Stanley Black & Decker (NYSE:SWK) Shares Gap Down – Here’s What Happened

Stanley Black & Decker, Inc. (NYSE:SWK)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $86.66, but opened at $83.00. Stanley Black & Decker shares last traded at $82.66, with a volume of 299,071 shares.

Wall Street Analyst Weigh In

A number of analysts have commented on SWK shares. The Goldman Sachs Group raised their price objective on Stanley Black & Decker from $94.00 to $107.00 and gave the stock a “neutral” rating in a research report on Thursday, October 10th. Mizuho upgraded shares of Stanley Black & Decker from a “neutral” rating to an “outperform” rating and set a $110.00 target price on the stock in a research report on Thursday, December 19th. Morgan Stanley lowered their price target on shares of Stanley Black & Decker from $107.00 to $98.00 and set an “equal weight” rating for the company in a report on Wednesday, October 30th. StockNews.com lowered Stanley Black & Decker from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird dropped their target price on Stanley Black & Decker from $104.00 to $102.00 and set a “neutral” rating for the company in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Stanley Black & Decker has an average rating of “Hold” and an average target price of $103.11.

Stanley Black & Decker Stock Up 0.1 %

The firm has a market cap of $13.21 billion, a P/E ratio of -62.61, a P/E/G ratio of 1.90 and a beta of 1.24. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.42 and a current ratio of 1.29. The firm’s fifty day moving average is $83.97 and its 200 day moving average is $93.47.

Stanley Black & Decker (NYSE:SWK) last posted its quarterly earnings results on Wednesday, February 5th. The industrial products company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.21. Stanley Black & Decker had a positive return on equity of 6.44% and a negative net margin of 1.33%. As a group, equities research analysts anticipate that Stanley Black & Decker, Inc. will post 4.14 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Stanley Black & Decker

A number of hedge funds and other institutional investors have recently made changes to their positions in SWK. State Street Corp lifted its position in shares of Stanley Black & Decker by 6.5% during the 3rd quarter. State Street Corp now owns 9,062,992 shares of the industrial products company’s stock valued at $998,107,000 after acquiring an additional 549,531 shares during the period. Geode Capital Management LLC lifted its position in shares of Stanley Black & Decker by 1.0% during the third quarter. Geode Capital Management LLC now owns 3,579,852 shares of the industrial products company’s stock valued at $392,882,000 after purchasing an additional 35,100 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Stanley Black & Decker by 8.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,968,855 shares of the industrial products company’s stock worth $326,960,000 after buying an additional 235,106 shares in the last quarter. Clean Energy Transition LLP increased its position in shares of Stanley Black & Decker by 49.0% during the third quarter. Clean Energy Transition LLP now owns 1,984,184 shares of the industrial products company’s stock valued at $218,518,000 after acquiring an additional 652,780 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Stanley Black & Decker by 7.3% in the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,594,895 shares of the industrial products company’s stock worth $128,054,000 after buying an additional 109,100 shares during the last quarter. 87.77% of the stock is owned by institutional investors and hedge funds.

About Stanley Black & Decker

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 Storage segment, and Industrial segment.