2024-04-24 06:06:02 ET
Summary
- Stanley Black & Decker's stock performance has suffered since 2022, but new management has taken steps to improve the company's fundamentals.
- The company's earnings per share and free cash flow have declined since 2021, reflecting underlying issues.
- New management has made progress in turning the company's performance around, reducing working capital, achieving cost savings and improving free cash flow; however, they need to do more.
- Relative valuation indicates that the company is fair to undervalued range.
Thesis
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Stanley Black & Decker Is Recovering But Needs More Conviction