Snap-On (NYSE:SNA) Price Target Raised to $445.00

Snap-On (NYSE:SNA) had its price objective raised by Tigress Financial from $405.00 to $445.00 in a report published on Friday morning,Benzinga reports. Tigress Financial currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on SNA. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Robert W. Baird set a $375.00 price objective on Snap-On in a report on Friday, February 6th. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Finally, Roth Mkm reissued a “buy” rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and a consensus price target of $377.33.

Snap-On Price Performance

Shares of SNA opened at $384.95 on Friday. The company’s 50-day moving average is $367.79 and its 200-day moving average is $348.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. The firm has a market capitalization of $19.98 billion, a PE ratio of 20.06, a PEG ratio of 2.66 and a beta of 0.78. Snap-On has a fifty-two week low of $289.81 and a fifty-two week high of $390.13.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, February 5th. The company reported $4.94 EPS for the quarter, topping the consensus estimate of $4.86 by $0.08. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. Snap-On’s revenue was up 2.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.82 EPS. Equities analysts forecast that Snap-On will post 19.79 EPS for the current year.

Snap-On Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th will be paid a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, February 24th. Snap-On’s payout ratio is 50.86%.

Insider Buying and Selling at Snap-On

In related news, VP June C. Lemerand sold 1,378 shares of the stock in a transaction that occurred on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total transaction of $534,071.46. Following the sale, the vice president owned 2,913 shares in the company, valued at approximately $1,128,991.41. This trade represents a 32.11% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 7,043 shares of Snap-On stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total value of $2,690,778.15. Following the completion of the transaction, the chief financial officer owned 117,183 shares in the company, valued at approximately $44,769,765.15. The trade was a 5.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 75,855 shares of company stock valued at $27,629,827 over the last three months. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Snap-On

Several hedge funds have recently added to or reduced their stakes in SNA. Vanguard Group Inc. increased its position in Snap-On by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock valued at $2,248,683,000 after purchasing an additional 31,073 shares during the period. State Street Corp lifted its position in shares of Snap-On by 1.3% in the 4th quarter. State Street Corp now owns 2,272,041 shares of the company’s stock worth $782,945,000 after purchasing an additional 28,071 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Snap-On by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock valued at $693,306,000 after purchasing an additional 39,765 shares during the last quarter. First Trust Advisors LP increased its position in shares of Snap-On by 2.7% during the fourth quarter. First Trust Advisors LP now owns 1,967,608 shares of the company’s stock worth $678,038,000 after buying an additional 51,037 shares during the period. Finally, Nordea Investment Management AB increased its position in shares of Snap-On by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock worth $454,206,000 after buying an additional 51,486 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On Company Profile

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.