Snap-On Incorporated (NYSE:SNA) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Snap-On Incorporated (NYSE:SNA) have been given an average rating of “Moderate Buy” by the six research firms that are presently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $426.20.

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

Snap-On Stock Down 0.1%

SNA opened at $375.03 on Monday. The firm has a 50-day simple moving average of $400.36 and a two-hundred day simple moving average of $385.25. Snap-On has a 52 week low of $320.80 and a 52 week high of $423.02. The company has a market capitalization of $19.40 billion, a PE ratio of 19.12, a price-to-earnings-growth ratio of 2.64 and a beta of 0.72. The company has a quick ratio of 2.64, a current ratio of 3.43 and a debt-to-equity ratio of 0.15.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted $4.72 earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Snap-On will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a $2.44 dividend. The ex-dividend date was Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s payout ratio is 49.77%.

Insider Activity

In related news, VP Richard Miller sold 2,000 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the completion of the transaction, the vice president owned 4,529 shares of the company’s stock, valued at approximately $1,838,411.68. This trade represents a 30.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo Pagliari sold 5,531 shares of Snap-On stock in a transaction dated 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 owned 120,644 shares of the company’s stock, valued at approximately $48,770,337. This represents a 4.38% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 40,720 shares of company stock worth $16,500,198. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Snap-On

Several large investors have recently modified their holdings of the stock. DV Equities LLC bought a new stake in Snap-On in the fourth quarter worth $25,000. Western Wealth Management LLC purchased a new stake in shares of Snap-On in the first quarter valued at $29,000. Quattro Advisors LLC bought a new stake in shares of Snap-On in the 4th quarter worth about $35,000. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after purchasing an additional 28 shares during the last quarter. Finally, Manchester Capital Management LLC raised its position in Snap-On by 152.4% in the 4th quarter. Manchester Capital Management LLC now owns 106 shares of the company’s stock worth $37,000 after purchasing an additional 64 shares during the period. Institutional investors own 84.88% of the company’s stock.

About Snap-On

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics and repair information. Its products include hand and power tools, tool storage, vehicle diagnostic systems, shop equipment, repair software and related services. The company serves professional technicians and customers in the automotive repair, commercial transportation, industrial, aviation, military, agriculture and other technical markets.

Snap-on sells products under the Snap-on brand and other brands, including Blue-Point, through a broad distribution network.