Snap-On Incorporated (NYSE:SNA) Receives $350.83 Average Target Price from Analysts

Snap-On Incorporated (NYSE:SNA) has been assigned an average rating of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $350.83.

Several brokerages have issued reports on SNA. Robert W. Baird lowered their target price on shares of Snap-On from $349.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Tigress Financial lifted their price target on Snap-On from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Barrington Research reiterated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a report on Monday, May 19th. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, Longbow Research upgraded Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a report on Monday, March 31st.

Snap-On Trading Down 0.2%

Shares of SNA opened at $306.76 on Friday. Snap-On has a 52-week low of $252.98 and a 52-week high of $373.90. The company has a quick ratio of 3.18, a current ratio of 4.14 and a debt-to-equity ratio of 0.21. The firm’s fifty day moving average is $318.30 and its two-hundred day moving average is $333.04. The stock has a market cap of $16.04 billion, a PE ratio of 16.06, a price-to-earnings-growth ratio of 2.19 and a beta of 0.78.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-On had a return on equity of 18.60% and a net margin of 21.42%. The business had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm earned $4.91 EPS. Research analysts forecast that Snap-On will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 10th. Investors of record on Tuesday, May 20th were issued a $2.14 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.79%. Snap-On’s dividend payout ratio (DPR) is currently 44.82%.

Insider Activity at Snap-On

In related news, Director Karen L. Daniel sold 1,090 shares of the business’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total value of $348,712.80. Following the sale, the director now directly owns 8,030 shares in the company, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares in the company, valued at approximately $266,221,278.24. This trade represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 52,515 shares of company stock worth $17,094,296. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Snap-On

Institutional investors have recently bought and sold shares of the company. Alpine Bank Wealth Management acquired a new position in Snap-On in the 1st quarter valued at about $25,000. SBI Securities Co. Ltd. acquired a new position in Snap-On in the 4th quarter valued at about $26,000. Golden State Wealth Management LLC grew its position in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after acquiring an additional 80 shares in the last quarter. Cullen Frost Bankers Inc. grew its position in Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after acquiring an additional 72 shares in the last quarter. Finally, Ransom Advisory Ltd acquired a new position in Snap-On in the 1st quarter valued at about $34,000. 84.88% of the stock is owned by institutional investors and hedge funds.

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.