Research analysts at JPMorgan Chase & Co. initiated coverage on shares of Standex International (NYSE:SXI – Get Free Report) in a note issued to investors on Wednesday, Benzinga reports. The firm set a “neutral” rating and a $320.00 price target on the industrial products company’s stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 13.16% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. Weiss Ratings cut Standex International from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, September 18th. DA Davidson reaffirmed a “buy” rating and issued a $350.00 price target on shares of Standex International in a report on Thursday, August 20th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $304.00.
Check Out Our Latest Research Report on Standex International
Standex International Trading Up 0.6%
Standex International (NYSE:SXI – Get Free Report) last issued its quarterly earnings data on Friday, July 31st. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.35 by $0.10. Standex International had a return on equity of 14.47% and a net margin of 11.73%. The company had revenue of $228.25 million for the quarter, compared to the consensus estimate of $226.47 million. During the same quarter last year, the business posted $2.28 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. Equities research analysts forecast that Standex International will post 9.96 earnings per share for the current fiscal year.
Insider Buying and Selling at Standex International
In other news, CEO David Dunbar sold 13,000 shares of Standex International stock in a transaction on Monday, August 31st. The shares were sold at an average price of $290.82, for a total transaction of $3,780,660.00. Following the completion of the sale, the chief executive officer directly owned 75,973 shares of the company’s stock, valued at approximately $22,094,467.86. The trade was a 14.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 13,100 shares of company stock worth $3,810,182. Company insiders own 2.00% of the company’s stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. California State Teachers Retirement System lifted its stake in Standex International by 26.5% during the first quarter. California State Teachers Retirement System now owns 14,604 shares of the industrial products company’s stock worth $3,722,000 after purchasing an additional 3,059 shares during the last quarter. Jupiter Topco LLC purchased a new position in shares of Standex International in the 2nd quarter worth about $2,033,000. The Manufacturers Life Insurance Company purchased a new position in shares of Standex International in the 2nd quarter worth about $2,136,000. Castleark Management LLC purchased a new position in shares of Standex International in the 2nd quarter worth about $5,175,000. Finally, Sei Investments Co. boosted its holdings in shares of Standex International by 4.5% in the 1st quarter. Sei Investments Co. now owns 105,064 shares of the industrial products company’s stock worth $26,774,000 after purchasing an additional 4,520 shares in the last quarter. 90.35% of the stock is currently owned by hedge funds and other institutional investors.
About Standex International
Standex International Corporation (NYSE: SXI) is a diversified manufacturing company headquartered in Salem, New Hampshire. Founded in 1955, the company designs and produces specialized industrial and commercial products for customers in a range of global markets.
Standex’s businesses include electronic components and systems such as sensors, reed switches, magnetic components, fluid-level controls and high-voltage products. The company also provides precision engraving and texturing technologies used in tooling, packaging, printing and other manufacturing applications, as well as engineered hydraulic and industrial products.
Standex serves customers internationally through manufacturing and operating locations in North America, Europe and Asia.
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