92 Resources Reiterates “Reiterates” Rating for Snap-on (NYSE:SNA)

Snap-on (NYSE:SNA – Get Rating)‘s stock had its “reiterates” rating reaffirmed by 92 Resources in a research report issued on Wednesday, Benzinga reports.

A number of other brokerages have also recently weighed in on SNA. StockNews.com assumed coverage on shares of Snap-on in a research report on Thursday, May 18th. They issued a “buy” rating for the company. Roth Capital raised shares of Snap-on from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th. MKM Partners raised their price objective on shares of Snap-on from $238.00 to $259.00 in a research note on Friday, February 3rd. Bank of America raised their price objective on shares of Snap-on from $230.00 to $240.00 and gave the stock an “underperform” rating in a research note on Friday, April 21st. Finally, Tigress Financial reaffirmed a “buy” rating and issued a $302.00 target price (up from $298.00) on shares of Snap-on in a research note on Thursday, March 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Snap-on has a consensus rating of “Hold” and an average target price of $260.57.

Snap-on Stock Performance

Shares of SNA opened at $255.76 on Wednesday. Snap-on has a 12 month low of $190.08 and a 12 month high of $265.02. The stock has a fifty day moving average price of $248.45 and a 200-day moving average price of $243.23. The company has a current ratio of 3.48, a quick ratio of 2.43 and a debt-to-equity ratio of 0.26. The firm has a market cap of $13.54 billion, a PE ratio of 14.67, a P/E/G ratio of 2.09 and a beta of 1.09.

Snap-on (NYSE:SNA – Get Rating) last announced its quarterly earnings results on Thursday, April 20th. The company reported $4.60 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.46. Snap-on had a return on equity of 21.17% and a net margin of 20.60%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same period last year, the firm earned $4.00 EPS. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts predict that Snap-on will post 17.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 300 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $263.05, for a total transaction of $78,915.00. Following the transaction, the vice president now directly owns 2,042 shares in the company, valued at $537,148.10. The sale was disclosed in a filing with the SEC, which is available through this link. In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,800 shares of the business’s stock in a transaction dated Thursday, March 16th. The stock was sold at an average price of $236.05, for a total transaction of $5,381,940.00. Following the completion of the transaction, the chief executive officer now owns 676,929 shares of the company’s stock, valued at $159,789,090.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 300 shares of the business’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $263.05, for a total value of $78,915.00. Following the transaction, the vice president now directly owns 2,042 shares of the company’s stock, valued at approximately $537,148.10. The disclosure for this sale can be found here. Insiders have sold 56,884 shares of company stock valued at $14,194,715 in the last 90 days. 4.20% of the stock is owned by insiders.

Institutional Trading of Snap-on

Several large investors have recently modified their holdings of SNA. Copeland Capital Management LLC raised its stake in shares of Snap-on by 653.3% during the 4th quarter. Copeland Capital Management LLC now owns 113 shares of the company’s stock worth $25,000 after purchasing an additional 98 shares during the period. Clear Street Markets LLC grew its holdings in shares of Snap-on by 96.3% during the first quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock worth $26,000 after purchasing an additional 52 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in shares of Snap-on by 57.3% during the first quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after purchasing an additional 47 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of Snap-on during the first quarter worth about $29,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. purchased a new stake in Snap-on in the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

About Snap-on

(Get Rating)

Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education.