StockNews.com Upgrades Snap-on (NYSE:SNA) to “Buy”

Snap-on (NYSE:SNA) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Several other brokerages have also commented on SNA. Tigress Financial upped their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-on in a research note on Thursday, April 17th. Robert W. Baird reduced their price objective on Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a research note on Monday, April 21st. Finally, Longbow Research raised shares of Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research report on Monday, March 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.83.

Snap-on Stock Up 0.7 %

Shares of NYSE SNA opened at $316.87 on Wednesday. The firm’s 50 day moving average price is $323.65 and its 200 day moving average price is $338.81. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The firm has a market cap of $16.57 billion, a P/E ratio of 16.25, a price-to-earnings-growth ratio of 2.21 and a beta of 0.78. Snap-on has a 1 year low of $252.98 and a 1 year high of $373.90.

Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter last year, the company posted $4.91 earnings per share. As a group, sell-side analysts anticipate that Snap-on will post 19.79 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now owns 257 shares in the company, valued at approximately $86,817.17. The trade was a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the sale, the chief executive officer now owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This trade represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 36,011 shares of company stock valued at $12,116,859. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Snap-on

A number of institutional investors have recently made changes to their positions in SNA. Greenleaf Trust increased its stake in shares of Snap-on by 3.1% in the fourth quarter. Greenleaf Trust now owns 1,013 shares of the company’s stock worth $344,000 after buying an additional 30 shares during the last quarter. UMB Bank n.a. grew its holdings in Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock worth $25,000 after acquiring an additional 31 shares in the last quarter. WCM Investment Management LLC increased its position in shares of Snap-on by 4.5% in the 4th quarter. WCM Investment Management LLC now owns 727 shares of the company’s stock worth $247,000 after purchasing an additional 31 shares during the last quarter. New York Life Investment Management LLC raised its stake in shares of Snap-on by 0.4% in the 4th quarter. New York Life Investment Management LLC now owns 7,106 shares of the company’s stock valued at $2,412,000 after purchasing an additional 31 shares in the last quarter. Finally, TrinityPoint Wealth LLC lifted its position in shares of Snap-on by 0.8% during the fourth quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company’s stock worth $1,414,000 after purchasing an additional 33 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

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.