In a report released today, Christopher Howe from Barrington reiterated a Buy rating on Standex International (SXI – Research Report), with a price target of $94.00. The company’s shares closed last Thursday at $76.82, close to its 52-week high of $81.69.
According to TipRanks.com, Howe is a 5-star analyst with an average return of 34.3% and a 70.8% success rate. Howe covers the Industrial Goods sector, focusing on stocks such as Commercial Vehicle Group, Columbus Mckinnon, and Hillenbrand.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Standex International with a $94.00 average price target.
Based on Standex International’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $151 million and net profit of $9.72 million. In comparison, last year the company earned revenue of $156 million and had a net profit of $12.44 million.
Based on the recent corporate insider activity of 29 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 SXI in relation to earlier this year. Most recently, in October 2020, Daniel Hogan, a Director at SXI bought 2,650 shares for a total of $141,475.
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Standex International Corp. manufactures products and services for commercial and industrial markets. It operates through the following segments: Food Service Equipment, Engraving, Engineering Technologies, Electronics and Hydraulics. The Food Service Equipment segment is engaged in the provision of refrigeration, display merchandising and component pumps for the commercial food service and life sciences markets. The Engraving segment creates textures and surface finishes on tooling to enhance the beauty and function of a wide range of consumer goods and automotive products. The Engineering Technologies segment offers net and near net formed single-source customized solutions in the manufacture of engineered components for the aviation, aerospace, defence, energy, industrial, medical, marine, oil and gas, and manned and unmanned space markets. The Electronics segment relates to the manufacture and sale of electronic components for applications throughout the end-user market spectrum. The Hydraulics segment pertains to manufacturing and selling of single and double-acting telescopic and piston rod hydraulic cylinders. The company was founded by John Bolten in 1955 and is headquartered in Salem, NH.