Sidoti Downgrades Standex International Corporation (NYSE:SXI) to Neutral

Standex International Corporation (NYSE:SXI) was downgraded by research analysts at Sidoti from a “buy” rating to a “neutral” rating in a research report issued on Wednesday, October 4th, MarketBeat reports.

SXI has been the topic of a number of other reports. FBR & Co reissued a “buy” rating on shares of Standex International Corporation in a report on Monday, October 2nd. Zacks Investment Research downgraded shares of Standex International Corporation from a “hold” rating to a “sell” rating in a report on Saturday, September 23rd. Finally, BidaskClub raised shares of Standex International Corporation from a “strong sell” rating to a “sell” rating in a report on Saturday, June 10th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $108.50.

Standex International Corporation (NYSE:SXI) opened at 102.95 on Wednesday. The stock has a 50 day moving average price of $101.02 and a 200 day moving average price of $94.11. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 28.23 and a beta of 1.56. Standex International Corporation has a 52-week low of $74.35 and a 52-week high of $110.00.

Standex International Corporation (NYSE:SXI) last issued its quarterly earnings results on Monday, August 28th. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.29 by $0.11. The business had revenue of $217.10 million for the quarter, compared to analyst estimates of $210.05 million. Standex International Corporation had a net margin of 6.08% and a return on equity of 14.76%. Standex International Corporation’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.31 EPS. Equities research analysts forecast that Standex International Corporation will post $5.07 earnings per share for the current year.

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In other news, Director Gerald H. Fickenscher sold 2,000 shares of the stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $94.64, for a total value of $189,280.00. Following the completion of the sale, the director now directly owns 9,915 shares in the company, valued at $938,355.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.70% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. Pinebridge Investments L.P. increased its position in shares of Standex International Corporation by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 1,680 shares of the industrial products company’s stock valued at $152,000 after acquiring an additional 17 shares during the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Standex International Corporation by 2.0% during the second quarter. UBS Asset Management Americas Inc. now owns 2,295 shares of the industrial products company’s stock valued at $208,000 after acquiring an additional 45 shares during the last quarter. Texas Permanent School Fund increased its position in shares of Standex International Corporation by 0.8% during the second quarter. Texas Permanent School Fund now owns 9,305 shares of the industrial products company’s stock valued at $844,000 after acquiring an additional 74 shares during the last quarter. Arizona State Retirement System increased its position in shares of Standex International Corporation by 1.5% during the first quarter. Arizona State Retirement System now owns 6,640 shares of the industrial products company’s stock valued at $665,000 after acquiring an additional 100 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Standex International Corporation by 3.4% during the second quarter. Municipal Employees Retirement System of Michigan now owns 3,010 shares of the industrial products company’s stock valued at $273,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 86.86% of the company’s stock.

Standex International Corporation Company Profile

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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