JPMorgan Chase & Co. Reiterates “Neutral” Rating for Snap One (NASDAQ:SNPO)

Snap One (NASDAQ:SNPO)‘s stock had its “neutral” rating reiterated by equities researchers at JPMorgan Chase & Co. in a report issued on Tuesday, Benzinga reports. They currently have a $10.75 price target on the stock, down from their previous price target of $11.00. JPMorgan Chase & Co.‘s target price points to a potential upside of 1.51% from the company’s previous close.

Several other equities research analysts have also recently issued reports on SNPO. Truist Financial reaffirmed a “hold” rating and set a $10.75 price objective (down from $12.00) on shares of Snap One in a research report on Tuesday. UBS Group reduced their price target on shares of Snap One from $14.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, February 27th. Finally, William Blair cut shares of Snap One from an “outperform” rating to a “market perform” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $11.05.

Snap One Stock Up 0.5 %

Snap One stock opened at $10.59 on Tuesday. Snap One has a fifty-two week low of $6.70 and a fifty-two week high of $12.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.79 and a current ratio of 2.40. The firm has a 50 day moving average price of $8.47 and a 200 day moving average price of $8.33. The company has a market capitalization of $810.52 million, a PE ratio of -37.82 and a beta of 1.27.

Snap One (NASDAQ:SNPO) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Snap One had a negative net margin of 2.01% and a positive return on equity of 2.77%. The company had revenue of $264.39 million during the quarter, compared to analysts’ expectations of $267.62 million. Research analysts expect that Snap One will post 0.38 earnings per share for the current year.

Institutional Investors Weigh In On Snap One

A number of hedge funds and other institutional investors have recently modified their holdings of SNPO. Swiss National Bank lifted its position in shares of Snap One by 7.5% during the 1st quarter. Swiss National Bank now owns 35,900 shares of the company’s stock valued at $530,000 after acquiring an additional 2,500 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Snap One by 41.8% during the 1st quarter. JPMorgan Chase & Co. now owns 12,268 shares of the company’s stock worth $181,000 after purchasing an additional 3,618 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Snap One by 19.4% during the 1st quarter. Bank of New York Mellon Corp now owns 46,982 shares of the company’s stock worth $693,000 after purchasing an additional 7,646 shares in the last quarter. MetLife Investment Management LLC increased its stake in shares of Snap One by 57.0% during the 1st quarter. MetLife Investment Management LLC now owns 9,186 shares of the company’s stock worth $135,000 after purchasing an additional 3,335 shares in the last quarter. Finally, Rhumbline Advisers purchased a new position in shares of Snap One during the 1st quarter worth approximately $200,000. 92.67% of the stock is currently owned by institutional investors and hedge funds.

About Snap One

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.