L.S. Starrett (NYSE:SCX) Coverage Initiated at StockNews.com

StockNews.com initiated coverage on shares of L.S. Starrett (NYSE:SCX) in a report issued on Monday morning. The brokerage issued a buy rating on the stock.

L.S. Starrett Stock Performance

Shares of SCX opened at $16.02 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.42 and a current ratio of 3.11. The company has a market capitalization of $120.31 million, a price-to-earnings ratio of 6.23 and a beta of 0.47. The company’s 50 day simple moving average is $14.17 and its 200 day simple moving average is $12.31. L.S. Starrett has a 1 year low of $8.55 and a 1 year high of $16.04.

L.S. Starrett (NYSE:SCX) last announced its quarterly earnings data on Friday, February 16th. The company reported ($0.05) earnings per share (EPS) for the quarter. The firm had revenue of $62.08 million for the quarter. L.S. Starrett had a net margin of 7.72% and a return on equity of 3.45%.

Hedge Funds Weigh In On L.S. Starrett

An institutional investor recently raised its position in L.S. Starrett stock. O Shaughnessy Asset Management LLC boosted its stake in shares of The L.S. Starrett Company (NYSE:SCX) by 40.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,154 shares of the company’s stock after purchasing an additional 7,185 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.34% of L.S. Starrett worth $270,000 at the end of the most recent reporting period. 43.40% of the stock is owned by institutional investors.

L.S. Starrett Company Profile

The L.S. Starrett Company, together with its subsidiaries, manufactures and sells industrial, professional, and consumer measuring and cutting tools, and related products in North America, Brazil, and China. The company's products include precision tools, electronic gauges, gage blocks, optical vision and laser measuring equipment, custom engineered granite solutions, tape measures, levels, chalk products, squares, band saw blades, hole saws, hacksaw blades, jig saw blades, and reciprocating saw blades, as well as M1 lubricant and precision ground flat stock products.