Zacks Investment Research Downgrades Standex International (SXI) to Hold

Standex International (NYSE:SXI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

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) “

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Other equities research analysts have also recently issued research reports about the company. B. Riley restated a “buy” rating and set a $125.00 price objective on shares of Standex International in a report on Wednesday, January 31st. CL King initiated coverage on shares of Standex International in a research report on Wednesday, November 29th. They issued a “buy” rating and a $116.00 price target for the company. ValuEngine upgraded shares of Standex International from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Finally, TheStreet downgraded shares of Standex International from a “b-” rating to a “c+” rating in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Standex International presently has an average rating of “Hold” and a consensus target price of $117.75.

Shares of Standex International stock opened at $96.35 on Thursday. Standex International has a 1-year low of $84.30 and a 1-year high of $110.00. The stock has a market capitalization of $1,316.31, a P/E ratio of 37.20 and a beta of 1.55. The company has a current ratio of 2.34, a quick ratio of 1.54 and a debt-to-equity ratio of 0.51.

Standex International (NYSE:SXI) last issued its quarterly earnings data on Tuesday, January 30th. The industrial products company reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.09. Standex International had a return on equity of 14.98% and a net margin of 3.99%. The company had revenue of $209.75 million during the quarter, compared to analysts’ expectations of $197.38 million. During the same quarter in the previous year, the company posted $1.03 earnings per share. The business’s revenue was up 20.6% on a year-over-year basis. equities research analysts expect that Standex International will post 5.28 EPS for the current year.

In other news, Director Charles H. Cannon, Jr. sold 5,014 shares of Standex International stock in a transaction that occurred on Wednesday, March 7th. The shares were sold at an average price of $98.75, for a total value of $495,132.50. Following the completion of the sale, the director now directly owns 21,360 shares in the company, valued at $2,109,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.70% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Standex International by 2.3% in the fourth quarter. BlackRock Inc. now owns 1,571,867 shares of the industrial products company’s stock valued at $160,096,000 after buying an additional 35,728 shares in the last quarter. Wedge Capital Management L L P NC raised its position in Standex International by 5.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 418,429 shares of the industrial products company’s stock valued at $42,617,000 after purchasing an additional 20,261 shares in the last quarter. Janus Henderson Group PLC raised its position in Standex International by 14.5% during the third quarter. Janus Henderson Group PLC now owns 330,831 shares of the industrial products company’s stock valued at $35,134,000 after purchasing an additional 42,009 shares in the last quarter. Millennium Management LLC raised its position in Standex International by 4,322.9% during the fourth quarter. Millennium Management LLC now owns 180,011 shares of the industrial products company’s stock valued at $18,334,000 after purchasing an additional 175,941 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in Standex International by 1.2% during the fourth quarter. Bank of New York Mellon Corp now owns 178,522 shares of the industrial products company’s stock valued at $18,183,000 after purchasing an additional 2,032 shares in the last quarter. Institutional investors own 87.91% of the company’s stock.

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Standex International Company Profile

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

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