DA Davidson Reiterates Buy Rating for Standex International (NYSE:SXI)

Standex International (NYSE:SXI)‘s stock had its “buy” rating reaffirmed by DA Davidson in a research report issued on Monday,Benzinga reports. They presently have a $272.00 target price on the industrial products company’s stock. DA Davidson’s target price would indicate a potential upside of 17.20% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Roth Capital boosted their target price on Standex International from $205.00 to $260.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Wall Street Zen upgraded shares of Standex International from a “hold” rating to a “buy” rating in a report on Saturday, November 15th. Weiss Ratings restated a “hold (c)” rating on shares of Standex International in a report on Wednesday, October 8th. Finally, Barrington Research reaffirmed an “outperform” rating and issued a $260.00 target price on shares of Standex International in a research report on Thursday. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, Standex International has an average rating of “Moderate Buy” and an average target price of $264.00.

Standex International Trading Up 1.2%

Shares of SXI stock traded up $2.78 during mid-day trading on Monday, reaching $232.09. The stock had a trading volume of 51,818 shares, compared to its average volume of 99,280. The firm has a market capitalization of $2.81 billion, a PE ratio of 50.07, a price-to-earnings-growth ratio of 3.07 and a beta of 1.17. The stock’s 50-day moving average price is $224.91 and its two-hundred day moving average price is $190.77. The company has a current ratio of 2.88, a quick ratio of 2.10 and a debt-to-equity ratio of 0.78. Standex International has a 52-week low of $128.85 and a 52-week high of $247.16.

Standex International (NYSE:SXI) last posted its earnings results on Friday, October 31st. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping 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 company had revenue of $217.43 million for the quarter, compared to analysts’ expectations of $215.96 million. During the same period last year, the firm earned $1.84 earnings per share. Standex International’s quarterly revenue was up 27.5% on a year-over-year basis. Equities analysts expect that Standex International will post 7.9 earnings per share for the current fiscal year.

Insider Buying and Selling at Standex International

In other Standex International news, insider Vineet Kshirsagar sold 650 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $233.37, for a total value of $151,690.50. Following the sale, the insider owned 5,047 shares in the company, valued at approximately $1,177,818.39. This represents a 11.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Ademir Sarcevic sold 1,823 shares of the firm’s stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $230.12, for a total transaction of $419,508.76. Following the transaction, the chief financial officer directly owned 9,341 shares of the company’s stock, valued at $2,149,550.92. This represents a 16.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 32,473 shares of company stock valued at $7,389,509 over the last 90 days. 2.52% of the stock is owned by corporate insiders.

Institutional Trading of Standex International

Several hedge funds and other institutional investors have recently made changes to their positions in SXI. 1ST Source Bank purchased a new stake in shares of Standex International in the second quarter worth $411,000. Champlain Investment Partners LLC boosted its stake in Standex International by 1.0% in the 1st quarter. Champlain Investment Partners LLC now owns 590,551 shares of the industrial products company’s stock worth $95,309,000 after purchasing an additional 6,121 shares in the last quarter. Invesco Ltd. grew its position in Standex International by 30.2% during the 1st quarter. Invesco Ltd. now owns 73,944 shares of the industrial products company’s stock valued at $11,934,000 after purchasing an additional 17,139 shares during the last quarter. Inspire Investing LLC grew its position in Standex International by 21.8% during the 2nd quarter. Inspire Investing LLC now owns 3,026 shares of the industrial products company’s stock valued at $474,000 after purchasing an additional 541 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Standex International during the 1st quarter valued at about $341,000. Hedge funds and other institutional investors own 90.35% of the company’s stock.

About Standex International

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.