Snap-on (NYSE:SNA – Get Free Report) had its price target hoisted by Barrington Research from $325.00 to $350.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Barrington Research’s price objective points to a potential upside of 8.29% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the stock. Robert W. Baird dropped their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research note on Friday, July 12th. Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a report on Tuesday, July 16th. Finally, Tigress Financial reissued a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Thursday, July 25th.
Snap-on Stock Up 8.4 %
Shares of NYSE SNA traded up $25.13 on Thursday, reaching $323.21. 504,531 shares of the company’s stock traded hands, compared to its average volume of 294,424. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. The business’s 50 day simple moving average is $281.47 and its two-hundred day simple moving average is $276.05. Snap-on has a 12 month low of $249.84 and a 12 month high of $325.20. The company has a market cap of $17.03 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 2.06 and a beta of 0.98.
Snap-on (NYSE:SNA – Get Free Report) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $4.89 earnings per share. The firm’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, equities research analysts forecast that Snap-on will post 18.95 EPS for the current fiscal year.
Snap-on announced that its board has approved a share repurchase program on Thursday, August 8th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In other news, VP Iain Boyd sold 6,044 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares in the company, valued at $3,137,302.07. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, VP Iain Boyd sold 6,044 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the transaction, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total transaction of $336,788.42. Following the sale, the vice president now owns 2,283 shares of the company’s stock, valued at $648,303.51. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,848 shares of company stock valued at $9,884,486. Company insiders own 4.10% of the company’s stock.
Hedge Funds Weigh In On Snap-on
A number of institutional investors have recently bought and sold shares of the stock. EP Wealth Advisors LLC bought a new stake in Snap-on during the 4th quarter worth approximately $228,000. Wellington Management Group LLP lifted its stake in shares of Snap-on by 3.3% during the 4th quarter. Wellington Management Group LLP now owns 159,233 shares of the company’s stock valued at $45,993,000 after buying an additional 5,144 shares in the last quarter. HighPoint Advisor Group LLC bought a new position in Snap-on in the 4th quarter worth $256,000. Nomura Holdings Inc. purchased a new stake in Snap-on in the 4th quarter worth $304,000. Finally, Los Angeles Capital Management LLC grew its position in shares of Snap-on by 34.8% during the first quarter. Los Angeles Capital Management LLC now owns 26,580 shares of the company’s stock worth $7,874,000 after purchasing an additional 6,858 shares in the last quarter. 84.88% of the stock is owned by institutional investors.
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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.