Analysts Set Snap-On Incorporated (NYSE:SNA) Price Target at $426.20

Shares of Snap-On Incorporated (NYSE:SNA) have earned a consensus rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $426.20.

SNA has been the subject of several analyst reports. Robert W. Baird set a $415.00 target price on Snap-On in a research report on Friday, July 24th. Barclays began coverage on Snap-On in a report on Thursday, May 28th. They set an “overweight” rating and a $420.00 target price on the stock. Tigress Financial upped their price target on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Finally, Roth Capital reiterated a “buy” rating and set a $461.00 price objective (up from $409.00) on shares of Snap-On in a research note on Friday, July 24th.

Snap-On Stock Performance

NYSE:SNA opened at $378.04 on Monday. The firm’s fifty day simple moving average is $401.85 and its 200 day simple moving average is $385.40. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. Snap-On has a twelve month low of $320.80 and a twelve month high of $423.02. The firm has a market capitalization of $19.56 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 2.67 and a beta of 0.72.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.95 by $0.01. The firm had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. Snap-On had a return on equity of 17.07% and a net margin of 21.25%.The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.72 EPS. As a group, equities research analysts expect that Snap-On will post 19.7 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 19th will be issued a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Wednesday, August 19th. Snap-On’s dividend payout ratio (DPR) is presently 49.77%.

Insider Activity

In other news, VP Richard Miller sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total transaction of $811,840.00. Following the completion of the sale, the vice president directly owned 4,529 shares in the company, valued at $1,838,411.68. This trade represents a 30.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total value of $320,000.00. Following the sale, the vice president owned 1,526 shares of the company’s stock, valued at $610,400. This represents a 34.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 40,720 shares of company stock worth $16,500,198 over the last three months. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SNA. Annis Gardner Whiting Capital Advisors LLC grew its stake 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 in the last quarter. Verition Fund Management LLC raised its position in shares of Snap-On by 1.5% in the 4th quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock valued at $635,000 after purchasing an additional 28 shares in the last quarter. Ritholtz Wealth Management boosted its stake in shares of Snap-On by 2.4% during the 1st quarter. Ritholtz Wealth Management now owns 1,435 shares of the company’s stock valued at $521,000 after buying an additional 34 shares during the last quarter. Pinnacle Associates Ltd. boosted its stake in shares of Snap-On by 5.4% during the 4th quarter. Pinnacle Associates Ltd. now owns 758 shares of the company’s stock valued at $261,000 after buying an additional 39 shares during the last quarter. Finally, CX Institutional grew its position in shares of Snap-On by 10.6% during the second quarter. CX Institutional now owns 447 shares of the company’s stock worth $180,000 after buying an additional 43 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Company Profile

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.