Snap-On Incorporated (NYSE:SNA) Receives $408.20 Average Price Target from Analysts

Shares of Snap-On Incorporated (NYSE:SNAGet Free Report) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently 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 brokers that have updated their coverage on the stock in the last year is $418.20.

A number of research firms recently commented on SNA. Barclays began coverage on shares of Snap-On in a research report on Thursday, May 28th. They set an “overweight” rating and a $420.00 price target on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Robert W. Baird set a $415.00 price objective on Snap-On in a research note on Friday. Finally, Roth Capital reaffirmed a “buy” rating and issued a $461.00 price objective (up from $409.00) on shares of Snap-On in a report on Friday.

Read Our Latest Analysis on SNA

Insider Activity

In other news, CFO Aldo John Pagliari sold 1,330 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $379.27, for a total value of $504,429.10. Following the completion of the transaction, the chief financial officer directly owned 118,158 shares in the company, valued at approximately $44,813,784.66. The trade was a 1.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $405.92, for a total transaction of $811,840.00. Following the sale, the vice president directly 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. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 37,117 shares of company stock worth $14,003,922. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snap-On

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Wedge Capital Management L L P NC lifted its position in shares of Snap-On by 12.4% during the 2nd quarter. Wedge Capital Management L L P NC now owns 34,335 shares of the company’s stock worth $13,816,000 after buying an additional 3,794 shares during the last quarter. E. Ohman J or Asset Management AB grew its position in Snap-On by 49.6% in the second quarter. E. Ohman J or Asset Management AB now owns 2,110 shares of the company’s stock valued at $849,000 after acquiring an additional 700 shares during the last quarter. Wealthcare Advisory Partners LLC bought a new position in Snap-On in the second quarter valued at about $264,000. Harrell Investment Partners LLC raised its stake in Snap-On by 12.0% during the second quarter. Harrell Investment Partners LLC now owns 2,636 shares of the company’s stock worth $1,061,000 after acquiring an additional 283 shares in the last quarter. Finally, Wynn Capital LLC acquired a new position in Snap-On during the second quarter worth about $215,000. 84.88% of the stock is currently owned by institutional investors.

Key Snap-On News

Here are the key news stories impacting Snap-On this week:

Snap-On Stock Performance

Shares of NYSE SNA opened at $404.76 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.43 and a quick ratio of 2.74. The firm has a market cap of $20.97 billion, a price-to-earnings ratio of 20.64, a P/E/G ratio of 2.84 and a beta of 0.73. The stock’s fifty day moving average price is $389.57 and its two-hundred day moving average price is $378.39. Snap-On has a one year low of $312.78 and a one year high of $419.68.

Snap-On (NYSE:SNAGet Free Report) last posted its earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. The company 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 company’s revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the firm earned $4.72 earnings per share. On average, equities analysts forecast that Snap-On will post 19.67 EPS for the current year.

Snap-On declared that its board has approved a share buyback plan on Thursday, April 30th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 2.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend was Wednesday, May 20th. Snap-On’s payout ratio is 49.77%.

Snap-On Company Profile

(Get Free Report)

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.

See Also

Analyst Recommendations for Snap-On (NYSE:SNA)

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