Snap-On Incorporated (SNA) Given Consensus Rating of “Hold” by Analysts
Shares of Snap-On Incorporated (NYSE:SNA) have been assigned a consensus rating of “Hold” from the eleven research firms that are presently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $192.00.
Several brokerages have recently commented on SNA. B. Riley restated a “buy” rating on shares of Snap-On in a research report on Wednesday, November 1st. Zacks Investment Research upgraded Snap-On from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Jefferies Group restated a “hold” rating and issued a $175.00 price objective on shares of Snap-On in a research report on Friday, November 3rd. BidaskClub downgraded Snap-On from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Finally, Barrington Research upgraded Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 price objective on the stock in a research report on Monday, October 23rd.
Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Snap-On by 2.8% in the second quarter. Vanguard Group Inc. now owns 5,634,205 shares of the company’s stock worth $890,204,000 after buying an additional 151,800 shares in the last quarter. BlackRock Inc. lifted its position in shares of Snap-On by 0.8% in the second quarter. BlackRock Inc. now owns 3,665,849 shares of the company’s stock worth $579,203,000 after buying an additional 27,641 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Snap-On by 8.9% in the third quarter. JPMorgan Chase & Co. now owns 3,316,671 shares of the company’s stock worth $488,847,000 after buying an additional 270,905 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of Snap-On by 13.0% in the third quarter. Schroder Investment Management Group now owns 1,284,391 shares of the company’s stock worth $189,306,000 after buying an additional 148,037 shares in the last quarter. Finally, Koch Industries Inc. lifted its position in shares of Snap-On by 64,484.7% in the second quarter. Koch Industries Inc. now owns 917,748 shares of the company’s stock worth $912,000 after buying an additional 916,327 shares in the last quarter. Institutional investors own 99.65% of the company’s stock.
Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 19th. The company reported $2.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 business had revenue of $903.80 million during the quarter, compared to analyst estimates of $889.22 million. During the same quarter in the previous year, the company posted $2.22 earnings per share. Snap-On’s revenue for the quarter was up 8.4% on a year-over-year basis. equities research analysts expect that Snap-On will post 10.09 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 17th will be given a $0.82 dividend. This is an increase from Snap-On’s previous quarterly dividend of $0.71. This represents a $3.28 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Thursday, November 16th. Snap-On’s payout ratio is currently 33.71%.
Snap-On announced that its board has approved a share repurchase program on Monday, August 7th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.
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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