Snap-on’s (SNA) “Outperform” Rating Reiterated at Barrington Research

Snap-on (NYSE:SNA)‘s stock had its “outperform” rating reiterated by stock analysts at Barrington Research in a report issued on Friday, Benzinga reports. They presently have a $325.00 price target on the stock. Barrington Research’s target price would suggest a potential upside of 14.90% from the stock’s previous close.

Several other analysts also recently issued reports on SNA. Robert W. Baird lowered their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Roth Mkm restated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Tigress Financial reaffirmed a “buy” rating and set a $336.00 price target on shares of Snap-on in a research note on Thursday, July 25th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $315.00.

Snap-on Trading Down 1.1 %

Shares of SNA stock traded down $3.25 during mid-day trading on Friday, reaching $282.86. The company’s stock had a trading volume of 66,228 shares, compared to its average volume of 288,334. The company’s 50 day simple moving average is $276.96 and its 200-day simple moving average is $276.69. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. Snap-on has a 12-month low of $249.84 and a 12-month high of $298.49. The firm has a market capitalization of $14.90 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period last year, the company posted $4.89 earnings per share. The firm’s revenue was down 1.0% compared to the same quarter last year. On average, research analysts predict that Snap-on will post 18.95 EPS for the current fiscal year.

Snap-on announced that its board has initiated a stock repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the transaction, the chief executive officer now owns 759,019 shares in the company, valued at approximately $204,138,160.05. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the sale, the chief financial officer now owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The disclosure for this sale can be found here. Insiders have sold 29,804 shares of company stock valued at $8,077,390 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Earnest Partners LLC grew its holdings in shares of Snap-on by 1.4% during the second quarter. Earnest Partners LLC now owns 942,743 shares of the company’s stock valued at $246,424,000 after purchasing an additional 13,033 shares during the last quarter. Nordea Investment Management AB boosted its position in Snap-on by 3.2% during the 1st quarter. Nordea Investment Management AB now owns 891,994 shares of the company’s stock valued at $265,217,000 after purchasing an additional 27,429 shares during the period. Pacer Advisors Inc. grew its stake in Snap-on by 51.2% during the 2nd quarter. Pacer Advisors Inc. now owns 829,471 shares of the company’s stock worth $216,815,000 after buying an additional 280,997 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Snap-on by 8.7% in the second quarter. Dimensional Fund Advisors LP now owns 817,536 shares of the company’s stock worth $213,686,000 after buying an additional 65,485 shares during the period. Finally, Envestnet Asset Management Inc. lifted its stake in Snap-on by 2.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 755,445 shares of the company’s stock valued at $218,203,000 after buying an additional 16,972 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

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.