Snap-on (NYSE:SNA) Price Target Cut to $282.00 by Analysts at Robert W. Baird

Snap-on (NYSE:SNA) had its target price dropped by equities research analysts at Robert W. Baird from $295.00 to $282.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 7.73% from the stock’s previous close.

A number of other brokerages also recently commented on SNA. Roth Mkm reissued a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research report on Thursday. Barrington Research reaffirmed an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a report on Monday. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $336.00 price target on shares of Snap-on in a report on Friday, February 16th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $301.40.

Snap-on Stock Down 7.7 %

Shares of SNA opened at $261.76 on Friday. The firm has a market cap of $13.83 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99. Snap-on has a 12-month low of $239.08 and a 12-month high of $298.49. The company’s 50-day moving average price is $283.65 and its 200 day moving average price is $278.16. The company has a current ratio of 3.88, a quick ratio of 2.81 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the firm earned $4.42 earnings per share. The business’s revenue for the quarter was up 3.5% compared to the same quarter last year. On average, sell-side analysts forecast that Snap-on will post 19.22 earnings per share for the current year.

Insider Transactions at Snap-on

In other news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 3,231 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $270.58, for a total value of $874,243.98. Following the sale, the chief financial officer now owns 93,183 shares of the company’s stock, valued at approximately $25,213,456.14. The disclosure for this sale can be found here. Insiders sold 47,368 shares of company stock worth $13,399,449 over the last 90 days. 4.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Checchi Capital Advisers LLC raised its position in Snap-on by 2.0% in the fourth quarter. Checchi Capital Advisers LLC now owns 1,830 shares of the company’s stock worth $529,000 after acquiring an additional 36 shares in the last quarter. Avantax Planning Partners Inc. grew its holdings in Snap-on by 3.5% in the third quarter. Avantax Planning Partners Inc. now owns 1,131 shares of the company’s stock valued at $288,000 after purchasing an additional 38 shares during the last quarter. Phoenix Wealth Advisors grew its holdings in Snap-on by 3.1% in the third quarter. Phoenix Wealth Advisors now owns 1,309 shares of the company’s stock valued at $334,000 after purchasing an additional 39 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Snap-on by 17.2% in the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the company’s stock valued at $79,000 after purchasing an additional 40 shares during the last quarter. Finally, Czech National Bank grew its holdings in Snap-on by 0.4% in the first quarter. Czech National Bank now owns 9,286 shares of the company’s stock valued at $2,751,000 after purchasing an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.