Snap-on (NYSE:SNA)‘s stock had its “buy” rating reaffirmed by stock analysts at Barrington Research in a report issued on Thursday, AnalystRatings.com reports. They currently have a $185.00 target price on the stock. Barrington Research’s target price suggests a potential upside of 19.22% from the stock’s current price.
SNA has been the subject of several other research reports. ValuEngine raised shares of Snap-on from a “sell” rating to a “hold” rating in a report on Tuesday, September 10th. Robert W. Baird boosted their price target on shares of Snap-on from $164.00 to $165.00 and gave the company a “neutral” rating in a report on Monday. Longbow Research reissued a “hold” rating on shares of Snap-on in a report on Monday, July 1st. Zacks Investment Research downgraded shares of Snap-on from a “hold” rating to a “sell” rating and set a $166.00 price objective for the company. in a report on Tuesday, July 16th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of Snap-on in a report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Snap-on presently has an average rating of “Hold” and a consensus target price of $172.80.
Shares of SNA traded down $2.85 during midday trading on Thursday, hitting $155.18. 39,087 shares of the stock traded hands, compared to its average volume of 353,616. Snap-on has a 1-year low of $135.29 and a 1-year high of $174.00. The firm has a market capitalization of $8.72 billion, a PE ratio of 13.12, a price-to-earnings-growth ratio of 1.48 and a beta of 1.25. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 2.48. The business’s 50 day moving average price is $154.37 and its two-hundred day moving average price is $157.93.
Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 17th. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.02. Snap-on had a net margin of 18.70% and a return on equity of 21.40%. The company had revenue of $901.80 million during the quarter, compared to the consensus estimate of $909.23 million. During the same quarter in the previous year, the company posted $2.88 earnings per share. The company’s revenue for the quarter was up .4% compared to the same quarter last year. As a group, equities research analysts forecast that Snap-on will post 12.26 EPS for the current fiscal year.
In related news, CEO Nicholas T. Pinchuk sold 19,675 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $155.46, for a total value of $3,058,675.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Anup R. Banerjee sold 2,800 shares of the company’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $150.40, for a total transaction of $421,120.00. Following the completion of the sale, the senior vice president now directly owns 128 shares of the company’s stock, valued at approximately $19,251.20. The disclosure for this sale can be found here. Corporate insiders own 3.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of the business. Commerzbank Aktiengesellschaft FI raised its position in Snap-on by 34.1% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 3,639 shares of the company’s stock worth $570,000 after acquiring an additional 926 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Snap-on in the third quarter worth about $219,000. DNB Asset Management AS raised its position in Snap-on by 14.9% in the third quarter. DNB Asset Management AS now owns 12,787 shares of the company’s stock worth $2,002,000 after acquiring an additional 1,655 shares in the last quarter. Stock Yards Bank & Trust Co. raised its position in Snap-on by 1.4% in the third quarter. Stock Yards Bank & Trust Co. now owns 56,861 shares of the company’s stock worth $8,902,000 after acquiring an additional 806 shares in the last quarter. Finally, Winmill & CO. Inc. bought a new stake in Snap-on in the third quarter worth about $2,818,000.
Snap-on Company Profile
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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