Snap-On (NYSE:SNA) Stock Rating Lowered by Wall Street Zen

Snap-On (NYSE:SNAGet Free Report) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

SNA has been the topic of several other reports. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Robert W. Baird set a $375.00 target price on shares of Snap-On in a research note on Friday. Barrington Research restated an “outperform” rating and set a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Roth Mkm reaffirmed a “buy” rating and issued a $385.00 price target on shares of Snap-On in a report on Friday, October 17th. Finally, Tigress Financial boosted their price objective on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and an average target price of $366.67.

Get Our Latest Analysis on Snap-On

Snap-On Stock Performance

Shares of NYSE:SNA opened at $369.26 on Friday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. Snap-On has a 1 year low of $289.81 and a 1 year high of $388.96. The firm has a market capitalization of $19.21 billion, a PE ratio of 19.24, a P/E/G ratio of 2.61 and a beta of 0.81. The business’s 50 day moving average price is $356.93 and its 200-day moving average price is $341.80.

Snap-On (NYSE:SNAGet Free Report) last announced its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.24 billion. During the same quarter last year, the firm posted $4.82 EPS. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. As a group, equities research analysts expect that Snap-On will post 19.79 earnings per share for the current fiscal year.

Insider Activity at Snap-On

In other news, CFO Aldo John Pagliari sold 6,779 shares of the stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $352.20, for a total transaction of $2,387,563.80. Following the completion of the transaction, the chief financial officer directly owned 111,888 shares in the company, valued at approximately $39,406,953.60. This represents a 5.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Richard Thomas Miller sold 2,000 shares of the business’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $348.27, for a total transaction of $696,540.00. Following the completion of the sale, the vice president owned 4,158 shares in the company, valued at approximately $1,448,106.66. This trade represents a 32.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,036 shares of company stock valued at $16,792,028 over the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Institutional Investors Weigh In On Snap-On

A number of institutional investors have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Snap-On by 15.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock valued at $2,983,000 after buying an additional 1,185 shares during the period. Woodline Partners LP lifted its stake in Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after acquiring an additional 1,273 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Snap-On during the 2nd quarter worth approximately $30,000. DAVENPORT & Co LLC increased its position in shares of Snap-On by 21.9% in the 2nd quarter. DAVENPORT & Co LLC now owns 789 shares of the company’s stock valued at $246,000 after purchasing an additional 142 shares during the last quarter. Finally, Blue Trust Inc. raised its holdings in shares of Snap-On by 9.9% in the 2nd quarter. Blue Trust Inc. now owns 2,808 shares of the company’s stock valued at $874,000 after purchasing an additional 252 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

Snap-On News Roundup

Here are the key news stories impacting Snap-On this week:

About Snap-On

(Get Free Report)

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.

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