Snap One (NASDAQ:SNPO) Downgraded by Zacks Investment Research

Snap One (NASDAQ:SNPOGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Friday, Zacks.com reports.

According to Zacks, “Snap One Holdings Corp. is a provider of smart living products, services and software to professional integrators. Snap One Holdings Corp. is based in CHARLOTTE, N.C. “

Other research analysts also recently issued research reports about the company. Morgan Stanley decreased their price objective on Snap One from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 23rd. Truist Financial decreased their price objective on Snap One from $25.00 to $21.00 in a report on Friday, March 25th. Finally, JPMorgan Chase & Co. decreased their price objective on Snap One from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Wednesday, March 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $22.38.

Shares of SNPO stock opened at $14.09 on Friday. The company has a quick ratio of 0.85, a current ratio of 2.24 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $17.62 and a two-hundred day moving average price of $18.39. Snap One has a 12-month low of $13.14 and a 12-month high of $24.50.

Snap One (NASDAQ:SNPOGet Rating) last released its quarterly earnings data on Tuesday, March 22nd. The company reported $0.13 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.06). The firm had revenue of $273.49 million during the quarter, compared to analysts’ expectations of $261.27 million. On average, sell-side analysts forecast that Snap One will post 0.74 EPS for the current year.

A number of large investors have recently made changes to their positions in SNPO. Indaba Capital Management L.P. purchased a new position in Snap One during the 3rd quarter valued at about $50,010,000. BlackRock Inc. purchased a new position in shares of Snap One during the 3rd quarter worth approximately $9,728,000. Summit Creek Advisors LLC purchased a new position in shares of Snap One during the 4th quarter worth approximately $9,971,000. Brookfield Asset Management Inc. purchased a new position in shares of Snap One during the 3rd quarter worth approximately $4,168,000. Finally, Geode Capital Management LLC purchased a new position in shares of Snap One during the 3rd quarter worth approximately $3,964,000. Institutional investors own 92.37% of the company’s stock.

About Snap One (Get Rating)

Snap One Holdings Corp. provides smart living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.

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