Snap-On’s (SNA) “Hold” Rating Reiterated at Jefferies Group LLC
Snap-On Incorporated (NYSE:SNA)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Group LLC in a research report issued on Friday. They currently have a $175.00 price target on the stock. Jefferies Group LLC’s price target suggests a potential upside of 10.61% from the company’s previous close.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. BidaskClub raised Snap-On from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. FBR & Co set a $205.00 price target on Snap-On and gave the stock a “buy” rating in a report on Friday, July 21st. Barrington Research raised Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 price target for the company in a report on Monday, October 23rd. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $177.00 price target on shares of Snap-On in a report on Thursday, October 19th. Two analysts have rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the stock. Snap-On presently has an average rating of “Hold” and a consensus target price of $192.00.
Shares of Snap-On (NYSE SNA) traded down $0.28 during mid-day trading on Friday, reaching $158.22. The company had a trading volume of 455,138 shares, compared to its average volume of 779,633. The firm has a market capitalization of $9,019.65, a PE ratio of 15.97, a PEG ratio of 1.47 and a beta of 1.12. Snap-On has a 52-week low of $140.83 and a 52-week high of $181.73. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.22 and a current ratio of 1.75.
Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.43 by $0.02. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The firm had revenue of $903.80 million during the quarter, compared to analysts’ expectations of $889.22 million. During the same period in the previous year, the firm posted $2.22 earnings per share. Snap-On’s revenue was up 8.4% on a year-over-year basis. sell-side analysts anticipate that Snap-On will post 10.09 EPS for the current year.
Snap-On announced that its Board of Directors has approved a share buyback plan on Monday, August 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.
Several large investors have recently made changes to their positions in the company. Cadence Capital Management LLC grew its position in shares of Snap-On by 0.4% in the second quarter. Cadence Capital Management LLC now owns 1,891 shares of the company’s stock valued at $299,000 after purchasing an additional 8 shares during the period. Doyle Wealth Management grew its position in shares of Snap-On by 0.3% in the second quarter. Doyle Wealth Management now owns 3,996 shares of the company’s stock valued at $631,000 after purchasing an additional 13 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Snap-On by 1.7% in the second quarter. Ameritas Investment Partners Inc. now owns 1,411 shares of the company’s stock valued at $222,000 after purchasing an additional 23 shares during the period. Commonwealth Bank of Australia grew its position in shares of Snap-On by 4.4% in the second quarter. Commonwealth Bank of Australia now owns 1,085 shares of the company’s stock valued at $171,000 after purchasing an additional 46 shares during the period. Finally, Synovus Financial Corp grew its position in shares of Snap-On by 3.5% in the second quarter. Synovus Financial Corp now owns 1,548 shares of the company’s stock valued at $247,000 after purchasing an additional 53 shares during the period. 94.96% of the stock is owned by institutional investors and hedge funds.
Snap-On Company Profile
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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