Snap-On Incorporated (NYSE:SNA) Given Consensus Rating of “Moderate Buy” by Analysts

Snap-On Incorporated (NYSE:SNA) has received an average recommendation of “Moderate Buy” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $365.00.

A number of analysts have recently issued reports on SNA shares. Tigress Financial upped their target price on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Roth Capital reaffirmed a “buy” rating and set a $385.00 price target on shares of Snap-On in a research note on Friday, October 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, October 8th. Wall Street Zen upgraded Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Finally, Robert W. Baird increased their price target on shares of Snap-On from $355.00 to $365.00 and gave the company a “neutral” rating in a research report on Friday, October 17th.

Snap-On Stock Down 0.3%

SNA stock opened at $349.93 on Wednesday. The company’s 50 day moving average is $342.90 and its 200 day moving average is $332.57. The stock has a market cap of $18.20 billion, a price-to-earnings ratio of 18.35, a price-to-earnings-growth ratio of 2.65 and a beta of 0.78. The company has a current ratio of 4.40, a quick ratio of 3.37 and a debt-to-equity ratio of 0.20. Snap-On has a 1-year low of $289.81 and a 1-year high of $365.78.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 16th. The company reported $4.71 EPS for the quarter, topping analysts’ consensus estimates of $4.59 by $0.12. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.70 EPS. Sell-side analysts predict that Snap-On will post 19.79 EPS for the current fiscal year.

Snap-On Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Friday, November 21st were issued a dividend of $2.44 per share. The ex-dividend date of this dividend was Friday, November 21st. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. This is an increase from Snap-On’s previous quarterly dividend of $2.14. Snap-On’s payout ratio is 51.18%.

Insider Buying and Selling at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 22,607 shares of Snap-On stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $339.15, for a total value of $7,667,164.05. Following the transaction, the chief executive officer owned 826,364 shares in the company, valued at approximately $280,261,350.60. The trade was a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jesus Arregui sold 3,831 shares of the business’s stock in a transaction dated Tuesday, November 25th. The shares were sold at an average price of $337.28, for a total value of $1,292,119.68. Following the completion of the sale, the senior vice president directly owned 2,642 shares of the company’s stock, valued at approximately $891,093.76. This trade represents a 59.18% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 40,036 shares of company stock worth $13,710,988 in the last 90 days. 3.90% of the stock is owned by company insiders.

Institutional Trading of Snap-On

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tobam bought a new position in shares of Snap-On in the second quarter worth approximately $29,000. Ameritas Advisory Services LLC purchased a new stake in Snap-On during the 2nd quarter valued at $30,000. Vermillion & White Wealth Management Group LLC grew its holdings in Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after acquiring an additional 47 shares during the last quarter. Ransom Advisory Ltd purchased a new position in shares of Snap-On in the first quarter valued at about $34,000. Finally, Thurston Springer Miller Herd & Titak Inc. raised its stake in shares of Snap-On by 52.8% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 110 shares of the company’s stock valued at $34,000 after acquiring an additional 38 shares during the last quarter. Institutional investors own 84.88% of the company’s stock.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.