Brokerages Set Snap-On Incorporated (NYSE:SNA) PT at $408.20

Shares of Snap-On Incorporated (NYSE:SNAGet Free Report) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $408.20.

A number of research analysts have weighed in on SNA shares. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Friday, July 17th. Barclays initiated coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price for the company. Roth Capital reiterated a “buy” rating and set a $431.00 price target on shares of Snap-On in a report on Thursday. Finally, Robert W. Baird boosted their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th.

View Our Latest Stock Analysis on SNA

Insider Activity

In other news, CFO Aldo John Pagliari sold 5,713 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $367.19, for a total value of $2,097,756.47. Following the completion of the sale, the chief financial officer owned 119,488 shares of the company’s stock, valued at $43,874,798.72. This represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total transaction of $811,840.00. Following the completion of the sale, the vice president directly owned 4,529 shares of the company’s stock, valued at approximately $1,838,411.68. This trade represents a 30.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 37,117 shares of company stock valued at $14,003,922. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Snap-On during the 4th quarter worth approximately $25,000. DV Equities LLC purchased a new position in shares of Snap-On during the fourth quarter worth $25,000. GoalVest Advisory LLC acquired a new stake in shares of Snap-On in the fourth quarter valued at $28,000. Western Wealth Management LLC purchased a new stake in shares of Snap-On in the 1st quarter valued at $29,000. Finally, Montag A & Associates Inc. raised its holdings in shares of Snap-On by 331.8% in the 4th quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares during the period. Hedge funds and other institutional investors own 84.88% of the company’s stock.

Snap-On Price Performance

Shares of NYSE SNA opened at $396.15 on Friday. The firm has a 50-day simple moving average of $388.68 and a 200-day simple moving average of $378.21. The company has a quick ratio of 2.74, a current ratio of 3.53 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $20.52 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 2.86 and a beta of 0.73. Snap-On has a 52 week low of $312.78 and a 52 week high of $419.68.

Snap-On (NYSE:SNAGet Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business posted $4.72 earnings per share. Snap-On’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts predict that Snap-On will post 19.7 earnings per share for the current fiscal year.

Snap-On declared that its Board of Directors has approved a share repurchase program on Thursday, April 30th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 2.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were given a dividend of $2.44 per share. This represents a $9.76 annualized dividend and a yield of 2.5%. The ex-dividend date was Wednesday, May 20th. Snap-On’s dividend payout ratio (DPR) is presently 50.39%.

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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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Analyst Recommendations for Snap-On (NYSE:SNA)

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