Snap-on Incorporated (NYSE:SNA) – Stock analysts at B. Riley issued their Q1 2018 earnings per share estimates for Snap-on in a research note issued to investors on Monday. B. Riley analyst L. Burke forecasts that the company will post earnings of $2.73 per share for the quarter. B. Riley currently has a “Buy” rating and a $205.00 price target on the stock. B. Riley also issued estimates for Snap-on’s Q2 2018 earnings at $2.92 EPS, Q3 2018 earnings at $2.82 EPS, Q4 2018 earnings at $3.07 EPS, FY2018 earnings at $11.54 EPS and FY2019 earnings at $12.51 EPS.
SNA has been the topic of a number of other research reports. Barrington Research raised 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. Oppenheimer reaffirmed a “buy” rating and set a $177.00 price objective on shares of Snap-on in a research report on Thursday, October 19th. Zacks Investment Research raised Snap-on from a “hold” rating to a “buy” rating and set a $193.00 price objective on the stock in a research report on Wednesday, December 20th. Jefferies Group reaffirmed a “hold” rating and set a $175.00 price objective on shares of Snap-on in a research report on Friday, November 3rd. Finally, Robert W. Baird cut their price objective on Snap-on from $220.00 to $211.00 and set an “outperform” rating on the stock in a research report on Friday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. Snap-on currently has a consensus rating of “Buy” and an average price target of $195.50.
Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 8th. The company reported $2.69 EPS for the quarter, topping analysts’ consensus estimates of $2.66 by $0.03. Snap-on had a return on equity of 20.54% and a net margin of 15.13%. The company had revenue of $974.60 million for the quarter, compared to analysts’ expectations of $940.50 million. During the same period in the prior year, the firm earned $2.47 earnings per share. The firm’s revenue was up 9.5% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of the stock. Carnegie Capital Asset Management LLC increased its holdings in Snap-on by 726.8% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 17,610 shares of the company’s stock valued at $3,011,000 after buying an additional 15,480 shares during the last quarter. Financial Counselors Inc. purchased a new position in Snap-on in the fourth quarter valued at $915,000. Carillon Tower Advisers Inc. purchased a new position in Snap-on in the fourth quarter valued at $5,166,000. SVA Plumb Wealth Management LLC purchased a new position in Snap-on in the fourth quarter valued at $3,156,000. Finally, Standard Life Aberdeen plc increased its holdings in Snap-on by 38.9% in the fourth quarter. Standard Life Aberdeen plc now owns 144,808 shares of the company’s stock valued at $25,240,000 after buying an additional 40,547 shares during the last quarter. 99.00% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Anup R. Banerjee sold 2,091 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $160.11, for a total transaction of $334,790.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 20,680 shares of the company’s stock in a transaction on Thursday, December 28th. The stock was sold at an average price of $174.55, for a total value of $3,609,694.00. The disclosure for this sale can be found here. Insiders have sold 43,838 shares of company stock worth $7,616,330 in the last ninety days. Corporate insiders own 3.70% of the company’s stock.
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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.
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