Jefferies Group LLC Reaffirms Hold Rating for Snap-On Incorporated (SNA)
Jefferies Group LLC reiterated their hold rating on shares of Snap-On Incorporated (NYSE:SNA) in a research report released on Thursday, July 6th. The brokerage currently has a $175.00 price target on the stock.
Several other equities analysts have also issued reports on the company. BidaskClub upgraded Snap-On from a strong sell rating to a sell rating in a research report on Wednesday, July 5th. Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $200.00 price objective on shares of Snap-On in a report on Thursday, June 1st. Finally, CIBC restated an outperform rating and issued a $200.00 target price on shares of Snap-On in a research note on Wednesday, April 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $197.86.
Snap-On (NYSE SNA) traded down 0.088% during mid-day trading on Thursday, hitting $152.715. 303,654 shares of the stock traded hands. The company has a market cap of $8.79 billion, a price-to-earnings ratio of 15.809 and a beta of 1.05. Snap-On has a 12-month low of $145.17 and a 12-month high of $181.73. The firm’s 50-day moving average is $154.83 and its 200-day moving average is $165.25.
Snap-On (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 20th. The company reported $2.60 EPS for the quarter, topping the Zacks’ consensus estimate of $2.55 by $0.05. The firm had revenue of $921.40 million during the quarter, compared to analyst estimates of $920.87 million. Snap-On had a return on equity of 20.90% and a net margin of 16.22%. The company’s revenue was up 5.6% on a year-over-year basis. During the same period last year, the company earned $2.36 earnings per share. Equities research analysts expect that Snap-On will post $10.09 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 1.86%. Snap-On’s dividend payout ratio is 29.34%.
In other news, VP Iain Boyd sold 18,418 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $147.54, for a total transaction of $2,717,391.72. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 3.70% of the company’s stock.
A number of institutional investors have recently bought and sold shares of SNA. Adirondack Trust Co. increased its position in Snap-On by 2.5% in the first quarter. Adirondack Trust Co. now owns 624 shares of the company’s stock valued at $105,000 after buying an additional 15 shares in the last quarter. Morgan Dempsey Capital Management LLC boosted its stake in Snap-On by 63.7% in the second quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock valued at $107,000 after buying an additional 263 shares in the last quarter. TrimTabs Asset Management LLC boosted its stake in Snap-On by 88.4% in the first quarter. TrimTabs Asset Management LLC now owns 665 shares of the company’s stock valued at $112,000 after buying an additional 312 shares in the last quarter. Lloyds Banking Group plc acquired a new stake in Snap-On during the second quarter valued at approximately $129,000. Finally, Van ECK Associates Corp boosted its stake in Snap-On by 7.5% in the first quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock valued at $143,000 after buying an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 91.83% of the company’s stock.
Snap-On Company Profile
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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