Snap One (NASDAQ:SNPO) Price Target Cut to $11.00

Snap One (NASDAQ:SNPO) had its price target lowered by investment analysts at Truist Financial from $13.00 to $11.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 55.37% from the company’s previous close.

SNPO has been the subject of a number of other research reports. Morgan Stanley increased their price objective on shares of Snap One from $10.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 9th. TheStreet raised shares of Snap One from a “d” rating to a “c-” rating in a report on Thursday, August 17th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $11.25.

Snap One Trading Down 2.6 %

NASDAQ:SNPO opened at $7.08 on Wednesday. Snap One has a 12 month low of $7.00 and a 12 month high of $12.38. The firm has a market cap of $541.12 million, a price-to-earnings ratio of -28.32 and a beta of 1.34. The company has a quick ratio of 0.68, a current ratio of 2.44 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average is $8.51 and its 200-day moving average is $9.39.

Snap One (NASDAQ:SNPO) last released its earnings results on Tuesday, August 8th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.03 by $0.11. The firm had revenue of $274.41 million during the quarter, compared to analysts’ expectations of $270.87 million. Snap One had a negative net margin of 1.84% and a positive return on equity of 2.92%. Equities analysts anticipate that Snap One will post 0.29 EPS for the current year.

Insider Activity at Snap One

In related news, CEO John H. Heyman sold 5,423 shares of the stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $10.06, for a total value of $54,555.38. Following the sale, the chief executive officer now directly owns 1,759,989 shares in the company, valued at approximately $17,705,489.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 7,892 shares of company stock worth $79,443 in the last ninety days. Company insiders own 5.70% of the company’s stock.

Institutional Trading of Snap One

A number of hedge funds have recently modified their holdings of SNPO. Vanguard Group Inc. raised its holdings in Snap One by 29.6% during the 1st quarter. Vanguard Group Inc. now owns 895,348 shares of the company’s stock worth $13,206,000 after buying an additional 204,692 shares during the period. BlackRock Inc. raised its holdings in Snap One by 20.8% during the 1st quarter. BlackRock Inc. now owns 900,656 shares of the company’s stock worth $13,283,000 after buying an additional 154,841 shares during the period. Citadel Advisors LLC acquired a new stake in Snap One during the 2nd quarter worth approximately $475,000. Credit Suisse AG acquired a new stake in Snap One during the 2nd quarter worth approximately $357,000. Finally, State Street Corp raised its holdings in Snap One by 8.4% during the 1st quarter. State Street Corp now owns 381,258 shares of the company’s stock worth $5,624,000 after buying an additional 29,596 shares during the period. 92.96% of the stock is currently owned by institutional investors and hedge funds.

Snap One Company Profile

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.