Snap-On (NYSE:SNA) Earns “Outperform” Rating from Barrington Research

Snap-On (NYSE:SNA)‘s stock had its “outperform” rating reiterated by equities researchers at Barrington Research in a report released on Tuesday,Benzinga reports. They presently have a $350.00 price target on the stock. Barrington Research’s target price suggests a potential upside of 11.64% from the company’s previous close.

Other research analysts have also recently issued research reports about the stock. Robert W. Baird reduced their target price on shares of Snap-On from $349.00 to $320.00 and set a “neutral” rating for the company in a report on Monday, April 21st. Longbow Research upgraded shares of Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 price target on the stock in a research report on Monday, March 31st. Finally, Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.83.

Snap-On Trading Up 0.1%

Shares of Snap-On stock opened at $313.50 on Tuesday. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.14 and a quick ratio of 3.18. The firm has a fifty day moving average price of $318.05 and a 200 day moving average price of $327.85. Snap-On has a 1 year low of $266.55 and a 1 year high of $373.90. The stock has a market cap of $16.39 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 2.23 and a beta of 0.76.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-On had a return on equity of 18.60% and a net margin of 21.42%. The business had revenue of $1.14 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business earned $4.91 EPS. Equities research 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 Snap-On stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $326.84, for a total value of $1,814,942.52. Following the sale, the chief financial officer owned 109,560 shares in the company, valued at $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the sale, the director owned 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,815 shares of company stock worth $9,482,532 over the last 90 days. 3.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap-On

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Alpine Bank Wealth Management purchased a new position in Snap-On during the first quarter worth about $25,000. Golden State Wealth Management LLC raised its stake in Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. raised its stake in Snap-On by 248.3% during the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after purchasing an additional 72 shares during the period. Ransom Advisory Ltd purchased a new position in Snap-On during the first quarter worth about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in Snap-On by 52.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after purchasing an additional 38 shares during the period. 84.88% of the stock is currently 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.