Snap-on (NYSE:SNA) Rating Increased to Buy at Roth Mkm

Snap-on (NYSE:SNA – Get Rating) was upgraded by stock analysts at Roth Mkm from a “neutral” rating to a “buy” rating in a report released on Thursday, Marketbeat reports. The brokerage presently has a $298.00 price target on the stock, up from their prior price target of $278.00. Roth Mkm’s price target indicates a potential upside of 14.24% from the company’s previous close.

Several other equities research analysts have also issued reports on SNA. MKM Partners increased their target price on shares of Snap-on from $238.00 to $259.00 in a report on Friday, February 3rd. Bank of America increased their target price on shares of Snap-on from $230.00 to $240.00 and gave the stock an “underperform” rating in a report on Friday, April 21st. Tigress Financial reissued a “buy” rating and issued a $302.00 target price (up from $298.00) on shares of Snap-on in a report on Thursday, March 2nd. Barrington Research restated an “outperform” rating and issued a $280.00 price target on shares of Snap-on in a research note on Monday, April 17th. Finally, Longbow Research upgraded Snap-on from an “underperform” rating to a “neutral” rating in a research note on Friday, April 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $260.57.

Snap-on Price Performance

NYSE SNA opened at $260.86 on Thursday. Snap-on has a 52 week low of $190.08 and a 52 week high of $265.02. The firm has a market capitalization of $13.81 billion, a P/E ratio of 14.97, a PEG ratio of 2.09 and a beta of 1.09. The company has a quick ratio of 2.43, a current ratio of 3.48 and a debt-to-equity ratio of 0.26. The company has a 50-day moving average price of $246.88 and a 200-day moving average price of $242.26.

Snap-on (NYSE:SNA – Get Rating) last released its quarterly earnings results on Thursday, April 20th. The company reported $4.60 EPS for the quarter, beating the consensus estimate of $4.14 by $0.46. Snap-on had a net margin of 20.60% and a return on equity of 21.17%. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.13 billion. During the same quarter in the prior year, the firm earned $4.00 EPS. The business’s revenue for the quarter was up 7.8% compared to the same quarter last year. Equities research analysts anticipate that Snap-on will post 17.74 earnings per share for the current year.

Insider Activity

In other news, VP Richard Thomas Miller sold 300 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $263.05, for a total transaction of $78,915.00. Following the completion of the transaction, the vice president now directly owns 2,042 shares in the company, valued at approximately $537,148.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Richard Thomas Miller sold 300 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $263.05, for a total value of $78,915.00. Following the completion of the sale, the vice president now directly owns 2,042 shares in the company, valued at $537,148.10. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Jesus Arregui sold 1,988 shares of the firm’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $256.64, for a total value of $510,200.32. Following the completion of the sale, the senior vice president now owns 3,986 shares of the company’s stock, valued at $1,022,967.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,884 shares of company stock worth $14,194,715. 4.20% of the stock is currently owned by insiders.

Institutional Trading of Snap-on

Institutional investors have recently bought and sold shares of the stock. MetLife Investment Management LLC increased its stake in Snap-on by 22.4% in the first quarter. MetLife Investment Management LLC now owns 14,527 shares of the company’s stock worth $2,985,000 after purchasing an additional 2,657 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Snap-on by 6.0% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,150 shares of the company’s stock worth $1,469,000 after purchasing an additional 407 shares during the period. Sei Investments Co. increased its stake in Snap-on by 11.3% in the first quarter. Sei Investments Co. now owns 125,365 shares of the company’s stock worth $25,727,000 after purchasing an additional 12,720 shares during the period. Aviva PLC increased its stake in Snap-on by 12.3% in the first quarter. Aviva PLC now owns 33,102 shares of the company’s stock worth $6,802,000 after purchasing an additional 3,636 shares during the period. Finally, Prudential PLC purchased a new stake in Snap-on in the first quarter worth $302,000. 85.19% of the stock is currently owned by institutional investors.

About Snap-on

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Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education.