Snap-On (SNA) Given Buy Rating at B. Riley

Snap-On (NYSE:SNA)‘s stock had its “buy” rating reaffirmed by equities research analysts at B. Riley in a research note issued on Thursday. They currently have a $205.00 price objective on the stock. B. Riley’s price objective would suggest a potential upside of 17.02% from the company’s current price.

A number of other research firms have also issued reports on SNA. Zacks Investment Research upgraded shares of Snap-On from a “hold” rating to a “buy” rating and set a $193.00 price target on the stock in a report on Wednesday, December 20th. Barrington Research upgraded shares of Snap-On from a “market perform” rating to an “outperform” rating and set a $185.00 price target on the stock in a report on Monday, October 23rd. Jefferies Group restated a “hold” rating and set a $175.00 price target on shares of Snap-On in a report on Friday, November 3rd. Oppenheimer restated a “buy” rating and set a $177.00 price target on shares of Snap-On in a report on Thursday, October 19th. Finally, FBR & Co reiterated a “buy” rating and issued a $205.00 price objective on shares of Snap-On in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the stock. Snap-On has an average rating of “Buy” and a consensus target price of $193.56.

Snap-On (NYSE:SNA) traded down $1.70 during mid-day trading on Thursday, hitting $175.19. 434,700 shares of the stock were exchanged, compared to its average volume of 581,150. Snap-On has a twelve month low of $140.83 and a twelve month high of $181.73. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.75 and a quick ratio of 1.22. The firm has a market capitalization of $9,990.00, a price-to-earnings ratio of 18.01, a P/E/G ratio of 1.35 and a beta of 1.14.

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 Zacks’ consensus estimate of $2.43 by $0.02. Snap-On had a net margin of 15.95% and a return on equity of 20.82%. The business had revenue of $903.80 million for the quarter, compared to analyst estimates of $889.22 million. During the same quarter in the previous year, the business earned $2.22 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. equities research analysts predict that Snap-On will post 10.09 EPS for the current fiscal year.

In other Snap-On news, Chairman Nicholas T. Pinchuk sold 20,680 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The shares were sold at an average price of $174.55, for a total value of $3,609,694.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 3.70% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Acrospire Investment Management LLC grew its position in Snap-On by 700.0% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock worth $126,000 after acquiring an additional 700 shares in the last quarter. San Francisco Sentry Investment Group CA bought a new stake in Snap-On in the second quarter worth approximately $126,000. Amica Retiree Medical Trust bought a new stake in Snap-On in the third quarter worth approximately $165,000. Commonwealth Bank of Australia grew its position in Snap-On by 4.4% in the second quarter. Commonwealth Bank of Australia now owns 1,085 shares of the company’s stock worth $171,000 after acquiring an additional 46 shares in the last quarter. Finally, Rowland & Co. Investment Counsel ADV grew its position in Snap-On by 40.4% in the second quarter. Rowland & Co. Investment Counsel ADV now owns 1,095 shares of the company’s stock worth $174,000 after acquiring an additional 315 shares in the last quarter. 99.40% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Snap-On (NYSE:SNA)

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