Truist Financial Reiterates Hold Rating for Snap One (NASDAQ:SNPO)

Snap One (NASDAQ:SNPO)‘s stock had its “hold” rating reaffirmed by equities researchers at Truist Financial in a report released on Tuesday, Benzinga reports. They currently have a $10.75 target price on the stock, down from their previous target price of $12.00. Truist Financial’s price target would suggest a potential upside of 1.51% from the company’s previous close.

A number of other brokerages have also issued reports on SNPO. William Blair lowered shares of Snap One from an “outperform” rating to a “market perform” rating in a research report on Monday. UBS Group reduced their price objective on shares of Snap One from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $11.05.

Snap One Trading Up 0.5 %

SNPO opened at $10.59 on Tuesday. The stock has a market capitalization of $810.52 million, a PE ratio of -37.82 and a beta of 1.27. The firm’s fifty day moving average price is $8.47 and its 200 day moving average price is $8.33. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.40 and a quick ratio of 0.79. Snap One has a 12-month low of $6.70 and a 12-month high of $12.06.

Snap One (NASDAQ:SNPO) last issued its earnings results on Thursday, March 7th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. The company had revenue of $264.39 million for the quarter, compared to analysts’ expectations of $267.62 million. Snap One had a negative net margin of 2.01% and a positive return on equity of 2.77%. As a group, research analysts expect that Snap One will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Snap One

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Snap One by 29.6% during the 1st quarter. Vanguard Group Inc. now owns 895,348 shares of the company’s stock valued at $13,206,000 after purchasing an additional 204,692 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Snap One by 20.8% during the 1st quarter. BlackRock Inc. now owns 900,656 shares of the company’s stock valued at $13,283,000 after purchasing an additional 154,841 shares in the last quarter. Citadel Advisors LLC bought a new stake in Snap One in the 2nd quarter valued at approximately $475,000. Credit Suisse AG bought a new stake in Snap One in the 2nd quarter valued at approximately $357,000. Finally, State Street Corp lifted its stake in Snap One by 8.4% in the 1st quarter. State Street Corp now owns 381,258 shares of the company’s stock valued at $5,624,000 after acquiring an additional 29,596 shares in the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

Snap One Company Profile

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.