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

Snap-On Incorporated (NYSE:SNA) has been given an average rating of “Moderate Buy” by the seven ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $365.00.

Several equities analysts have recently weighed in on SNA shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research report on Wednesday, October 15th. Tigress Financial lifted their target price on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Finally, Roth Capital reaffirmed a “buy” rating and set a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th.

Hedge Funds Weigh In On Snap-On

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Snap-On by 1.3% in the second quarter. Vanguard Group Inc. now owns 6,495,475 shares of the company’s stock valued at $2,021,262,000 after acquiring an additional 80,422 shares in the last quarter. State Street Corp boosted its stake in shares of Snap-On by 0.6% in the second quarter. State Street Corp now owns 2,207,840 shares of the company’s stock valued at $687,036,000 after purchasing an additional 12,184 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Snap-On by 1.9% in the second quarter. Charles Schwab Investment Management Inc. now owns 1,958,005 shares of the company’s stock valued at $609,292,000 after purchasing an additional 36,421 shares during the period. First Trust Advisors LP grew its holdings in Snap-On by 1.3% during the 3rd quarter. First Trust Advisors LP now owns 1,916,571 shares of the company’s stock valued at $664,149,000 after purchasing an additional 23,863 shares in the last quarter. Finally, Kingstone Capital Partners Texas LLC purchased a new stake in Snap-On during the 2nd quarter worth $434,938,000. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Stock Down 2.0%

Shares of NYSE SNA opened at $329.43 on Tuesday. The stock has a market capitalization of $17.13 billion, a PE ratio of 17.27, a P/E/G ratio of 2.33 and a beta of 0.81. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The firm has a fifty day moving average of $338.62 and a 200-day moving average of $327.19. Snap-On has a 52-week low of $289.81 and a 52-week high of $373.89.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating analysts’ consensus estimates of $4.59 by $0.12. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.The firm had revenue of $1.19 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same quarter last year, the firm earned $4.70 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Snap-On will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be given a $2.44 dividend. The ex-dividend date of this dividend is Friday, November 21st. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. This represents a $9.76 annualized dividend and a dividend yield of 3.0%. Snap-On’s dividend payout ratio (DPR) is currently 51.18%.

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.