Standex International’s (SXI) Buy Rating Reiterated at DA Davidson

Standex International (NYSE:SXI)‘s stock had its “buy” rating reissued by DA Davidson in a research report issued on Thursday,Benzinga reports. They presently have a $350.00 price objective on the industrial products company’s stock. DA Davidson’s price objective would indicate a potential upside of 13.03% from the stock’s current price.

SXI has been the subject of several other reports. Zacks Research raised shares of Standex International from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Weiss Ratings downgraded Standex International from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, August 5th. Four research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $298.67.

Standex International Trading Down 1.0%

Shares of Standex International stock traded down $3.03 on Thursday, reaching $309.64. 14,080 shares of the company’s stock were exchanged, compared to its average volume of 176,930. The company has a market capitalization of $3.75 billion, a P/E ratio of 35.74, a price-to-earnings-growth ratio of 3.58 and a beta of 1.06. Standex International has a 52 week low of $197.00 and a 52 week high of $363.89. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.84 and a current ratio of 2.40. The firm’s 50-day moving average is $316.71 and its two-hundred day moving average is $281.65.

Standex International (NYSE:SXI) last released its quarterly earnings data on Friday, July 31st. The industrial products company reported $2.45 earnings per share for the quarter, beating the consensus estimate of $2.35 by $0.10. Standex International had a net margin of 11.73% and a return on equity of 14.47%. The company had revenue of $228.25 million during the quarter, compared to analyst estimates of $226.47 million. During the same quarter in the previous year, the business posted $2.28 EPS. Standex International’s revenue for the quarter was up 2.8% compared to the same quarter last year. Sell-side analysts predict that Standex International will post 9.96 EPS for the current fiscal year.

Hedge Funds Weigh In On Standex International

Hedge funds have recently added to or reduced their stakes in the stock. Susquehanna Fundamental Investments LLC raised its stake in shares of Standex International by 42.3% in the second quarter. Susquehanna Fundamental Investments LLC now owns 27,804 shares of the industrial products company’s stock worth $9,945,000 after purchasing an additional 8,270 shares during the last quarter. Two Sigma Securities LLC purchased a new position in shares of Standex International during the second quarter valued at approximately $817,000. Benjamin Edwards Inc. boosted its position in shares of Standex International by 3.3% during the second quarter. Benjamin Edwards Inc. now owns 4,224 shares of the industrial products company’s stock valued at $1,512,000 after buying an additional 134 shares during the last quarter. Wedbush Securities Inc. grew its holdings in Standex International by 9.8% during the second quarter. Wedbush Securities Inc. now owns 1,558 shares of the industrial products company’s stock worth $557,000 after buying an additional 139 shares in the last quarter. Finally, Greenleaf Trust bought a new stake in Standex International during the second quarter worth $231,000. Institutional investors and hedge funds own 90.35% of the company’s stock.

Standex International Company Profile

Standex International Corporation is a diversified global manufacturer specializing in food service equipment, engineered components, and industrial products. Operating across multiple markets, the company designs and produces commercial cooking and warming solutions, precision-engraved nameplates and decorative products, fluid power hydraulics, and magnetics-based electronics. These offerings serve a broad array of end markets, including quick-service restaurants, automotive, aerospace, medical devices, and consumer appliances.

With business organized into key segments—Food Service Equipment, Engraving & Decorating, Hydraulics, Industrial Electronics, and Technical Graphical Solutions—Standex delivers a combination of proprietary technology, automated manufacturing processes, and custom engineering services.