Snap-On Incorporated (NYSE:SNA) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Snap-On Incorporated (NYSE:SNA) have received an average recommendation of “Moderate Buy” from the seven analysts that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $365.00.

Several research analysts have issued reports on the company. Bank of America increased their price objective on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Barrington Research reiterated an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research report on Wednesday, October 15th. Tigress Financial increased their price objective on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Finally, Roth Capital reiterated a “buy” rating and issued a $385.00 price objective on shares of Snap-On in a research report on Friday.

Insiders Place Their Bets

In other news, CFO Aldo John Pagliari sold 4,731 shares of the firm’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the transaction, the chief financial officer owned 111,667 shares in the company, valued at $36,557,542.46. This trade represents a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm’s stock in a transaction on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the completion of the transaction, the chief executive officer owned 815,219 shares of the company’s stock, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,898 shares of company stock valued at $8,983,203. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SNA. Alpine Bank Wealth Management purchased a new stake in Snap-On during the 1st quarter worth about $25,000. Tobam purchased a new stake in Snap-On during the 2nd quarter worth about $29,000. Ameritas Advisory Services LLC purchased a new stake in Snap-On during the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC increased its position in Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after purchasing an additional 47 shares in the last quarter. Finally, Golden State Wealth Management LLC increased its position in Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of NYSE SNA opened at $345.64 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.40 and a quick ratio of 3.37. The stock has a fifty day moving average price of $333.56 and a 200 day moving average price of $324.01. Snap-On has a 1-year low of $289.81 and a 1-year high of $373.89. The company has a market cap of $17.98 billion, a PE ratio of 18.12, a P/E/G ratio of 2.34 and a beta of 0.78.

Snap-On (NYSE:SNA) last issued its quarterly 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. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm had revenue of $1.19 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same period last year, the company earned $4.70 earnings per share. The company’s revenue for the quarter was up 3.8% on a year-over-year basis. Sell-side analysts forecast that Snap-On will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 19th were given a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 annualized dividend and a yield of 2.5%. Snap-On’s dividend payout ratio is presently 44.89%.

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.