Standex International (NYSE:SXI) Price Target Raised to $323.00 at DA Davidson

Standex International (NYSE:SXI) had its target price upped by investment analysts at DA Davidson from $298.00 to $323.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “buy” rating on the industrial products company’s stock. DA Davidson’s target price would indicate a potential upside of 15.80% from the company’s previous close.

A number of other equities analysts have also commented on the stock. Wall Street Zen lowered shares of Standex International from a “buy” rating to a “hold” rating in a report on Sunday, February 1st. Barrington Research reissued an “outperform” rating and issued a $260.00 price target on shares of Standex International in a report on Monday, March 9th. Roth Mkm raised their price target on shares of Standex International from $260.00 to $286.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Standex International in a research note on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Standex International has an average rating of “Moderate Buy” and a consensus price target of $289.67.

Standex International Stock Up 0.2%

Shares of NYSE SXI traded up $0.52 during mid-day trading on Monday, reaching $278.92. 194,657 shares of the company’s stock traded hands, compared to its average volume of 168,091. Standex International has a 1-year low of $128.85 and a 1-year high of $283.00. The stock has a market cap of $3.38 billion, a P/E ratio of 62.54, a PEG ratio of 3.53 and a beta of 1.11. The business has a 50-day simple moving average of $259.23 and a 200 day simple moving average of $243.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.87 and a quick ratio of 2.10.

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

Insider Activity at Standex International

In other news, Director Thomas E. Chorman sold 513 shares of the firm’s stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $260.00, for a total value of $133,380.00. Following the sale, the director directly owned 12,666 shares in the company, valued at approximately $3,293,160. This trade represents a 3.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David A. Dunbar sold 15,000 shares of Standex International stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $255.94, for a total transaction of $3,839,100.00. Following the completion of the sale, the chief executive officer owned 88,973 shares of the company’s stock, valued at $22,771,749.62. This trade represents a 14.43% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 16,063 shares of company stock worth $4,114,860. 2.52% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Standex International

Institutional investors have recently added to or reduced their stakes in the stock. Synovus Financial Corp acquired a new stake in Standex International during the 3rd quarter worth $1,177,000. Anchor Capital Management Company LLC boosted its position in shares of Standex International by 43.9% during the 3rd quarter. Anchor Capital Management Company LLC now owns 98,394 shares of the industrial products company’s stock valued at $20,850,000 after acquiring an additional 29,998 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Standex International by 1.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 245,244 shares of the industrial products company’s stock valued at $51,778,000 after acquiring an additional 4,621 shares during the last quarter. Kennedy Capital Management LLC purchased a new stake in Standex International in the 3rd quarter valued at about $17,766,000. Finally, Segall Bryant & Hamill LLC purchased a new stake in Standex International in the 3rd quarter valued at about $19,763,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

About Standex International

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.