Snap-on (NYSE:SNA) Stock Rating Upgraded by StockNews.com

Snap-on (NYSE:SNA) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday.

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

Snap-on Stock Up 0.8%

Shares of SNA opened at $327.79 on Friday. The business’s fifty day moving average price is $322.53 and its two-hundred day moving average price is $338.75. The firm has a market capitalization of $17.14 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 2.21 and a beta of 0.78. Snap-on has a 52 week low of $252.98 and a 52 week high of $373.90. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). Snap-on had a return on equity of 19.20% and a net margin of 21.71%. The company had revenue of $1.14 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the firm earned $4.91 earnings per share. On average, analysts predict that Snap-on will post 19.79 earnings per share for the current year.

Insider Activity

In other news, CFO Aldo John Pagliari sold 5,553 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the sale, the chief financial officer now owns 109,560 shares in the company, valued at $35,808,590.40. This represents a 4.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 35,113 shares of company stock worth $11,752,590 in the last quarter. Corporate insiders own 3.90% of the company’s stock.

Institutional Trading of Snap-on

Large investors have recently added to or reduced their stakes in the company. Alpine Bank Wealth Management acquired a new stake in Snap-on in the 1st quarter valued at about $25,000. UMB Bank n.a. lifted its position in shares of Snap-on by 70.5% in the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Snap-on during the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Snap-on during the 4th quarter worth approximately $28,000. Finally, Golden State Wealth Management LLC increased its holdings in shares of Snap-on by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after acquiring an additional 80 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

About Snap-on

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.