Snap-on (NYSE:SNA) Given “Outperform” Rating at Barrington Research

Snap-on (NYSE:SNA)‘s stock had its “outperform” rating reiterated by stock analysts at Barrington Research in a note issued to investors on Friday, Benzinga reports. They currently have a $325.00 price target on the stock. Barrington Research’s price objective indicates a potential upside of 14.90% from the company’s previous close.

A number of other brokerages have also weighed in on SNA. Robert W. Baird dropped their price objective on Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a report on Friday, July 12th. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Tigress Financial reiterated a “buy” rating and issued a $336.00 price target on shares of Snap-on in a report on Thursday, July 25th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $315.00.

Snap-on Stock Performance

Shares of NYSE:SNA traded down $3.25 during midday trading on Friday, hitting $282.86. The stock had a trading volume of 66,228 shares, compared to its average volume of 288,334. Snap-on has a 1 year low of $249.84 and a 1 year high of $298.49. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22. The stock has a 50 day moving average price of $276.96 and a two-hundred day moving average price of $276.69. The company has a market capitalization of $14.90 billion, a PE ratio of 14.84, a P/E/G ratio of 1.95 and a beta of 0.98.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the previous year, the company earned $4.89 EPS. The firm’s revenue for the quarter was down 1.0% compared to the same quarter last year. As a group, equities analysts predict that Snap-on will post 18.95 earnings per share for the current fiscal year.

Snap-on declared that its Board of Directors has initiated a stock buyback program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Snap-on

In related news, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snap-on news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the sale, the vice president now directly owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now directly owns 99,244 shares in the company, valued at approximately $27,663,272.56. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is owned by corporate insiders.

Institutional Trading of Snap-on

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. TrinityPoint Wealth LLC boosted its position in shares of Snap-on by 8.0% in the fourth quarter. TrinityPoint Wealth LLC now owns 3,734 shares of the company’s stock worth $1,078,000 after acquiring an additional 276 shares during the last quarter. Norges Bank purchased a new position in shares of Snap-on in the 4th quarter worth $145,665,000. UBS Group AG boosted its holdings in Snap-on by 37.2% in the fourth quarter. UBS Group AG now owns 138,803 shares of the company’s stock valued at $40,092,000 after acquiring an additional 37,667 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Snap-on by 91.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,512 shares of the company’s stock valued at $437,000 after acquiring an additional 723 shares during the period. Finally, Corient Private Wealth LLC grew its position in Snap-on by 54.7% during the fourth quarter. Corient Private Wealth LLC now owns 22,379 shares of the company’s stock valued at $6,464,000 after acquiring an additional 7,915 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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.