UBS Maintains a 'Buy' on Stanley Black & Decker (SWK); Announces Fastening Acquistion
Tweet
Share
E-mailGet Alerts SWK Hot Sheet
Price: $88.83 -1.6%
Rating Summary:
14 Buy, 15 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Rating Summary:
14 Buy, 15 Hold, 3 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 11 | Down: 12 | New: 13
Join SI Premium – FREE
UBS maintains a 'Buy' on Stanley Black & Decker (NYSE: SWK) price target of $74.00.
SWK has entered into a definitive agreement to acquire Infastech, a global manufacturer and distributor of specialty engineered fastening technologies headquartered in Hong Kong, from CVC Capital Partners and Standard Chartered Private Equity Limited for USD$850 million in cash.
Stanley Black & Decker expects the transaction to result in annual cost savings of approximately USD$25 million by year three. The acquisition is also expected to be immediately accretive to Stanley Black & Decker’s earnings per share (EPS), with accretion of USD$0.15 per share in the first year following the closing of the transaction and USD$0.35 per share in the third year following closing, excluding acquisition-related charges of $25 - $30 million which will largely be incurred in the first two years.
For an analyst ratings summary and ratings history on Stanley Black & Decker click here. For more ratings news on Stanley Black & Decker click here.
Shares of Stanley Black & Decker closed at $64.99 yesterday.
SWK has entered into a definitive agreement to acquire Infastech, a global manufacturer and distributor of specialty engineered fastening technologies headquartered in Hong Kong, from CVC Capital Partners and Standard Chartered Private Equity Limited for USD$850 million in cash.
Stanley Black & Decker expects the transaction to result in annual cost savings of approximately USD$25 million by year three. The acquisition is also expected to be immediately accretive to Stanley Black & Decker’s earnings per share (EPS), with accretion of USD$0.15 per share in the first year following the closing of the transaction and USD$0.35 per share in the third year following closing, excluding acquisition-related charges of $25 - $30 million which will largely be incurred in the first two years.
For an analyst ratings summary and ratings history on Stanley Black & Decker click here. For more ratings news on Stanley Black & Decker click here.
Shares of Stanley Black & Decker closed at $64.99 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Gilead Sciences (GILD) Misses Q1 EPS by 288c
- MidWestOne Financial Group, Inc. (MOFG) Misses Q1 EPS by 15c
- Utah Medical Products (UTMD) Reports Q1 EPS of $1.10
Create E-mail Alert Related Categories
Analyst Comments, Mergers and AcquisitionsRelated Entities
UBS, CVC Capital Partners, EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
