B.Riley FBR analyst Liam Burke reiterated a Buy rating on Stanley Black & Decker Inc (NYSE: SWK) yesterday. The company’s shares opened today at $145.37.
Burke commented:
“Decker hosted an analyst day to discuss the relaunch of the Craftsman product line and highlight its potential contribution to the company’s long-term growth objective of 4% to 6% and the company’s aspirational revenue goal of $22 billion by 2022. Craftsman wil play a role in the company’s overall growth strategy, which should be driven by not only Craftsman but the further penetration of FlexVolt, the additional penetration of emerging markets, growth of the e-commerce platform in both emerging and developed markets, and revenue synergies derived from the acquired Newell brands of Lennox and Irwin.”
According to TipRanks.com, Burke is a 3-star analyst with an average return of 3.9% and a 64.1% success rate. Burke covers the Industrial Goods sector, focusing on stocks such as Standex International Corp, Westinghouse Air, and Nordson Corp.
Stanley Black & Decker Inc has an analyst consensus of Strong Buy, with a price target consensus of $181.14.
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The company has a one-year high of $176.62 and a one-year low of $136.33. Currently, Stanley Black & Decker Inc has an average volume of 1.29M.
Based on the recent corporate insider activity of 42 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SWK in relation to earlier this year.
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Stanley Black & Decker, Inc. engages in the provision of power and hand tools, products and services for various infrastructure applications, mechanical access, and healthcare solutions. It also manufactures and markets commercial electronic security and monitoring systems.
