Snap-On Receives “Neutral” Rating from Zacks (SNA)
Snap-On (NYSE:SNA)‘s stock had its “neutral” rating reiterated by Zacks in a report issued on Monday, Analyst Ratings Net reports. They currently have a $105.00 price objective on the stock. Zacks‘ price target suggests a potential upside of 4.99% from the stock’s previous close.
Zacks‘ analyst wrote, “We are reaffirming our Neutral recommendation on Snap-on Incorporated with a price target of $105. Third quarter 2013 earnings improved 13.5% year over year. Sales for the Snap-on Tools Group were up 8.1% in the reported quarter. The company witnessed growth across three of its four businesses during the quarter. The encouraging quarterly performance was primarily driven by the company’s ongoing strategic investments to strengthen its mobile tool distribution network, proliferation in the vehicle repair garage, expansion of critical industries and expansion in the emerging markets. The company’s recent acquisitions and increased sales in Original Equipment Manufacturer (OEM) business are also aiding the growth momentum. However, the prevailing uncertainty in U.S. government is proving to be a headwind for the company and is limiting the future visibility of the company.”
Snap-On (NYSE:SNA) traded down 1.30% during mid-day trading on Monday, hitting $98.71. The stock had a trading volume of 183,568 shares. Snap-On has a 52-week low of $76.60 and a 52-week high of $109.74. The stock’s 50-day moving average is $106.8 and its 200-day moving average is $100.9. The company has a market cap of $5.740 billion and a price-to-earnings ratio of 17.37.
Snap-on Incorporated (NYSE:SNA) is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users.
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