Stanley Black & Decker, Inc. (NYSE:SWK) shares have more than 15.52 percent upside potential from the existing levels. This is based on the revised price target of Morgan Stanley at $ 191.00 on the stock. Incidentally, the brokerage raised its price objective by $ 20 from its earlier level of $ 171.00. However, Morgan Stanley has maintained its Overweight rating on the stock, Benzinga reported.
Shares of Stanley Black & Decker, Inc. traded up $ 0.95 or 0.57 percent on Wednesday, reaching $ 166.29 with volume of 451.90 thousand shares. The stock opened positive for the day at $ 165.59, after closing the previous day trading at $ 165.34. According to the previous trading day, closing price of $ 165.34, representing a 136.20 % increase from the 52 week low of $ 70.00 and a 4.8 % decrease over the 52 week high of $ 173.67.
With respect to the key metrics, Stanley Black & Decker, Inc. stock has advanced $ 35.39 or 27.00 percent, reaching $ 130.90 during the simple moving average (SMA) period of 200 days. Similarly, the stock has increased $ 9.43 or 6.00 percent, before arriving at $ 156.86 during the SMA50-day period.
Stanley Black & Decker, Inc. recently reported second quarter financial results on July 30, 2020, before market open, manufacturer of machine tools and accessories reported income for the second quarter of $ 1.60 per share, from the revenue of $ 3,147.00 million. The quarterly earnings dropped 39.85 percent while revenues dropped 16.33 percent compared with the same quarter last year. Street analysts expected Stanley Black & Decker, Inc. to report income of $ 1.23 per share on revenue of $ 3112.63 million for the second quarter. The bottom line results beat street analysts by $ 0.37 or 30.08 percent, at the same time, top line results outshined analysts by $ 34.37 million or 1.10 percent.
Moving ahead, the analysts surveyed by Thomson Reuters are predicting, Stanley Black & Decker, Inc. to report 3Q20 income of $ 2.38 per share from revenue of $ 3790.47 million. For the full year, analysts anticipate top line of $ 13854.90 million, while looking forward to income of $ 7.45 per share bottom line.
Stanley Black & Decker, Inc. engages in tools and storage, industrial, and security businesses worldwide. Its Tools & Storage segment offers power tools and equipment, including professional products, such as professional grade corded and cordless electric power tools and equipment, and pneumatic tools and fasteners; and consumer products comprising corded and cordless electric power tools primarily under the BLACK+DECKER brand, as well as lawn and garden products and related accessories, and home products.
