Tigress Financial Reiterates “Buy” Rating for Snap-on (NYSE:SNA)

Tigress Financial reiterated their buy rating on shares of Snap-on (NYSE:SNA) in a research report sent to investors on Thursday, Benzinga reports. Tigress Financial currently has a $336.00 price objective on the stock.

A number of other research analysts have also recently commented on SNA. Robert W. Baird cut their price target on shares of Snap-on from $282.00 to $275.00 and set a neutral rating for the company in a research note on Friday, July 12th. Roth Mkm reaffirmed a buy rating and set a $324.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. Finally, Barrington Research reaffirmed an outperform rating and set a $325.00 price objective on shares of Snap-on in a report on Tuesday, July 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $315.00.

Snap-on Stock Up 2.6 %

NYSE SNA opened at $280.66 on Thursday. The stock has a market cap of $14.79 billion, a PE ratio of 14.73, a PEG ratio of 1.94 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on has a twelve month low of $249.84 and a twelve month high of $298.49. The firm has a 50-day simple moving average of $267.66 and a 200 day simple moving average of $277.16.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The company’s revenue for the quarter was down 1.0% compared to the same quarter last year. During the same quarter last year, the company earned $4.89 earnings per share. On average, research analysts forecast that Snap-on will post 18.97 EPS for the current year.

Insider Transactions at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Aldo John Pagliari sold 5,978 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the sale, the chief financial officer now owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 24,220 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $266.80, for a total transaction of $6,461,896.00. Following the completion of the sale, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at approximately $200,276,888.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,632 shares of company stock valued at $10,353,409. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Snap-on

A number of institutional investors have recently bought and sold shares of the business. OmniStar Financial Group Inc. grew its holdings in Snap-on by 9.1% during the 2nd quarter. OmniStar Financial Group Inc. now owns 2,301 shares of the company’s stock worth $601,000 after acquiring an additional 192 shares during the period. Leith Wheeler Investment Counsel Ltd. grew its holdings in Snap-on by 0.7% during the 2nd quarter. Leith Wheeler Investment Counsel Ltd. now owns 34,050 shares of the company’s stock worth $8,900,000 after acquiring an additional 250 shares during the period. AustralianSuper Pty Ltd grew its holdings in Snap-on by 6.5% during the 2nd quarter. AustralianSuper Pty Ltd now owns 25,264 shares of the company’s stock worth $6,604,000 after acquiring an additional 1,550 shares during the period. Bailard Inc. acquired a new stake in Snap-on during the 2nd quarter worth $1,835,000. Finally, Bank of New York Mellon Corp grew its holdings in Snap-on by 0.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 463,142 shares of the company’s stock worth $121,061,000 after acquiring an additional 3,143 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

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.