Jefferies Group LLC reiterated their hold rating on shares of Snap-On Incorporated (NYSE:SNA) in a report published on Friday, November 3rd. They currently have a $175.00 price objective on the stock.
Several other brokerages have also recently issued reports on SNA. FBR & Co set a $205.00 target price on shares of Snap-On and gave the company a buy rating in a report on Friday, July 21st. Oppenheimer Holdings, Inc. reiterated a buy rating and issued a $177.00 price target on shares of Snap-On in a research report on Thursday, October 19th. Zacks Investment Research upgraded shares of Snap-On from a sell rating to a hold rating in a research report on Monday, October 9th. Longbow Research downgraded shares of Snap-On from a buy rating to a neutral rating in a research report on Monday, August 21st. Finally, Robert W. Baird reiterated an outperform rating and issued a $197.00 price target on shares of Snap-On in a research report on Wednesday, August 2nd. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $192.00.
Shares of Snap-On (NYSE SNA) traded up $0.01 on Friday, reaching $156.69. 390,300 shares of the company traded hands, compared to its average volume of 620,673. Snap-On has a 1 year low of $140.83 and a 1 year high of $181.73. The stock has a market cap of $8,931.89, a P/E ratio of 15.81, a P/E/G ratio of 1.46 and a beta of 1.12. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.22 and a current ratio of 1.75.
Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 19th. The company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.43 by $0.02. Snap-On had a net margin of 15.95% and a return on equity of 20.82%. The company had revenue of $903.80 million during the quarter, compared to analysts’ expectations of $889.22 million. During the same quarter in the previous year, the business posted $2.22 EPS. The firm’s revenue was up 8.4% on a year-over-year basis. research analysts predict that Snap-On will post 10.09 earnings per share for the current year.
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The business also recently declared a quarterly dividend, which will be paid on Friday, December 8th. Stockholders of record on Friday, November 17th will be issued a $0.82 dividend. This represents a $3.28 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date is Thursday, November 16th. This is an increase from Snap-On’s previous quarterly dividend of $0.71. Snap-On’s dividend payout ratio (DPR) is currently 29.13%.
Snap-On announced that its Board of Directors has approved a share buyback plan on Monday, August 7th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Stonebridge Capital Advisors LLC grew its stake in Snap-On by 4.6% in the 3rd quarter. Stonebridge Capital Advisors LLC now owns 25,901 shares of the company’s stock valued at $3,860,000 after acquiring an additional 1,150 shares during the last quarter. Neuberger Berman Group LLC acquired a new stake in Snap-On in the 3rd quarter valued at about $249,000. Walthausen & Co. LLC grew its stake in Snap-On by 17.4% in the 3rd quarter. Walthausen & Co. LLC now owns 42,340 shares of the company’s stock valued at $6,309,000 after acquiring an additional 6,270 shares during the last quarter. California Public Employees Retirement System grew its stake in Snap-On by 2.6% in the 3rd quarter. California Public Employees Retirement System now owns 139,858 shares of the company’s stock valued at $20,840,000 after acquiring an additional 3,558 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in Snap-On by 9.4% in the 3rd quarter. Janney Montgomery Scott LLC now owns 64,448 shares of the company’s stock valued at $9,603,000 after acquiring an additional 5,516 shares during the last quarter. 93.81% of the stock is currently owned by hedge funds and other institutional investors.
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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