Snap-On Incorporated (NYSE:SNA) Receives $387.67 Consensus PT from Analysts

Snap-On Incorporated (NYSE:SNAGet Free Report) has been given a consensus recommendation of “Moderate Buy” by the seven research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $387.6667.

Several research firms have recently commented on SNA. Barclays began coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target for the company. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Roth Mkm restated a “buy” rating and set a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Finally, Robert W. Baird upped their price target on shares of Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th.

Check Out Our Latest Report on Snap-On

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 5,713 shares of the stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the transaction, the chief financial officer owned 119,488 shares in the company, valued at $43,874,798.72. This represents a 4.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the completion of the transaction, the senior vice president owned 4,439 shares of the company’s stock, valued at $1,704,220.88. This represents a 48.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 35,117 shares of company stock worth $13,192,082. 3.80% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snap-On

Institutional investors and hedge funds have recently bought and sold shares of the stock. DV Trading LLC acquired a new stake in Snap-On in the 1st quarter valued at about $247,000. Parallel Advisors LLC lifted its holdings in Snap-On by 13.6% in the 1st quarter. Parallel Advisors LLC now owns 753 shares of the company’s stock valued at $274,000 after acquiring an additional 90 shares during the last quarter. Cozad Asset Management Inc. lifted its holdings in Snap-On by 3.6% in the 1st quarter. Cozad Asset Management Inc. now owns 7,675 shares of the company’s stock valued at $2,788,000 after acquiring an additional 264 shares during the last quarter. Axiom Investment Management LLC acquired a new stake in Snap-On in the 1st quarter valued at about $118,000. Finally, Western Wealth Management LLC acquired a new stake in Snap-On in the 1st quarter valued at about $29,000. Institutional investors own 84.88% of the company’s stock.

Snap-On Stock Up 0.1%

Snap-On stock opened at $397.52 on Wednesday. The company has a 50-day simple moving average of $378.13 and a 200-day simple moving average of $370.69. The firm has a market capitalization of $20.59 billion, a P/E ratio of 20.52, a P/E/G ratio of 2.79 and a beta of 0.73. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.74 and a current ratio of 3.53. Snap-On has a one year low of $307.47 and a one year high of $403.35.

Snap-On (NYSE:SNAGet Free Report) last released its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 EPS for the quarter, missing the consensus estimate of $4.75 by ($0.06). The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The firm’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.51 EPS. As a group, equities analysts expect that Snap-On will post 19.7 earnings per share for the current year.

Snap-On Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio is currently 50.39%.

Snap-On declared that its Board of Directors has initiated a share buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Snap-On Company Profile

(Get Free Report)

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.

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Analyst Recommendations for Snap-On (NYSE:SNA)

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