Stanley Black & Decker (NYSE:SWK) Upgraded to Buy by Bank of America

Bank of America upgraded shares of Stanley Black & Decker (NYSE:SWK) from an underperform rating to a buy rating in a research report sent to investors on Thursday morning, Briefing.com Automated Import reports. They currently have $182.00 price objective on the industrial products company’s stock. The analysts noted that the move was a valuation call.

Other research analysts have also recently issued reports about the stock. KeyCorp raised shares of Stanley Black & Decker from a sector weight rating to an overweight rating and set a $160.00 target price for the company in a report on Wednesday, September 18th. Zelman & Associates cut shares of Stanley Black & Decker from a buy rating to a hold rating in a report on Friday, October 25th. ValuEngine upgraded shares of Stanley Black & Decker from a sell rating to a hold rating in a research note on Friday, November 1st. Barclays reduced their price target on shares of Stanley Black & Decker from $163.00 to $161.00 and set an overweight rating for the company in a research note on Friday, October 25th. Finally, Wells Fargo & Co reiterated a buy rating on shares of Stanley Black & Decker in a research note on Tuesday, October 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $160.73.

Stanley Black & Decker stock traded up $1.52 during trading hours on Thursday, hitting $157.63. The stock had a trading volume of 975,445 shares, compared to its average volume of 1,087,615. The company has a quick ratio of 0.47, a current ratio of 0.98 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $23.62 billion, a P/E ratio of 19.34, a price-to-earnings-growth ratio of 2.06 and a beta of 1.40. Stanley Black & Decker has a 12-month low of $110.54 and a 12-month high of $162.15. The stock’s 50-day moving average price is $149.18 and its 200-day moving average price is $142.57.

Stanley Black & Decker (NYSE:SWK) last issued its earnings results on Thursday, October 24th. The industrial products company reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.03 by $0.10. The business had revenue of $3.63 billion during the quarter, compared to analysts’ expectations of $3.65 billion. Stanley Black & Decker had a net margin of 4.80% and a return on equity of 17.10%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $2.08 earnings per share. On average, research analysts expect that Stanley Black & Decker will post 8.4 EPS for the current fiscal year.

Stanley Black & Decker announced that its Board of Directors has approved a share repurchase program on Thursday, October 24th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the industrial products company to repurchase up to 0.9% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s leadership believes its stock is undervalued.

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The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 17th. Stockholders of record on Friday, November 29th will be paid a $0.69 dividend. The ex-dividend date is Wednesday, November 27th. This represents a $2.76 dividend on an annualized basis and a dividend yield of 1.75%. Stanley Black & Decker’s dividend payout ratio is presently 33.87%.

In related news, CFO Donald Allan sold 2,912 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $155.48, for a total transaction of $452,757.76. Following the completion of the sale, the chief financial officer now directly owns 127,403 shares in the company, valued at $19,808,618.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider (Phil) Lockyer Phillip bought 130,434 shares of the business’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were acquired at an average price of $0.23 per share, with a total value of $29,999.82. Insiders sold 44,073 shares of company stock valued at $7,042,612 over the last quarter. Company insiders own 1.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. MUFG Americas Holdings Corp grew its position in Stanley Black & Decker by 395.8% during the third quarter. MUFG Americas Holdings Corp now owns 23,800 shares of the industrial products company’s stock valued at $3,437,000 after buying an additional 19,000 shares during the period. Smith Shellnut Wilson LLC ADV grew its position in Stanley Black & Decker by 8.5% during the third quarter. Smith Shellnut Wilson LLC ADV now owns 2,348 shares of the industrial products company’s stock valued at $339,000 after buying an additional 183 shares during the period. Goelzer Investment Management Inc. boosted its position in shares of Stanley Black & Decker by 1.0% in the third quarter. Goelzer Investment Management Inc. now owns 37,782 shares of the industrial products company’s stock worth $5,456,000 after purchasing an additional 376 shares during the period. Corient Capital Partners LLC bought a new position in shares of Stanley Black & Decker in the third quarter worth approximately $278,000. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Stanley Black & Decker in the third quarter worth approximately $71,000. Institutional investors own 85.67% of the company’s stock.

About Stanley Black & Decker

Stanley Black & Decker, Inc engages in tools and storage, industrial, and security businesses worldwide. Its Tools & Storage segment offers power tools and equipment, including professional products, such as professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products comprising corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as lawn and garden products and related accessories, and home products.

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Analyst Recommendations for Stanley Black & Decker (NYSE:SWK)

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