Snap-On Incorporated (NYSE:SNA) Receives $377.33 Average Target Price from Analysts

Snap-On Incorporated (NYSE:SNA) has been given a consensus recommendation of “Moderate Buy” by the seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $377.3333.

Several equities analysts have weighed in on SNA shares. Wall Street Zen lowered shares of Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Roth Mkm restated a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a report on Tuesday, February 10th. Tigress Financial upped their price objective on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a report on Friday, February 27th. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Wednesday, January 21st. Finally, Robert W. Baird set a $375.00 target price on Snap-On in a research note on Friday, February 6th.

Insiders Place Their Bets

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,229 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the completion of the transaction, the chief executive officer owned 846,562 shares of the company’s stock, valued at $324,538,008.32. This trade represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Aldo John Pagliari sold 7,043 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the completion of the sale, the chief financial officer directly owned 117,183 shares in the company, valued at $44,769,765.15. This trade represents a 5.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 39,650 shares of company stock valued at $15,210,959 over the last 90 days. Company insiders own 3.90% of the company’s stock.

Institutional Trading of Snap-On

Several institutional investors have recently added to or reduced their stakes in SNA. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Snap-On in the fourth quarter valued at approximately $25,000. DV Equities LLC purchased a new position in shares of Snap-On during the fourth quarter worth $25,000. GoalVest Advisory LLC acquired a new stake in shares of Snap-On in the fourth quarter valued at $28,000. Vermillion & White Wealth Management Group LLC raised its holdings in shares of Snap-On by 97.9% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock valued at $30,000 after buying an additional 47 shares during the period. Finally, Montag A & Associates Inc. raised its holdings in shares of Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Stock Down 1.0%

SNA stock opened at $357.03 on Monday. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20. The firm has a 50-day moving average of $373.42 and a two-hundred day moving average of $352.40. Snap-On has a 12 month low of $289.81 and a 12 month high of $390.13. The company has a market cap of $18.59 billion, a price-to-earnings ratio of 18.61, a PEG ratio of 2.49 and a beta of 0.78.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the business earned $4.82 earnings per share. As a group, analysts forecast that Snap-On will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a dividend of $2.44 per share. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is presently 50.86%.

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.