Brokerages Set Snap-On Incorporated (NYSE:SNA) PT at $426.20

Shares of Snap-On Incorporated (NYSE:SNAGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the six brokerages that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $426.20.

A number of research firms have commented on SNA. Tigress Financial increased their target price on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Robert W. Baird set a $415.00 target price on Snap-On in a report on Friday, July 24th. Barclays started coverage on shares of Snap-On in a research note on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price on the stock. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Friday, July 17th. Finally, Roth Capital reissued a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th.

Read Our Latest Research Report on SNA

Insider Buying and Selling at Snap-On

In other news, CFO Aldo John Pagliari sold 5,531 shares of the company’s stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the completion of the transaction, the chief financial officer directly owned 120,644 shares of the company’s stock, valued at $48,770,337. This represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total value of $811,840.00. Following the transaction, the vice president owned 4,529 shares of the company’s stock, valued at approximately $1,838,411.68. The trade was a 30.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 23,039 shares of company stock worth $9,334,505. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Snap-On

Several hedge funds and other institutional investors have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Snap-On by 15.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after purchasing an additional 1,185 shares in the last quarter. Woodline Partners LP raised its holdings in shares of Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after buying an additional 1,273 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Snap-On by 100.9% in the second quarter. EverSource Wealth Advisors LLC now owns 464 shares of the company’s stock worth $144,000 after acquiring an additional 233 shares during the period. Gamco Investors INC. ET AL lifted its stake in shares of Snap-On by 32.9% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,752 shares of the company’s stock valued at $545,000 after purchasing an additional 434 shares during the period. Finally, Natixis increased its stake in shares of Snap-On by 136.8% during the second quarter. Natixis now owns 3,048 shares of the company’s stock worth $948,000 after purchasing an additional 1,761 shares in the last quarter. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

Snap-On Stock Down 0.5%

SNA stock opened at $401.56 on Thursday. The company has a fifty day moving average of $402.57 and a 200-day moving average of $383.95. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The stock has a market capitalization of $20.77 billion, a PE ratio of 20.48, a price-to-earnings-growth ratio of 2.84 and a beta of 0.73. Snap-On has a one year low of $319.20 and a one year high of $423.02.

Snap-On (NYSE:SNAGet Free Report) last released its quarterly earnings data on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, beating the consensus estimate of $4.95 by $0.01. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the company posted $4.72 EPS. The company’s revenue was up 4.7% compared to the same quarter last year. As a group, analysts expect that Snap-On will post 19.7 EPS for the current year.

Snap-On announced that its Board of Directors has authorized a share buyback program on Thursday, April 30th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 2.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be given a dividend of $2.44 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. Snap-On’s dividend payout ratio is currently 49.77%.

About Snap-On

(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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