Robert W. Baird Lowers Snap-on (NYSE:SNA) Price Target to $320.00

Snap-on (NYSE:SNA) had its price objective lowered by stock analysts at Robert W. Baird from $349.00 to $320.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Robert W. Baird’s price objective would suggest a potential upside of 4.86% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. StockNews.com downgraded Snap-on from a “buy” rating to a “hold” rating in a research report on Friday. Barrington Research reiterated an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research report on Thursday. Longbow Research upgraded Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a report on Monday, March 31st. Finally, Tigress Financial boosted their target price on Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $350.83.

Snap-on Stock Down 8.1 %

Shares of NYSE SNA opened at $305.16 on Monday. Snap-on has a 1 year low of $252.98 and a 1 year high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company has a market cap of $16.00 billion, a P/E ratio of 15.65, a PEG ratio of 2.21 and a beta of 0.84. The firm has a 50-day simple moving average of $331.66 and a two-hundred day simple moving average of $338.35.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($0.30). The company 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 in the prior year, the company earned $4.91 EPS. Research analysts anticipate that Snap-on will post 19.79 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. This represents a 2.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Aldo John Pagliari sold 6,860 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the transaction, the chief financial officer now directly owns 107,096 shares of the company’s stock, valued at $36,310,898.80. This trade represents a 6.02 % decrease in their ownership of the stock. 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. Insiders own 3.90% of the company’s stock.

Institutional Trading of Snap-on

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Snap-on by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 6,404,599 shares of the company’s stock worth $2,174,233,000 after purchasing an additional 19,328 shares during the last quarter. First Trust Advisors LP grew its position in Snap-on by 29.2% in the fourth quarter. First Trust Advisors LP now owns 1,819,403 shares of the company’s stock valued at $617,651,000 after acquiring an additional 411,317 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Snap-on by 4.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,806,278 shares of the company’s stock worth $613,195,000 after buying an additional 77,486 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Snap-on by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company’s stock valued at $556,022,000 after buying an additional 27,700 shares during the last quarter. Finally, Nordea Investment Management AB lifted its holdings in Snap-on by 12.8% during the 4th quarter. Nordea Investment Management AB now owns 1,128,317 shares of the company’s stock worth $384,813,000 after buying an additional 127,859 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

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.