Wall Street Zen Upgrades Snap-On (NYSE:SNA) to “Buy”

Snap-On (NYSE:SNA) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

Several other brokerages have also commented on SNA. Robert W. Baird raised their price target on Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research note on Friday. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Bank of America raised their price target on Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a research note on Friday, July 18th. Roth Capital restated a “buy” rating and set a $385.00 price target on shares of Snap-On in a research note on Friday. Finally, Tigress Financial raised their price target on Snap-On from $390.00 to $395.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Six analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $363.57.

Snap-On Stock Performance

SNA stock opened at $339.61 on Friday. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $332.77 and its two-hundred day simple moving average is $323.68. Snap-On has a twelve month low of $289.81 and a twelve month high of $373.89. The firm has a market cap of $17.66 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.36 and a beta of 0.78.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, beating the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion for the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter last year, the firm posted $4.70 earnings per share. Analysts predict that Snap-On will post 19.79 earnings per share for the current year.

Insider Transactions at Snap-On

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the sale, the chief executive officer owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 125 shares of the firm’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the completion of the sale, the chief financial officer directly owned 111,721 shares of the company’s stock, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,898 shares of company stock worth $8,983,203. 3.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap-On

Institutional investors have recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC purchased a new position in shares of Snap-On in the second quarter worth about $434,938,000. Auto Owners Insurance Co raised its stake in shares of Snap-On by 35,967.2% in the first quarter. Auto Owners Insurance Co now owns 1,073,000 shares of the company’s stock worth $361,612,000 after purchasing an additional 1,070,025 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Snap-On by 40.7% in the second quarter. First Trust Advisors LP now owns 1,892,708 shares of the company’s stock worth $588,973,000 after purchasing an additional 547,527 shares during the last quarter. Norges Bank purchased a new position in shares of Snap-On in the second quarter worth about $168,010,000. Finally, Ameriprise Financial Inc. raised its stake in shares of Snap-On by 54.3% in the first quarter. Ameriprise Financial Inc. now owns 681,857 shares of the company’s stock worth $229,793,000 after purchasing an additional 239,908 shares during the last quarter. Institutional investors and hedge funds 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.