Roth Mkm Reaffirms “Buy” Rating for Snap-on (NYSE:SNA)

Snap-on (NYSE:SNA)‘s stock had its “buy” rating restated by research analysts at Roth Mkm in a report released on Thursday, Benzinga reports. They currently have a $324.00 price objective on the stock. Roth Mkm’s target price would indicate a potential upside of 21.04% from the stock’s previous close.

Several other equities analysts have also recently commented on the stock. Tigress Financial restated a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reissued an “outperform” rating and set a $325.00 target price on shares of Snap-on in a report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap-on currently has a consensus rating of “Hold” and an average target price of $306.00.

Snap-on Stock Performance

Shares of NYSE:SNA traded down $15.83 during trading on Thursday, hitting $267.67. 207,018 shares of the company traded hands, compared to its average volume of 302,737. The stock has a market capitalization of $14.14 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 2.02 and a beta of 0.99. The business’s fifty day moving average is $283.74 and its 200-day moving average is $278.27. The company has a quick ratio of 2.81, a current ratio of 3.88 and a debt-to-equity ratio of 0.23. Snap-on has a one year low of $239.08 and a one year high of $298.49.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the previous year, the business posted $4.42 EPS. Snap-on’s revenue was up 3.5% on a year-over-year basis. As a group, equities analysts predict that Snap-on will post 19.22 earnings per share for the current fiscal year.

Insider Transactions at Snap-on

In other news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now directly owns 742,383 shares of the company’s stock, valued at approximately $213,420,264.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares in the company, valued at approximately $213,420,264.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Richard Thomas Miller sold 704 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,368 shares of company stock valued at $13,399,449. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Snap-on

Hedge funds have recently modified their holdings of the company. Confluence Investment Management LLC bought a new position in shares of Snap-on during the 1st quarter valued at about $173,451,000. Norges Bank bought a new position in Snap-on in the fourth quarter valued at approximately $145,665,000. Nordea Investment Management AB boosted its holdings in shares of Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock valued at $249,743,000 after buying an additional 298,727 shares during the period. Wellington Management Group LLP increased its position in shares of Snap-on by 7,194.3% during the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock worth $49,551,000 after acquiring an additional 237,843 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Snap-on by 25.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock valued at $188,355,000 after acquiring an additional 147,997 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.