Snap-On Incorporated (NYSE:SNA) Receives Average Rating of “Moderate Buy” from Brokerages

Snap-On Incorporated (NYSE:SNA) has been assigned a consensus rating of “Moderate Buy” from the seven ratings firms that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $387.6667.

A number of brokerages have commented on SNA. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Barclays began coverage on Snap-On in a report on Thursday. They set an “overweight” rating and a $420.00 target price on the stock. Roth Mkm reiterated a “buy” rating and set a $431.00 target price on shares of Snap-On in a report on Friday, April 24th. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Finally, Robert W. Baird raised their price objective on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a report on Friday, April 24th.

Snap-On Stock Performance

SNA opened at $371.75 on Friday. The stock has a market cap of $19.26 billion, a P/E ratio of 19.19, a P/E/G ratio of 2.63 and a beta of 0.75. The company has a debt-to-equity ratio of 0.15, a current ratio of 3.53 and a quick ratio of 2.74. The stock’s 50 day simple moving average is $371.30 and its 200 day simple moving average is $364.00. Snap-On has a 1-year low of $301.82 and a 1-year high of $400.88.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.51 EPS. As a group, equities analysts anticipate that Snap-On will post 19.7 EPS for the current fiscal year.

Snap-On announced that its board has initiated a stock repurchase program on Thursday, April 30th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to buy up to 2.6% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its shares are undervalued.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $2.44 per share. The ex-dividend date is Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.6%. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Insider Buying and Selling at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the sale, the chief executive officer owned 856,918 shares in the company, valued at $322,004,076.86. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo John Pagliari sold 5,713 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $367.19, for a total value of $2,097,756.47. Following the sale, the chief financial officer owned 119,488 shares in the company, valued at $43,874,798.72. This trade represents a 4.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Snap-On in the 4th quarter worth $25,000. DV Equities LLC purchased a new position in shares of Snap-On in the 4th quarter worth $25,000. Western Wealth Management LLC purchased a new position in shares of Snap-On in the 1st quarter worth $29,000. GoalVest Advisory LLC purchased a new position in shares of Snap-On in the 4th quarter worth $28,000. Finally, Montag A & Associates Inc. raised its position 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 worth $33,000 after buying an additional 73 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

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.