Shares of Snap-on Incorporated (NYSE:SNA) have earned an average rating of “Hold” from the eight brokerages that are presently covering the firm, Marketbeat reports. Five analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $182.25.
A number of equities research analysts have recently issued reports on the stock. TheStreet raised shares of Snap-on from a “c+” rating to a “b-” rating in a research note on Friday, January 11th. Bank of America cut shares of Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 price objective for the company. in a research note on Tuesday, April 16th. Zacks Investment Research upgraded shares of Snap-on from a “sell” rating to a “hold” rating in a report on Monday, February 18th. Finally, Robert W. Baird lowered shares of Snap-on from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $186.00 to $160.00 in a report on Wednesday, April 10th.
In other Snap-on news, Director William Dudley Lehman sold 387 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $157.19, for a total value of $60,832.53. Following the completion of the transaction, the director now directly owns 9,996 shares in the company, valued at approximately $1,571,271.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Thomas L. Kassouf sold 18,657 shares of the company’s stock in a transaction on Monday, February 25th. The stock was sold at an average price of $161.24, for a total transaction of $3,008,254.68. Following the completion of the transaction, the senior vice president now owns 3,920 shares of the company’s stock, valued at $632,060.80. The disclosure for this sale can be found here. Insiders have sold a total of 57,327 shares of company stock valued at $9,123,183 over the last quarter. 3.90% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SNA. BlackRock Inc. raised its holdings in Snap-on by 17.9% in the 4th quarter. BlackRock Inc. now owns 4,525,663 shares of the company’s stock worth $657,532,000 after purchasing an additional 687,661 shares in the last quarter. Morgan Stanley raised its holdings in Snap-on by 348.6% in the 3rd quarter. Morgan Stanley now owns 623,240 shares of the company’s stock worth $114,427,000 after purchasing an additional 484,317 shares in the last quarter. Norges Bank bought a new position in Snap-on in the 4th quarter worth $62,430,000. Investec Asset Management LTD raised its holdings in Snap-on by 55.2% in the 4th quarter. Investec Asset Management LTD now owns 1,114,605 shares of the company’s stock worth $161,941,000 after purchasing an additional 396,566 shares in the last quarter. Finally, Federated Investors Inc. PA raised its holdings in Snap-on by 11,813.7% in the 3rd quarter. Federated Investors Inc. PA now owns 333,225 shares of the company’s stock worth $61,180,000 after purchasing an additional 330,428 shares in the last quarter.
Shares of Snap-on stock traded up $10.23 during trading on Tuesday, reaching $168.07. The company’s stock had a trading volume of 2,511,740 shares, compared to its average volume of 699,085. Snap-on has a 52-week low of $135.29 and a 52-week high of $189.46. The stock has a market capitalization of $9.34 billion, a price-to-earnings ratio of 14.23, a price-to-earnings-growth ratio of 1.64 and a beta of 1.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.62 and a current ratio of 2.42.
Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, April 18th. The company reported $3.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.91 by $0.10. Snap-on had a net margin of 18.64% and a return on equity of 21.66%. The company had revenue of $921.70 million during the quarter, compared to analysts’ expectations of $933.13 million. During the same quarter in the prior year, the company earned $2.79 EPS. The firm’s revenue was down 1.5% on a year-over-year basis. On average, equities research analysts forecast that Snap-on will post 12.28 earnings per share for the current fiscal year.
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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