StockNews.com Initiates Coverage on L.S. Starrett (NYSE:SCX)

StockNews.com started coverage on shares of L.S. Starrett (NYSE:SCX) in a research note issued to investors on Monday. The brokerage set a “buy” rating on the stock.

L.S. Starrett Stock Performance

NYSE SCX opened at $16.01 on Monday. The company has a market cap of $120.24 million, a P/E ratio of 6.23 and a beta of 0.46. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.42 and a current ratio of 3.11. The business’s 50 day moving average price is $14.07 and its 200-day moving average price is $12.26. L.S. Starrett has a fifty-two week low of $8.55 and a fifty-two week high of $16.04.

L.S. Starrett (NYSE:SCX) last released its earnings results on Friday, February 16th. The company reported ($0.05) earnings per share for the quarter. The company had revenue of $62.08 million for the quarter. L.S. Starrett had a net margin of 7.72% and a return on equity of 3.45%.

Hedge Funds Weigh In On L.S. Starrett

An institutional investor recently bought a new position in L.S. Starrett stock. Victory Capital Management Inc. acquired a new stake in The L.S. Starrett Company (NYSE:SCX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 9,406 shares of the company’s stock, valued at approximately $114,000. Victory Capital Management Inc. owned about 0.13% of L.S. Starrett as of its most recent SEC filing. Hedge funds and other institutional investors own 43.40% of the company’s stock.

L.S. Starrett Company Profile

The L.S. Starrett Company, together with its subsidiaries, manufactures and sells industrial, professional, and consumer measuring and cutting tools, and related products in North America, Brazil, and China. The company's products include precision tools, electronic gauges, gage blocks, optical vision and laser measuring equipment, custom engineered granite solutions, tape measures, levels, chalk products, squares, band saw blades, hole saws, hacksaw blades, jig saw blades, and reciprocating saw blades, as well as M1 lubricant and precision ground flat stock products.