Snap One (NASDAQ:SNPO) Receives Hold Rating from Truist Financial

Truist Financial reaffirmed their hold rating on shares of Snap One (NASDAQ:SNPO) in a research note issued to investors on Tuesday morning, Benzinga reports. The firm currently has a $10.75 target price on the stock, down from their previous target price of $12.00.

SNPO has been the subject of a number of other research reports. UBS Group cut their price target on shares of Snap One from $14.00 to $12.00 and set a buy rating for the company in a report on Tuesday, February 27th. William Blair downgraded shares of Snap One from an outperform rating to a market perform rating in a report on Monday. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $11.13.

Snap One Stock Performance

Shares of NASDAQ:SNPO opened at $10.54 on Tuesday. The company’s 50 day moving average price is $8.42 and its two-hundred day moving average price is $8.32. Snap One has a 12-month low of $6.70 and a 12-month high of $12.06. The firm has a market cap of $806.73 million, a PE ratio of -37.64 and a beta of 1.27. The company has a quick ratio of 0.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.65.

Snap One (NASDAQ:SNPO) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.02. Snap One had a negative net margin of 2.01% and a positive return on equity of 2.77%. The company had revenue of $264.39 million during the quarter, compared to the consensus estimate of $267.62 million. Equities research analysts predict that Snap One will post 0.38 earnings per share for the current year.

Hedge Funds Weigh In On Snap One

Several institutional investors and hedge funds have recently added to or reduced their stakes in SNPO. Swiss National Bank lifted its stake in Snap One by 7.5% in the 1st quarter. Swiss National Bank now owns 35,900 shares of the company’s stock valued at $530,000 after purchasing an additional 2,500 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Snap One by 41.8% during the first quarter. JPMorgan Chase & Co. now owns 12,268 shares of the company’s stock valued at $181,000 after acquiring an additional 3,618 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Snap One by 19.4% during the first quarter. Bank of New York Mellon Corp now owns 46,982 shares of the company’s stock valued at $693,000 after acquiring an additional 7,646 shares during the last quarter. MetLife Investment Management LLC raised its stake in shares of Snap One by 57.0% during the first quarter. MetLife Investment Management LLC now owns 9,186 shares of the company’s stock valued at $135,000 after acquiring an additional 3,335 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in shares of Snap One during the first quarter valued at $200,000. Institutional investors own 92.67% of the company’s stock.

Snap One Company Profile

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.