Wall Street brokerages predict that Snap-on Incorporated (NYSE:SNA) will announce $963.25 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have issued estimates for Snap-on’s earnings. The highest sales estimate is $970.80 million and the lowest is $956.00 million. Snap-on posted sales of $952.50 million in the same quarter last year, which suggests a positive year-over-year growth rate of 1.1%. The firm is scheduled to report its next earnings report before the market opens on Thursday, February 6th.
According to Zacks, analysts expect that Snap-on will report full-year sales of $3.74 billion for the current fiscal year, with estimates ranging from $3.73 billion to $3.75 billion. For the next year, analysts anticipate that the firm will report sales of $3.84 billion, with estimates ranging from $3.81 billion to $3.86 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow Snap-on.
Several analysts recently weighed in on the company. ValuEngine upgraded Snap-on from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Barrington Research restated a “buy” rating and issued a $185.00 price objective on shares of Snap-on in a report on Thursday, October 17th. Tigress Financial restated a “buy” rating on shares of Snap-on in a report on Friday, October 25th. Finally, Robert W. Baird restated a “hold” rating and issued a $169.00 price objective on shares of Snap-on in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Snap-on has a consensus rating of “Hold” and an average target price of $173.60.
In other Snap-on news, CEO Nicholas T. Pinchuk sold 19,293 shares of the business’s stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $168.66, for a total value of $3,253,957.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Aldo John Pagliari sold 4,243 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $171.32, for a total transaction of $726,910.76. The disclosure for this sale can be found here. Insiders sold 47,670 shares of company stock valued at $8,099,674 over the last quarter. 3.90% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in the business. Nuveen Asset Management LLC grew its stake in shares of Snap-on by 5,391.2% during the second quarter. Nuveen Asset Management LLC now owns 256,327 shares of the company’s stock worth $42,458,000 after acquiring an additional 251,659 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Snap-on by 89.5% during the second quarter. Price T Rowe Associates Inc. MD now owns 324,381 shares of the company’s stock worth $53,730,000 after acquiring an additional 153,243 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Snap-on by 1.6% during the second quarter. Vanguard Group Inc. now owns 6,104,323 shares of the company’s stock worth $1,011,120,000 after acquiring an additional 96,196 shares during the last quarter. Cincinnati Financial Corp grew its stake in shares of Snap-on by 97.9% during the third quarter. Cincinnati Financial Corp now owns 190,000 shares of the company’s stock worth $29,743,000 after acquiring an additional 94,000 shares during the last quarter. Finally, Balyasny Asset Management LLC grew its stake in shares of Snap-on by 109.6% during the second quarter. Balyasny Asset Management LLC now owns 7,752 shares of the company’s stock worth $1,284,000 after acquiring an additional 88,752 shares during the last quarter. Institutional investors and hedge funds own 98.58% of the company’s stock.
Shares of SNA stock traded down $2.47 on Friday, hitting $165.97. The stock had a trading volume of 352,816 shares, compared to its average volume of 309,320. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.30. The business has a 50 day moving average price of $168.30 and a 200 day moving average price of $159.45. The company has a market cap of $9.19 billion, a PE ratio of 13.35, a P/E/G ratio of 1.54 and a beta of 1.23. Snap-on has a one year low of $143.12 and a one year high of $174.00.
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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