Roth Capital Issues Optimistic Forecast for Snap-on Earnings

Snap-on Incorporated (NYSE:SNA) – Analysts at Roth Capital boosted their FY2024 earnings per share estimates for Snap-on in a research report issued on Tuesday, October 22nd. Roth Capital analyst S. Stember now expects that the company will post earnings of $19.16 per share for the year, up from their previous forecast of $19.09. The consensus estimate for Snap-on’s current full-year earnings is $19.04 per share. Roth Capital also issued estimates for Snap-on’s Q4 2024 earnings at $4.80 EPS, Q3 2025 earnings at $5.13 EPS and FY2026 earnings at $22.14 EPS.

A number of other research firms also recently commented on SNA. Roth Mkm boosted their target price on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research report on Tuesday. Bank of America boosted their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Robert W. Baird boosted their target price on Snap-on from $290.00 to $347.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Barrington Research boosted their target price on Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Tigress Financial restated a “buy” rating and set a $336.00 price objective on shares of Snap-on in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Snap-on presently has a consensus rating of “Hold” and a consensus price target of $335.60.

Snap-on Price Performance

NYSE:SNA opened at $325.25 on Thursday. The company has a current ratio of 4.18, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $17.08 billion, a P/E ratio of 16.74, a P/E/G ratio of 2.14 and a beta of 0.98. Snap-on has a 12 month low of $249.84 and a 12 month high of $330.51. The business’s 50-day moving average is $287.40 and its 200 day moving average is $277.35.

Snap-on declared that its Board of Directors has initiated a stock repurchase program on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its shares are undervalued.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.29%. Snap-on’s dividend payout ratio (DPR) is presently 38.29%.

Insider Buying and Selling at Snap-on

In other Snap-on news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now directly owns 2,283 shares in the company, valued at $648,303.51. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, VP June C. Lemerand sold 1,186 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total transaction of $336,788.42. Following the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Richard Thomas Miller sold 1,750 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $330.00, for a total value of $577,500.00. Following the transaction, the vice president now directly owns 3,218 shares in the company, valued at approximately $1,061,940. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,598 shares of company stock worth $10,461,986 over the last ninety days. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Earnest Partners LLC grew its stake in shares of Snap-on by 1.4% during the second quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock valued at $246,424,000 after buying an additional 13,033 shares during the last quarter. Nordea Investment Management AB grew its stake in Snap-on by 3.2% in the first quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock worth $265,217,000 after purchasing an additional 27,429 shares in the last quarter. Pacer Advisors Inc. grew its stake in Snap-on by 51.2% in the second quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after purchasing an additional 280,997 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Snap-on by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock worth $213,686,000 after purchasing an additional 65,485 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in Snap-on by 0.4% in the second quarter. Envestnet Asset Management Inc. now owns 732,571 shares of the company’s stock worth $191,487,000 after purchasing an additional 2,616 shares in the last quarter. 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.