Snap-on (NYSE:SNA) Stock Rating Reaffirmed by Roth Mkm

Snap-on (NYSE:SNA)‘s stock had its “buy” rating reiterated by equities researchers at Roth Mkm in a research note issued on Thursday, Benzinga reports. They currently have a $324.00 price target on the stock. Roth Mkm’s target price indicates a potential upside of 20.54% from the company’s previous close.

Several other research firms have also recently issued reports on SNA. Barrington Research reiterated an “outperform” rating and issued a $325.00 target price on shares of Snap-on in a research note on Monday, April 15th. Tigress Financial reiterated a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $301.40.

Snap-on Stock Up 2.7 %

SNA stock opened at $268.80 on Thursday. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.88 and a quick ratio of 2.81. The firm’s fifty day simple moving average is $283.78 and its 200-day simple moving average is $278.27. Snap-on has a 12 month low of $245.73 and a 12 month high of $298.49. The company has a market capitalization of $14.20 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 2.03 and a beta of 0.99.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The company’s revenue was down .1% on a year-over-year basis. During the same quarter last year, the business posted $4.60 EPS. As a group, equities research analysts forecast that Snap-on will post 19.22 earnings per share for the current year.

Insider Transactions at Snap-on

In related news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares in the company, valued at $213,420,264.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The disclosure for this sale can be found here. Insiders sold 47,368 shares of company stock valued at $13,399,449 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Snap-on

A number of large investors have recently made changes to their positions in SNA. Confluence Investment Management LLC acquired a new position in Snap-on during the first quarter worth $173,451,000. Norges Bank acquired a new position in shares of Snap-on during the 4th quarter valued at about $145,665,000. Nordea Investment Management AB grew its holdings in shares of Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after purchasing an additional 298,727 shares during the period. Wellington Management Group LLP increased its position in Snap-on by 7,194.3% during the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock worth $49,551,000 after purchasing an additional 237,843 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in Snap-on by 25.1% during the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after purchasing an additional 147,997 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

About Snap-on

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.