Standex International (NYSE:SXI) Downgraded to Hold Rating by Wall Street Zen

Standex International (NYSE:SXI) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

A number of other research analysts have also issued reports on the company. Barrington Research restated an “outperform” rating and set a $260.00 price objective on shares of Standex International in a research report on Thursday, November 20th. DA Davidson reiterated a “buy” rating and issued a $272.00 target price on shares of Standex International in a research note on Monday, November 24th. Roth Capital upped their price target on shares of Standex International from $205.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Standex International in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $264.00.

Standex International Trading Up 0.8%

NYSE SXI opened at $245.16 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 2.10 and a current ratio of 2.88. Standex International has a one year low of $128.85 and a one year high of $247.16. The company has a 50-day simple moving average of $228.24 and a 200-day simple moving average of $193.30. The firm has a market capitalization of $2.97 billion, a PE ratio of 52.84, a price-to-earnings-growth ratio of 3.07 and a beta of 1.17.

Standex International (NYSE:SXI) last issued its earnings results on Friday, October 31st. The industrial products company reported $1.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.94 by $0.05. Standex International had a net margin of 7.06% and a return on equity of 13.92%. The firm had revenue of $217.43 million for the quarter, compared to analysts’ expectations of $215.96 million. During the same quarter last year, the company posted $1.84 earnings per share. Standex International’s revenue was up 27.5% on a year-over-year basis. On average, equities analysts forecast that Standex International will post 7.9 earnings per share for the current year.

Insider Activity at Standex International

In other news, CFO Ademir Sarcevic sold 1,823 shares of the stock in a transaction that occurred on Tuesday, November 4th. The shares were sold at an average price of $230.12, for a total value of $419,508.76. Following the completion of the transaction, the chief financial officer directly owned 9,341 shares in the company, valued at $2,149,550.92. This trade represents a 16.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Thomas E. Chorman sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $223.31, for a total transaction of $223,310.00. Following the transaction, the director owned 13,229 shares in the company, valued at $2,954,167.99. This represents a 7.03% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 32,473 shares of company stock worth $7,389,509. 2.52% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Standex International

Hedge funds have recently modified their holdings of the company. Wasatch Advisors LP raised its stake in shares of Standex International by 62.4% in the 2nd quarter. Wasatch Advisors LP now owns 866,830 shares of the industrial products company’s stock worth $135,642,000 after buying an additional 332,941 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in Standex International by 636.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 240,623 shares of the industrial products company’s stock worth $38,796,000 after acquiring an additional 207,961 shares in the last quarter. Voya Investment Management LLC raised its position in Standex International by 1,619.8% in the first quarter. Voya Investment Management LLC now owns 130,860 shares of the industrial products company’s stock worth $21,119,000 after acquiring an additional 123,251 shares in the last quarter. Segall Bryant & Hamill LLC acquired a new stake in Standex International in the 3rd quarter valued at about $19,763,000. Finally, Kennedy Capital Management LLC bought a new position in shares of Standex International during the 3rd quarter valued at about $17,766,000. 90.35% of the stock is currently owned by institutional investors and hedge funds.

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.