Brokerages Set Snap-On Incorporated (NYSE:SNA) Price Target at $365.00

Snap-On Incorporated (NYSE:SNA) has earned a consensus recommendation of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $365.00.

Several analysts recently weighed in on SNA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, October 8th. Barrington Research restated an “outperform” rating and set a $350.00 price target on shares of Snap-On in a research report on Wednesday, October 15th. Wall Street Zen raised Snap-On from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Robert W. Baird increased their target price on Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research note on Friday, October 17th. Finally, Roth Capital restated a “buy” rating and set a $385.00 target price on shares of Snap-On in a report on Friday, October 17th.

Snap-On Stock Up 0.1%

Shares of SNA opened at $347.59 on Friday. The company’s 50-day moving average price is $339.71 and its 200 day moving average price is $329.20. Snap-On has a 12-month low of $289.81 and a 12-month high of $365.78. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. The firm has a market cap of $18.08 billion, a P/E ratio of 18.23, a price-to-earnings-growth ratio of 2.62 and a beta of 0.78.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping the consensus estimate of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. Snap-On’s revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $4.70 earnings per share. On average, sell-side analysts forecast that Snap-On will post 19.79 earnings per share for the current year.

Snap-On Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be paid a $2.44 dividend. The ex-dividend date of this dividend is Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. Snap-On’s payout ratio is 51.18%.

Insider Buying and Selling at Snap-On

In related news, VP Richard Thomas Miller sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $348.27, for a total transaction of $696,540.00. Following the sale, the vice president directly owned 4,158 shares of the company’s stock, valued at $1,448,106.66. This represents a 32.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the completion of the transaction, the chief executive officer directly owned 826,364 shares of the company’s stock, valued at $280,261,350.60. This represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 33,257 shares of company stock valued at $11,323,424 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Snap-On

Several institutional investors have recently modified their holdings of SNA. Tobam purchased a new position in Snap-On in the second quarter valued at $29,000. Ameritas Advisory Services LLC acquired a new position in shares of Snap-On during the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC increased its holdings in shares of Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after acquiring an additional 47 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Snap-On in the 1st quarter valued at about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its position in shares of Snap-On by 52.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock worth $34,000 after acquiring an additional 38 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

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.