Shares of Snap-on Incorporated (NYSE:SNA) have received an average recommendation of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $179.50.
A number of analysts have recently weighed in on the company. Zacks Investment Research raised Snap-on from a “sell” rating to a “hold” rating in a research report on Wednesday, April 24th. Barrington Research set a $185.00 price objective on Snap-on and gave the stock a “buy” rating in a research report on Monday, April 22nd. Robert W. Baird cut Snap-on from an “outperform” rating to a “neutral” rating and lowered their price objective for the stock from $186.00 to $160.00 in a research report on Wednesday, April 10th. Bank of America cut Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 price objective for the company. in a research report on Tuesday, April 16th. Finally, Northcoast Research reissued a “neutral” rating on shares of Snap-on in a research report on Friday, May 17th.
In other Snap-on news, SVP Thomas J. Ward sold 21,000 shares of Snap-on stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $169.75, for a total transaction of $3,564,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Nicholas T. Pinchuk sold 11,783 shares of Snap-on stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $156.68, for a total value of $1,846,160.44. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SNA. CSat Investment Advisory L.P. increased its stake in shares of Snap-on by 81.4% in the 4th quarter. CSat Investment Advisory L.P. now owns 205 shares of the company’s stock valued at $30,000 after purchasing an additional 92 shares in the last quarter. Signaturefd LLC increased its stake in shares of Snap-on by 326.7% in the 1st quarter. Signaturefd LLC now owns 192 shares of the company’s stock valued at $30,000 after purchasing an additional 147 shares in the last quarter. Riverview Trust Co purchased a new position in shares of Snap-on in the 4th quarter valued at about $33,000. FTB Advisors Inc. increased its stake in shares of Snap-on by 120.5% in the 1st quarter. FTB Advisors Inc. now owns 366 shares of the company’s stock valued at $56,000 after purchasing an additional 200 shares in the last quarter. Finally, Zions Bancorporation N.A. purchased a new position in shares of Snap-on in the 1st quarter valued at about $56,000.
NYSE SNA traded down $0.51 during midday trading on Wednesday, hitting $161.98. 253,700 shares of the company traded hands, compared to its average volume of 622,527. The company has a current ratio of 2.42, a quick ratio of 1.66 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $9.03 billion, a PE ratio of 13.72, a price-to-earnings-growth ratio of 1.57 and a beta of 1.26. Snap-on has a 52 week low of $135.29 and a 52 week high of $189.46.
Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $3.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.91 by $0.10. The firm had revenue of $921.70 million during the quarter, compared to analysts’ expectations of $933.13 million. Snap-on had a return on equity of 21.66% and a net margin of 18.64%. The business’s quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.79 EPS. On average, equities analysts predict that Snap-on will post 12.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Tuesday, May 21st were paid a $0.95 dividend. The ex-dividend date was Monday, May 20th. This represents a $3.80 dividend on an annualized basis and a yield of 2.35%. Snap-on’s dividend payout ratio (DPR) is 32.18%.
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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