Zacks Investment Research Upgrades Standex Int’l (SXI) to Hold

Standex Int’l (NYSE:SXI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Tuesday, Zacks.com reports.

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) “

Separately, William Blair reiterated a “market perform” rating on shares of Standex Int’l in a research report on Tuesday, December 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Standex Int’l has a consensus rating of “Hold” and an average price target of $106.50.

SXI stock traded down $0.49 during trading on Tuesday, hitting $74.05. 634 shares of the company traded hands, compared to its average volume of 58,788. The company has a current ratio of 2.76, a quick ratio of 2.00 and a debt-to-equity ratio of 0.69. The stock has a market cap of $928.74 million, a P/E ratio of 14.30 and a beta of 1.69. Standex Int’l has a 1 year low of $62.02 and a 1 year high of $114.20.

Standex Int’l (NYSE:SXI) last announced its quarterly earnings results on Wednesday, January 30th. The industrial products company reported $0.98 earnings per share for the quarter, missing the consensus estimate of $1.21 by ($0.23). The company had revenue of $195.50 million for the quarter, compared to analysts’ expectations of $197.38 million. Standex Int’l had a net margin of 6.56% and a return on equity of 13.88%. The firm’s revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.12 earnings per share. On average, research analysts predict that Standex Int’l will post 5.05 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the company. Advisor Group Inc. raised its holdings in shares of Standex Int’l by 32.5% in the 4th quarter. Advisor Group Inc. now owns 689 shares of the industrial products company’s stock valued at $46,000 after buying an additional 169 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Standex Int’l by 40.3% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,456 shares of the industrial products company’s stock worth $97,000 after purchasing an additional 418 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Standex Int’l by 4.3% during the fourth quarter. Advisors Asset Management Inc. now owns 3,364 shares of the industrial products company’s stock worth $226,000 after purchasing an additional 139 shares during the last quarter. Ramsey Quantitative Systems boosted its holdings in shares of Standex Int’l by 9.8% during the fourth quarter. Ramsey Quantitative Systems now owns 3,510 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 313 shares during the last quarter. Finally, First Manhattan Co. boosted its holdings in shares of Standex Int’l by 138.3% during the fourth quarter. First Manhattan Co. now owns 3,575 shares of the industrial products company’s stock worth $240,000 after purchasing an additional 2,075 shares during the last quarter. Institutional investors and hedge funds own 88.77% 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.

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