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

Snap-On Incorporated (NYSE:SNA) has earned an average rating of “Moderate Buy” from the seven ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $387.6667.

A number of research firms have recently weighed in on SNA. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th. Roth Mkm reissued a “buy” rating and issued a $431.00 price objective on shares of Snap-On in a research report on Friday, April 24th. Tigress Financial raised their target price on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research note on Friday, February 27th. Barclays began coverage on Snap-On in a research note on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price for the company. Finally, Robert W. Baird raised their target price on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th.

Insider Transactions at Snap-On

In related news, VP Richard Thomas Miller sold 427 shares of the firm’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $389.55, for a total value of $166,337.85. Following the completion of the transaction, the vice president owned 4,527 shares in the company, valued at $1,763,492.85. This trade represents a 8.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at 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 completion of the transaction, the chief financial officer owned 119,488 shares of the company’s stock, valued at $43,874,798.72. This trade represents a 4.56% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 35,117 shares of company stock worth $13,192,082. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Snap-On

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Auto Owners Insurance Co raised its stake in shares of Snap-On by 34,360.0% during the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock valued at $353,279,000 after buying an additional 1,022,210 shares during the last quarter. Norges Bank purchased a new position in shares of Snap-On during the 4th quarter valued at about $210,814,000. Victory Capital Management Inc. raised its stake in shares of Snap-On by 346.0% during the 3rd quarter. Victory Capital Management Inc. now owns 279,484 shares of the company’s stock valued at $96,850,000 after buying an additional 216,813 shares during the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in shares of Snap-On during the 4th quarter valued at about $69,751,000. Finally, UBS Group AG raised its stake in shares of Snap-On by 30.7% during the 4th quarter. UBS Group AG now owns 617,620 shares of the company’s stock valued at $212,832,000 after buying an additional 144,926 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Stock Down 1.1%

Snap-On stock opened at $386.56 on Wednesday. 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 has a market capitalization of $20.02 billion, a price-to-earnings ratio of 19.96, a PEG ratio of 2.75 and a beta of 0.73. Snap-On has a 1-year low of $305.19 and a 1-year high of $400.88. The business has a fifty day moving average price of $376.87 and a 200-day moving average price of $369.63.

Snap-On (NYSE:SNA) last posted its quarterly earnings data 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 business 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 firm’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period in the previous year, the business earned $4.51 EPS. Equities research analysts forecast that Snap-On will post 19.7 EPS for the current fiscal year.

Snap-On Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $2.44 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.5%. Snap-On’s dividend payout ratio (DPR) is 50.39%.

Snap-On declared that its Board of Directors has initiated a share buyback program on Thursday, April 30th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 2.6% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.