Snap-on’s (SNA) “Buy” Rating Reaffirmed at Roth Mkm

Roth Mkm restated their buy rating on shares of Snap-on (NYSE:SNA) in a research note released on Thursday morning, Benzinga reports. They currently have a $324.00 price target on the stock.

Other research analysts have also issued research reports about the stock. Barrington Research reissued an outperform rating and set a $325.00 target price on shares of Snap-on in a research report on Monday. Tigress Financial reiterated a buy rating and issued a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of Hold and an average target price of $306.00.

Snap-on Stock Performance

Shares of NYSE SNA opened at $261.76 on Thursday. The business’s 50-day simple moving average is $283.65 and its 200-day simple moving average is $278.16. Snap-on has a 52 week low of $239.08 and a 52 week high of $298.49. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.88. The firm has a market cap of $13.83 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 2.03 and a beta of 0.99.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 8th. The company reported $4.75 EPS for the quarter, beating the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the company posted $4.42 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. As a group, equities research analysts expect that Snap-on will post 19.22 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s dividend payout ratio is currently 39.68%.

Insider Buying and Selling

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Anup R. Banerjee sold 12,397 shares of Snap-on stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $283.13, for a total transaction of $3,509,962.61. Following the sale, the senior vice president now owns 11,420 shares in the company, valued at $3,233,344.60. The disclosure for this sale can be found here. Insiders have sold a total of 47,368 shares of company stock valued at $13,399,449 over the last three months. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snap-on

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Confluence Investment Management LLC acquired a new position in Snap-on during the first quarter worth $173,451,000. Norges Bank bought a new stake in shares of Snap-on in the 4th quarter worth about $145,665,000. Nordea Investment Management AB increased its position in shares of Snap-on by 52.8% during the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after purchasing an additional 298,727 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Snap-on by 7,194.3% during the 1st quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock worth $49,551,000 after purchasing an additional 237,843 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its holdings in Snap-on by 25.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock valued at $188,355,000 after purchasing an additional 147,997 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

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.