After Forming Bearish Ascending Triangle Pattern, Is Standex International Corporation (SXI)’s Near-Term Analysis Negative?

August 18, 2018 - By Jason Dias

Investors sentiment is 1.67 in Q1 2018. Its the same as in 2017Q4. It has no change, as 11 investors sold Standex International Corporation shares while 34 reduced holdings. only 21 funds opened positions while 54 raised stakes. 10.11 million shares or 0.46% more from 10.06 million shares in 2017Q4 were reported.
Choate Inv Advisors owns 49,001 shares. The Nebraska-based Ameritas Investment has invested 0.01% in Standex International Corporation (NYSE:SXI). Manufacturers Life Insurance The owns 0% invested in Standex International Corporation (NYSE:SXI) for 9,476 shares. Bnp Paribas Arbitrage Sa reported 4,100 shares stake. State Street stated it has 327,158 shares. Huntington Comml Bank owns 1,125 shares. Advsr Asset Mngmt holds 3,240 shares. Blackrock has 1.68 million shares for 0.01% of their portfolio. Wedge L Ltd Partnership Nc holds 404,678 shares or 0.37% of its portfolio. Barclays Public Limited Company holds 0% or 4,804 shares. First Manhattan Communication has 1,500 shares. Ny State Common Retirement Fund owns 14,300 shares. Amer Intll Inc has invested 0% in Standex International Corporation (NYSE:SXI). Renaissance Tech Ltd Com invested 0% of its portfolio in Standex International Corporation (NYSE:SXI). Tiaa Cref Invest Mgmt Limited Liability Corporation reported 0% of its portfolio in Standex International Corporation (NYSE:SXI).

Since March 7, 2018, it had 0 buys, and 4 insider sales for $1.19 million activity. 2,000 shares were sold by FICKENSCHER GERALD H, worth $203,300. The insider Dunbar David A. sold $405,702. CANNON CHARLES H JR sold $495,141 worth of stock or 5,014 shares.

The stock of Standex International Corporation (SXI) formed an ascending triangle with $100.86 target or 7.00 % below today’s $108.45 share price. The 5 months triangle pattern indicates high risk for the $1.39 billion company. If the $100.86 price target is reached, the company will be worth $97.44 million less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

The stock increased 0.60% or $0.65 during the last trading session, reaching $108.45. About 72,903 shares traded or 115.60% up from the average. Standex International Corporation (NYSE:SXI) has risen 15.60% since August 18, 2017 and is uptrending. It has outperformed by 3.03% the S&P500.

Analysts await Standex International Corporation (NYSE:SXI) to report earnings on August, 27. They expect $1.59 earnings per share, up 13.57 % or $0.19 from last year’s $1.4 per share. SXI’s profit will be $20.41M for 17.05 P/E if the $1.59 EPS becomes a reality. After $1.11 actual earnings per share reported by Standex International Corporation for the previous quarter, Wall Street now forecasts 43.24 % EPS growth.

Standex International Corporation (NYSE:SXI) Ratings Coverage

Among 3 analysts covering Standex International Corp (NYSE:SXI), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Standex International Corp had 3 analyst reports since April 2, 2018 according to SRatingsIntel. The rating was initiated by William Blair on Monday, April 9 with “Hold”. The stock has “Buy” rating by Sidoti on Monday, April 2. FBR Capital maintained Standex International Corporation (NYSE:SXI) on Monday, May 21 with “Buy” rating.

Standex International Corporation manufactures and sells various services and products for commercial and industrial markets in the United States and internationally. The company has market cap of $1.39 billion. The company??s Food Service Equipment segment offers refrigerated cabinets, cases, display units, coolers and freezers, ovens, char broilers, ranges, griddles, toasters, warmers, roller grills, countertop merchandisers, cook and hold units, rotisseries, pressure fryers, deep fryers, baking equipment, pump systems, and display cases. It has a 36.28 P/E ratio. The Company’s Engraving segment provides mold texturizing and slush molding tools; and roll engraving, hygiene product tooling, low observation vents for stealth aircraft, and process machineries, as well as project management and design services.

Standex International Corporation (NYSE:SXI) Institutional Positions Chart

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