Snap-on (NYSE:SNA) Given New $282.00 Price Target at Robert W. Baird

Snap-on (NYSE:SNA) had its price objective cut by analysts at Robert W. Baird from $295.00 to $282.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 4.91% from the company’s current price.

Several other analysts have also recently issued reports on SNA. Tigress Financial reissued a “buy” rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reissued an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Monday, April 15th. Finally, Roth Mkm reissued a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $301.40.

Snap-on Trading Up 2.7 %

NYSE SNA opened at $268.80 on Friday. The firm’s 50-day moving average is $283.78 and its two-hundred day moving average is $278.44. Snap-on has a 12 month low of $245.73 and a 12 month high of $298.49. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.82 and a quick ratio of 2.81. The stock has a market capitalization of $14.20 billion, a P/E ratio of 14.10, a PEG ratio of 1.87 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company had revenue of $1.18 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the company posted $4.60 earnings per share. Snap-on’s revenue for the quarter was down .1% compared to the same quarter last year. On average, sell-side analysts anticipate that Snap-on will post 19.22 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total transaction of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares in the company, valued at $213,420,264.84. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 47,368 shares of company stock worth $13,399,449. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Snap-on

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Snap-on by 0.7% in the first quarter. Vanguard Group Inc. now owns 6,365,971 shares of the company’s stock valued at $1,308,079,000 after purchasing an additional 44,555 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Snap-on by 2.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,276,205 shares of the company’s stock valued at $325,509,000 after acquiring an additional 26,260 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Snap-on by 0.7% in the first quarter. JPMorgan Chase & Co. now owns 1,255,550 shares of the company’s stock valued at $309,984,000 after acquiring an additional 8,649 shares during the period. Ariel Investments LLC boosted its holdings in shares of Snap-on by 1.8% in the first quarter. Ariel Investments LLC now owns 1,129,250 shares of the company’s stock valued at $232,038,000 after acquiring an additional 20,485 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Snap-on by 3.6% in the first quarter. Northern Trust Corp now owns 877,449 shares of the company’s stock valued at $180,298,000 after acquiring an additional 30,664 shares during the period. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.