Snap-on (NYSE:SNA) Stock Price Down 5.4% – What’s Next?

Snap-on Incorporated (NYSE:SNA) traded down 5.4% on Thursday . The company traded as low as $338.74 and last traded at $336.84. 76,238 shares were traded during mid-day trading, a decline of 80% from the average session volume of 375,083 shares. The stock had previously closed at $356.10.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on SNA shares. Bank of America raised their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday, October 18th. Roth Mkm lifted their price objective on Snap-on from $324.00 to $365.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird increased their target price on shares of Snap-on from $290.00 to $347.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Barrington Research restated an “outperform” rating and issued a $360.00 price target on shares of Snap-on in a research report on Monday, February 3rd. Finally, Tigress Financial increased their price objective on shares of Snap-on from $336.00 to $385.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $347.40.

Snap-on Stock Performance

The stock has a market capitalization of $17.75 billion, a price-to-earnings ratio of 17.34, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99. The company has a 50 day simple moving average of $348.45 and a 200-day simple moving average of $318.53. The company has a quick ratio of 3.14, a current ratio of 4.15 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter in the prior year, the firm posted $4.75 EPS. As a group, equities research analysts expect that Snap-on Incorporated will post 20.07 EPS for the current fiscal year.

Insider Activity

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares in the company, valued at approximately $830,586.54. This represents a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total value of $7,729,261.89. Following the sale, the chief executive officer now owns 769,738 shares of the company’s stock, valued at approximately $273,126,134.54. This represents a 2.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,192 shares of company stock worth $11,400,978 in the last three months. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Czech National Bank raised its holdings in shares of Snap-on by 6.8% in the 3rd quarter. Czech National Bank now owns 10,732 shares of the company’s stock worth $3,109,000 after acquiring an additional 685 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Snap-on by 25.4% in the third quarter. Brookstone Capital Management now owns 1,116 shares of the company’s stock worth $323,000 after purchasing an additional 226 shares during the last quarter. Jessup Wealth Management Inc purchased a new position in shares of Snap-on during the third quarter valued at approximately $282,000. JGP Wealth Management LLC boosted its position in shares of Snap-on by 4.1% during the third quarter. JGP Wealth Management LLC now owns 3,206 shares of the company’s stock valued at $929,000 after buying an additional 127 shares during the last quarter. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in Snap-on by 19.8% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 29,600 shares of the company’s stock worth $8,572,000 after buying an additional 4,900 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.