Snap-on (NYSE:SNA) PT Raised to $280.00

Snap-on (NYSE:SNA) had its price target lifted by research analysts at Bank of America from $255.00 to $280.00 in a report issued on Friday, Benzinga reports. The brokerage presently has an “underperform” rating on the stock. Bank of America‘s price objective would suggest a potential downside of 14.13% from the company’s current price.

A number of other research analysts have also recently issued reports on SNA. Robert W. Baird reduced their price objective on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a report on Friday, July 12th. Tigress Financial reiterated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research note on Thursday, July 25th. Roth Mkm reissued a “buy” rating and issued a $324.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. Finally, Barrington Research raised their target price on Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $327.40.

Snap-on Stock Down 0.5 %

SNA stock opened at $326.09 on Friday. The stock’s 50 day simple moving average is $284.18 and its 200 day simple moving average is $276.78. The company has a market cap of $17.19 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 2.06 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on has a fifty-two week low of $249.84 and a fifty-two week high of $330.51.

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

Snap-on announced that its Board of Directors has approved a share buyback plan on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to repurchase up to 3.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Insider Activity at Snap-on

In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total value of $1,246,804.02. Following the transaction, the chief financial officer now owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Snap-on news, CFO Aldo John Pagliari sold 4,473 shares of Snap-on stock in a transaction dated 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 sale, the chief financial officer now owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Iain Boyd sold 6,044 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the transaction, the vice president now directly owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,848 shares of company stock valued at $9,884,486. 4.10% of the stock is owned by insiders.

Institutional Trading of Snap-on

Several hedge funds have recently made changes to their positions in SNA. Opal Wealth Advisors LLC purchased a new stake in Snap-on in the 2nd quarter worth about $30,000. Innealta Capital LLC purchased a new position in shares of Snap-on in the second quarter worth about $32,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Snap-on by 53.0% in the third quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock worth $37,000 after purchasing an additional 44 shares in the last quarter. Quarry LP lifted its stake in shares of Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after buying an additional 115 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in Snap-on by 529.0% in the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after buying an additional 164 shares during the period. 84.88% of the stock is currently owned by 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.