Snap-On Incorporated (NYSE:SNA) – Analysts at Oppenheimer Holdings reduced their Q4 2017 EPS estimates for shares of Snap-On in a research note issued to investors on Thursday. Oppenheimer Holdings analyst C. Glynn now expects that the company will post earnings of $2.64 per share for the quarter, down from their prior forecast of $2.68. Oppenheimer Holdings has a “Outperform” rating and a $200.00 price objective on the stock.
Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 20th. The company reported $2.60 EPS for the quarter, beating the consensus estimate of $2.55 by $0.05. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The business had revenue of $921.40 million for the quarter, compared to analysts’ expectations of $920.87 million. During the same period in the previous year, the company posted $2.36 EPS. Snap-On’s revenue was up 5.6% on a year-over-year basis.
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A number of other equities research analysts have also recently weighed in on SNA. CIBC restated an “outperform” rating and set a $200.00 price objective on shares of Snap-On in a research note on Wednesday, April 12th. Jefferies Group LLC reiterated a “hold” rating and issued a $175.00 price target (up from $165.00) on shares of Snap-On in a research note on Sunday, April 23rd. BidaskClub upgraded Snap-On from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. FBR & Co reiterated an “outperform” rating and issued a $205.00 price target on shares of Snap-On in a research note on Tuesday, July 11th. Finally, Zacks Investment Research cut Snap-On from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $198.00.
Snap-On (NYSE:SNA) traded up 1.29% during trading on Monday, hitting $149.42. 469,528 shares of the stock traded hands. The company has a market capitalization of $8.60 billion, a P/E ratio of 15.47 and a beta of 1.06. Snap-On has a one year low of $145.17 and a one year high of $181.73. The company’s 50 day moving average is $156.08 and its 200 day moving average is $166.28.
A number of large investors have recently added to or reduced their stakes in SNA. Albert D Mason Inc. boosted its stake in Snap-On by 97.9% in the second quarter. Albert D Mason Inc. now owns 9,025 shares of the company’s stock worth $1,426,000 after buying an additional 4,465 shares during the period. First Midwest Bank Trust Division boosted its stake in Snap-On by 7.6% in the second quarter. First Midwest Bank Trust Division now owns 4,945 shares of the company’s stock worth $781,000 after buying an additional 351 shares during the period. Riverbridge Partners LLC boosted its stake in Snap-On by 0.5% in the second quarter. Riverbridge Partners LLC now owns 216,758 shares of the company’s stock worth $34,248,000 after buying an additional 1,111 shares during the period. PGGM Investments acquired a new stake in Snap-On during the second quarter worth approximately $30,380,000. Finally, Copeland Capital Management LLC boosted its stake in Snap-On by 2.0% in the second quarter. Copeland Capital Management LLC now owns 87,145 shares of the company’s stock worth $13,770,000 after buying an additional 1,693 shares during the period. Institutional investors own 91.13% of the company’s stock.
In other Snap-On news, VP Iain Boyd sold 18,418 shares of the stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $147.54, for a total value of $2,717,391.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.70% of the company’s stock.
Snap-On Company Profile
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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