Standex Int’l (NYSE:SXI) Raised to Buy at Zacks Investment Research

Standex Int’l (NYSE:SXI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, Zacks.com reports. The firm currently has a $66.00 price target on the industrial products company’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.90% from the company’s current price.

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) “

Several other analysts also recently issued reports on SXI. Barrington Research reiterated a “buy” rating and set a $77.00 price target on shares of Standex Int’l in a research note on Monday, July 20th. Sidoti upped their price target on Standex Int’l from $62.00 to $75.00 and gave the stock a “buy” rating in a research note on Wednesday, June 10th. Finally, CJS Securities upgraded Standex Int’l from a “market perform” rating to an “outperform” rating and set a $74.00 price target for the company in a research note on Wednesday, August 26th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $73.00.

SXI stock traded up $0.31 during mid-day trading on Wednesday, hitting $58.98. The stock had a trading volume of 70,712 shares, compared to its average volume of 64,135. The company has a current ratio of 2.70, a quick ratio of 2.01 and a debt-to-equity ratio of 0.43. Standex Int’l has a 1-year low of $37.50 and a 1-year high of $81.69. The company has a fifty day moving average of $57.93 and a 200 day moving average of $53.21. The stock has a market capitalization of $726.46 million, a price-to-earnings ratio of 36.18, a PEG ratio of 1.14 and a beta of 1.45.

Standex Int’l (NYSE:SXI) last issued its earnings results on Monday, August 24th. The industrial products company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.18. Standex Int’l had a return on equity of 9.44% and a net margin of 2.96%. The company had revenue of $139.40 million for the quarter, compared to analyst estimates of $140.23 million. During the same period in the prior year, the firm posted $1.16 EPS. The business’s revenue was down 33.3% compared to the same quarter last year. As a group, sell-side analysts expect that Standex Int’l will post 3.68 earnings per share for the current fiscal year.

In related news, CFO Ademir Sarcevic sold 1,200 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $58.60, for a total transaction of $70,320.00. Following the completion of the sale, the chief financial officer now owns 16,348 shares in the company, valued at approximately $957,992.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.81% of the stock is owned by corporate insiders.

Hedge funds have recently made changes to their positions in the business. AJO LP bought a new stake in shares of Standex Int’l in the 2nd quarter worth approximately $36,000. FinTrust Capital Advisors LLC acquired a new position in shares of Standex Int’l in the 2nd quarter worth approximately $54,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Standex Int’l by 33.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,016 shares of the industrial products company’s stock worth $50,000 after buying an additional 255 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of Standex Int’l in the 1st quarter worth approximately $145,000. Finally, Cresset Asset Management LLC acquired a new position in shares of Standex Int’l in the 2nd quarter worth approximately $207,000. Institutional investors own 88.64% of the company’s stock.

About Standex Int’l

Standex International Corporation manufactures and sells various products and services for commercial and industrial markets in the United States and internationally. The Food Service Equipment segment offers refrigerated cabinets, cases, display units, walk-in coolers, and freezers; commercial ovens, char broilers, ranges, griddles, toasters, warmers, roller grills, and countertop merchandisers; commercial cook and hold units, rotisseries, pressure fryers, and baking equipment; commercial deep fryers; merchandizing display cases; pump systems; and cold storage equipment.

Further Reading: Marijuana Stocks Investing Considerations

Get a free copy of the Zacks research report on Standex Int’l (SXI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Standex Int'l Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Standex Int'l and related companies with MarketBeat.com's FREE daily email newsletter.