Standex International (NYSE:SXI) Upgraded at Zacks Investment Research

Standex International (NYSE:SXIGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday, Zacks.com reports. The brokerage currently has a $108.00 price target on the industrial products company’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 17.00% from the company’s previous close.

According to Zacks, “Standex International Corp. is a diversified manufacturer producing and marketing a wide variety of useful, quality products. The company enjoys a broad and well-balanced earnings base by virtue of its strong market position in selected areas of operation. (PRESS RELEASE) “

Other research analysts also recently issued research reports about the company. William Blair upgraded Standex International from a “market perform” rating to an “outperform” rating in a research note on Monday. Barrington Research upped their price objective on Standex International from $139.00 to $143.00 in a research note on Friday, May 6th. Finally, StockNews.com began coverage on Standex International in a research note on Thursday, March 31st. They issued a “strong-buy” rating for the company.

NYSE SXI traded down $0.28 on Wednesday, reaching $92.31. The company had a trading volume of 278 shares, compared to its average volume of 48,536. The stock has a market capitalization of $1.13 billion, a P/E ratio of 18.10, a P/E/G ratio of 1.15 and a beta of 1.13. The company’s fifty day moving average is $100.93 and its 200 day moving average is $105.24. Standex International has a 52-week low of $86.30 and a 52-week high of $121.44. The company has a quick ratio of 2.14, a current ratio of 2.88 and a debt-to-equity ratio of 0.38.

Standex International (NYSE:SXIGet Rating) last released its quarterly earnings results on Thursday, May 5th. The industrial products company reported $1.54 EPS for the quarter, beating analysts’ consensus estimates of $1.48 by $0.06. The business had revenue of $189.28 million during the quarter, compared to analyst estimates of $185.92 million. Standex International had a return on equity of 13.55% and a net margin of 8.54%. Standex International’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 EPS. On average, research analysts expect that Standex International will post 5.92 EPS for the current year.

Standex International declared that its board has authorized a stock repurchase program on Thursday, May 5th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the industrial products company to reacquire up to 8.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Several hedge funds have recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in Standex International by 122.3% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 390,781 shares of the industrial products company’s stock worth $43,243,000 after purchasing an additional 215,015 shares in the last quarter. Leeward Investments LLC MA purchased a new stake in Standex International during the 1st quarter worth about $16,078,000. Norges Bank purchased a new stake in Standex International during the 4th quarter worth about $13,791,000. Invesco Ltd. lifted its holdings in Standex International by 192.3% during the 3rd quarter. Invesco Ltd. now owns 128,126 shares of the industrial products company’s stock worth $12,672,000 after purchasing an additional 84,291 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in Standex International by 658.7% during the 3rd quarter. Millennium Management LLC now owns 81,151 shares of the industrial products company’s stock worth $8,027,000 after purchasing an additional 70,455 shares in the last quarter. Institutional investors own 88.39% of the company’s stock.

About Standex International (Get Rating)

Standex International Corporation, together with subsidiaries, manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The company operates through five segments: Electronics, Engraving, Scientific, Engineering Technologies, and Specialty Solutions.

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