“SNA shares offer investors a compelling opportunity after being off about 5% on mixed 2Q17 results vs. the S&P 500 essentially flat. We believe all three businesses still have favorable outlooks. Despite slowing growth in the core van channel business, there are additional growth drivers that include enhancing the core Snap-on van channel, expanding the customer base, extending its reach in critical industries, and capitalizing on the development of emerging markets. With three business segments generating low- to mid-single-digit annual organic revenue growth, the company continues to generate positive operating leverage from a more favorable product mix and continuous improvement initiatives.”,” FBR & Co’s analyst commented.
SNA has been the subject of a number of other research reports. Jefferies Group LLC restated a hold rating and set a $175.00 price objective (up previously from $165.00) on shares of Snap-On in a report on Sunday, April 23rd. Oppenheimer Holdings, Inc. began coverage on shares of Snap-On in a report on Tuesday, April 11th. They set an outperform rating and a $200.00 price objective for the company. Zacks Investment Research cut shares of Snap-On from a hold rating to a sell rating in a report on Wednesday, July 12th. CIBC restated an outperform rating and set a $200.00 price objective on shares of Snap-On in a report on Wednesday, April 12th. Finally, BidaskClub cut shares of Snap-On from a sell rating to a strong sell rating in a report on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $198.00.
Snap-On (NYSE SNA) opened at 150.00 on Friday. The company has a 50-day moving average of $156.90 and a 200-day moving average of $166.66. Snap-On has a 1-year low of $145.17 and a 1-year high of $181.73. The firm has a market cap of $8.64 billion, a price-to-earnings ratio of 15.53 and a beta of 1.06.
Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.05. The business had revenue of $921.40 million during the quarter, compared to the consensus estimate of $920.87 million. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. Snap-On’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.36 earnings per share. Analysts predict that Snap-On will post $10.09 earnings per share for the current year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Adirondack Trust Co. boosted its position in shares of Snap-On by 2.5% in the first quarter. Adirondack Trust Co. now owns 624 shares of the company’s stock worth $105,000 after buying an additional 15 shares in the last quarter. TrimTabs Asset Management LLC boosted its position in shares of Snap-On by 88.4% in the first quarter. TrimTabs Asset Management LLC now owns 665 shares of the company’s stock worth $112,000 after buying an additional 312 shares in the last quarter. Van ECK Associates Corp boosted its position in shares of Snap-On by 7.5% in the first quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock worth $143,000 after buying an additional 59 shares in the last quarter. IHT Wealth Management LLC boosted its position in shares of Snap-On by 13.8% in the first quarter. IHT Wealth Management LLC now owns 983 shares of the company’s stock worth $160,000 after buying an additional 119 shares in the last quarter. Finally, Global X Management Co. LLC boosted its position in shares of Snap-On by 28.7% in the first quarter. Global X Management Co. LLC now owns 1,064 shares of the company’s stock worth $179,000 after buying an additional 237 shares in the last quarter. Hedge funds and other institutional investors own 91.13% 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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