesday, January 21st. Four investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $281.33.

Standex International Trading Down 2.4%

SXI opened at $242.15 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.10 and a current ratio of 2.87. The stock’s 50 day moving average price is $237.45 and its 200-day moving average price is $220.62. Standex International has a one year low of $128.85 and a one year high of $263.00. The stock has a market cap of $2.93 billion, a price-to-earnings ratio of 54.29 and a beta of 1.13.

Standex International (NYSE:SXI) last posted its quarterly earnings data on Friday, January 30th. The industrial products company reported $2.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.08. Standex International had a return on equity of 14.29% and a net margin of 6.20%.The company had revenue of $221.32 million during the quarter, compared to analysts’ expectations of $219.22 million. During the same quarter in the previous year, the business earned $1.91 EPS. Standex International’s revenue was up 16.6% compared to the same quarter last year. On average, equities analysts forecast that Standex International will post 7.9 EPS for the current year.

Standex International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Friday, February 13th will be paid a $0.34 dividend. The ex-dividend date of this dividend is Friday, February 13th. This represents a $1.36 dividend on an annualized basis and a yield of 0.6%. Standex International’s payout ratio is 30.49%.

Insider Buying and Selling at Standex International

In related news, Director Andy L. Nemeth acquired 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The stock was purchased at an average cost of $245.00 per share, for a total transaction of $490,000.00. Following the purchase, the director directly owned 8,639 shares of the company’s stock, valued at $2,116,555. This trade represents a 30.13% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Thomas E. Chorman sold 1,000 shares of Standex International stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $223.31, for a total value of $223,310.00. Following the completion of the transaction, the director owned 13,229 shares in the company, valued at $2,954,167.99. This trade represents a 7.03% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.52% of the stock is currently owned by company insiders.

Institutional Trading of Standex International

A number of institutional investors have recently modified their holdings of SXI. Wasatch Advisors LP raised its stake in shares of Standex International by 62.4% during the 2nd quarter. Wasatch Advisors LP now owns 866,830 shares of the industrial products company’s stock worth $135,642,000 after acquiring an additional 332,941 shares in the last quarter. Champlain Investment Partners LLC increased its position in shares of Standex International by 2.1% during the second quarter. Champlain Investment Partners LLC now owns 603,095 shares of the industrial products company’s stock worth $94,372,000 after purchasing an additional 12,544 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Standex International by 2.7% during the 2nd quarter. Geode Capital Management LLC now owns 286,756 shares of the industrial products company’s stock valued at $44,877,000 after purchasing an additional 7,522 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Standex International by 1.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 245,244 shares of the industrial products company’s stock worth $51,778,000 after purchasing an additional 4,621 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its stake in Standex International by 3.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 207,608 shares of the industrial products company’s stock worth $43,992,000 after buying an additional 6,092 shares during the last quarter. 90.35% of the stock is currently owned by institutional investors.

Standex International Company Profile

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.