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

Snap-On Incorporated (NYSE:SNA) has been assigned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $408.20.

SNA has been the subject of several research reports. Roth Capital reissued a “buy” rating and issued a $431.00 target price on shares of Snap-On in a research report on Friday, April 24th. Robert W. Baird lifted their price target on Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Monday, April 20th. Finally, Barclays started coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company.

Snap-On Stock Down 1.0%

Shares of NYSE SNA opened at $411.01 on Friday. The firm has a fifty day simple moving average of $385.83 and a two-hundred day simple moving average of $376.45. Snap-On has a 12 month low of $312.78 and a 12 month high of $419.68. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $21.29 billion, a PE ratio of 21.22, a price-to-earnings-growth ratio of 2.89 and a beta of 0.73.

Snap-On (NYSE:SNA) last announced its 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 company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.19 billion. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.51 EPS. Equities analysts expect that Snap-On will post 19.7 earnings per share for the current year.

Snap-On declared that its Board of Directors has initiated a stock buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to repurchase up to 2.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.

Snap-On Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were paid a $2.44 dividend. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

Insider Buying and Selling at Snap-On

In other Snap-On news, SVP Jesus Arregui sold 4,251 shares of the company’s stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $383.92, for a total value of $1,632,043.92. Following the sale, the senior vice president owned 4,439 shares in the company, valued at approximately $1,704,220.88. This represents a 48.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $375.77, for a total transaction of $8,791,514.92. Following the transaction, the chief executive officer directly owned 856,918 shares of the company’s stock, valued at $322,004,076.86. This represents a 2.66% 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. In the last 90 days, insiders sold 37,117 shares of company stock valued at $14,003,922. Insiders own 3.80% of the company’s stock.

Institutional Trading of Snap-On

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in Snap-On during the 4th quarter valued at approximately $25,000. DV Equities LLC bought a new stake in Snap-On in the fourth quarter worth $25,000. Western Wealth Management LLC bought a new stake in Snap-On in the first quarter worth $29,000. GoalVest Advisory LLC purchased a new stake in shares of Snap-On in the fourth quarter worth $28,000. Finally, Montag A & Associates Inc. grew its stake in shares of Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after acquiring an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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.