Snap One (NASDAQ:SNPO) Stock Rating Reaffirmed by Truist Financial

Truist Financial restated their hold rating on shares of Snap One (NASDAQ:SNPO) in a research report sent to investors on Tuesday, Benzinga reports. They currently have a $10.75 price target on the stock, down from their previous price target of $12.00.

Other equities research analysts also recently issued reports about the stock. William Blair downgraded shares of Snap One from an outperform rating to a market perform rating in a report on Monday. UBS Group lowered their price target on shares of Snap One from $14.00 to $12.00 and set a buy rating for the company in a report on Tuesday, February 27th. Five analysts have rated the stock with a hold rating and one has given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $11.05.

Snap One Stock Performance

Shares of SNPO opened at $10.58 on Tuesday. The company has a current ratio of 2.40, a quick ratio of 0.79 and a debt-to-equity ratio of 0.65. The stock has a market cap of $809.79 million, a P/E ratio of -37.78 and a beta of 1.27. The company has a 50-day moving average of $8.51 and a two-hundred day moving average of $8.35. Snap One has a 12-month low of $6.70 and a 12-month high of $12.06.

Snap One (NASDAQ:SNPO) last announced its earnings results on Thursday, March 7th. The company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $264.39 million during the quarter, compared to analysts’ expectations of $267.62 million. Snap One had a negative net margin of 2.01% and a positive return on equity of 2.77%. As a group, research analysts predict that Snap One will post 0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Snap One

Hedge funds and other institutional investors have recently modified their holdings of the company. Swiss National Bank grew its holdings in Snap One by 7.5% in the first quarter. Swiss National Bank now owns 35,900 shares of the company’s stock valued at $530,000 after purchasing an additional 2,500 shares during the period. JPMorgan Chase & Co. grew its holdings in Snap One by 41.8% in the first quarter. JPMorgan Chase & Co. now owns 12,268 shares of the company’s stock valued at $181,000 after purchasing an additional 3,618 shares during the period. Bank of New York Mellon Corp grew its holdings in Snap One by 19.4% in the first quarter. Bank of New York Mellon Corp now owns 46,982 shares of the company’s stock valued at $693,000 after purchasing an additional 7,646 shares during the period. MetLife Investment Management LLC grew its holdings in Snap One by 57.0% in the first quarter. MetLife Investment Management LLC now owns 9,186 shares of the company’s stock valued at $135,000 after purchasing an additional 3,335 shares during the period. Finally, Rhumbline Advisers purchased a new stake in Snap One in the first quarter valued at approximately $200,000. 92.67% of the stock is currently owned by hedge funds and other institutional investors.

About Snap One

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.