UBS Maintains a 'Buy' on Stanley Black & Decker (SWK); Announces Fastening Acquistion
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Price: $81.23 -0.75%
Rating Summary:
6 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Rating Summary:
6 Buy, 8 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 13 | Down: 28 | New: 14
Trade SWK Now!
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, with a 52 week range of $47.07-$81.90.
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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, with a 52 week range of $47.07-$81.90.
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