Snap-on (NYSE:SNA) Lifted to Hold at ValuEngine
Several other equities analysts have also recently issued reports on the company. Zacks Investment Research cut Snap-on from a “hold” rating to a “sell” rating and set a $166.00 price target on the stock. in a research report on Tuesday, July 16th. Longbow Research reissued a “hold” rating on shares of Snap-on in a research note on Monday, July 1st. Northcoast Research restated a “neutral” rating on shares of Snap-on in a report on Friday, May 17th. Tigress Financial reaffirmed a “buy” rating on shares of Snap-on in a research note on Wednesday, July 24th. Finally, Oppenheimer set a $180.00 target price on Snap-on and gave the company a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Snap-on presently has an average rating of “Hold” and a consensus target price of $172.60.
Shares of Snap-on stock traded up $5.62 on Tuesday, hitting $158.02. The company had a trading volume of 313,253 shares, compared to its average volume of 546,142. The business has a 50-day simple moving average of $150.33 and a 200-day simple moving average of $158.13. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.48 and a quick ratio of 1.70. The company has a market cap of $8.34 billion, a PE ratio of 13.38, a PEG ratio of 1.41 and a beta of 1.25. Snap-on has a 52 week low of $135.29 and a 52 week high of $189.46.
In other news, SVP Anup R. Banerjee sold 2,800 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $150.40, for a total transaction of $421,120.00. Following the completion of the sale, the senior vice president now owns 128 shares in the company, valued at approximately $19,251.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Nicholas T. Pinchuk sold 19,403 shares of the stock in a transaction on Wednesday, June 19th. The shares were sold at an average price of $164.60, for a total value of $3,193,733.80. The disclosure for this sale can be found here. Insiders own 3.90% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its stake in Snap-on by 326.7% in the 1st quarter. Signaturefd LLC now owns 192 shares of the company’s stock worth $30,000 after purchasing an additional 147 shares during the period. Redhawk Wealth Advisors Inc. bought a new stake in shares of Snap-on in the 2nd quarter valued at approximately $35,000. Motco acquired a new stake in Snap-on in the second quarter valued at approximately $37,000. CSat Investment Advisory L.P. lifted its stake in Snap-on by 34.0% in the second quarter. CSat Investment Advisory L.P. now owns 280 shares of the company’s stock valued at $47,000 after acquiring an additional 71 shares during the last quarter. Finally, Zions Bancorporation N.A. acquired a new stake in Snap-on in the first quarter valued at approximately $56,000.
Snap-on Company Profile
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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