Snap One (NASDAQ:SNPO) Price Target Cut to $18.00

Snap One (NASDAQ:SNPOGet Rating) had its target price cut by equities research analysts at Truist Financial from $21.00 to $18.00 in a report released on Monday, The Fly reports. Truist Financial’s price target would indicate a potential upside of 57.76% from the company’s previous close.

A number of other brokerages have also issued reports on SNPO. Morgan Stanley reduced their price target on Snap One from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 23rd. Zacks Investment Research upgraded Snap One from a “sell” rating to a “hold” rating in a research report on Wednesday, May 11th. Finally, JPMorgan Chase & Co. cut their price objective on Snap One from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Wednesday, March 23rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $22.00.

SNPO traded down $1.01 during trading on Monday, reaching $11.41. 659 shares of the company were exchanged, compared to its average volume of 123,615. The stock has a market cap of $865.83 million and a P/E ratio of -24.28. The firm has a 50 day moving average of $14.65 and a 200 day moving average of $17.96. The company has a current ratio of 2.24, a quick ratio of 0.85 and a debt-to-equity ratio of 0.60. Snap One has a 52 week low of $9.95 and a 52 week high of $24.50.

Snap One (NASDAQ:SNPOGet Rating) last issued its quarterly earnings data on Tuesday, March 22nd. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.06). The company had revenue of $273.49 million for the quarter, compared to the consensus estimate of $261.27 million. Snap One had a positive return on equity of 4.96% and a negative net margin of 3.06%. As a group, analysts forecast that Snap One will post 0.74 earnings per share for the current fiscal year.

Institutional investors have recently made changes to their positions in the company. Citigroup Inc. acquired a new stake in shares of Snap One during the third quarter worth $25,000. Royal Bank of Canada acquired a new stake in shares of Snap One during the third quarter worth $25,000. Advisor Group Holdings Inc. raised its position in shares of Snap One by 855.0% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,865 shares of the company’s stock worth $60,000 after purchasing an additional 2,565 shares during the period. Metropolitan Life Insurance Co NY acquired a new stake in shares of Snap One during the third quarter worth $74,000. Finally, SG Americas Securities LLC acquired a new position in Snap One during the third quarter valued at $104,000. 93.11% of the stock is currently owned by institutional investors.

Snap One Company Profile (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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