Standex International (NYSE:SXI) Cut to Hold at StockNews.com

Standex International (NYSE:SXI) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

SXI has been the subject of several other reports. DA Davidson raised their price target on Standex International from $203.00 to $211.00 and gave the company a “buy” rating in a report on Monday. Benchmark reaffirmed a “buy” rating and set a $210.00 price target on shares of Standex International in a research note on Friday. Finally, Barrington Research reiterated an “outperform” rating and issued a $180.00 price objective on shares of Standex International in a research note on Tuesday, May 28th.

Standex International Stock Down 0.9 %

Shares of NYSE:SXI traded down $1.58 during trading on Tuesday, hitting $169.85. The company’s stock had a trading volume of 49,754 shares, compared to its average volume of 62,973. The company has a market capitalization of $1.99 billion, a PE ratio of 27.48, a P/E/G ratio of 2.53 and a beta of 1.04. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.65 and a current ratio of 3.43. Standex International has a fifty-two week low of $130.04 and a fifty-two week high of $191.18. The business has a 50 day moving average price of $169.37 and a two-hundred day moving average price of $169.05.

Standex International (NYSE:SXI) last announced its quarterly earnings results on Thursday, August 1st. The industrial products company reported $1.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.04. The company had revenue of $180.19 million during the quarter, compared to the consensus estimate of $181.35 million. Standex International had a return on equity of 13.65% and a net margin of 10.14%. Standex International’s revenue for the quarter was down 4.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.76 EPS. As a group, research analysts expect that Standex International will post 7.84 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Charles H. Cannon, Jr. sold 2,460 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $178.02, for a total value of $437,929.20. Following the completion of the transaction, the director now owns 862 shares of the company’s stock, valued at approximately $153,453.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.28% of the stock is owned by insiders.

Institutional Trading of Standex International

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Trust N.A. boosted its holdings in Standex International by 1.9% during the second quarter. Raymond James Trust N.A. now owns 4,393 shares of the industrial products company’s stock valued at $708,000 after purchasing an additional 82 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Standex International by 1.7% during the second quarter. Louisiana State Employees Retirement System now owns 6,000 shares of the industrial products company’s stock worth $967,000 after buying an additional 100 shares during the last quarter. Fifth Third Bancorp lifted its stake in shares of Standex International by 95.5% in the 2nd quarter. Fifth Third Bancorp now owns 733 shares of the industrial products company’s stock valued at $118,000 after purchasing an additional 358 shares during the period. Leeward Investments LLC MA lifted its stake in Standex International by 5.6% in the second quarter. Leeward Investments LLC MA now owns 132,054 shares of the industrial products company’s stock valued at $21,281,000 after buying an additional 7,020 shares during the period. Finally, Raymond James & Associates increased its stake in Standex International by 5.2% in the second quarter. Raymond James & Associates now owns 35,622 shares of the industrial products company’s stock valued at $5,740,000 after purchasing an additional 1,764 shares in the last quarter. Institutional investors own 90.35% of the company’s stock.

About Standex International

Standex International Corporation, together with subsidiaries, manufactures and sells 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.