Reported 4 months ago
Barclays analysts have downgraded Stanley Black & Decker (SWK) shares to Equalweight from an Overweight rating, citing current trading levels as too high. The impact of US consumer trends on the hardware and tool manufacturer is discussed by Morning Brief's Madison Mills and Brad Smith. This move implies a 1% drop from the company's current market value, as sluggish sales are expected to hinder predicted rapid EPS growth. The housing market's stagnation, longer interest rates, and changes in consumer behavior have contributed to a negative impact on companies like Stanley Black & Decker, resulting in a year-to-date stock decrease of over 11%.
Source: YAHOO