Analysts Set Snap-On Incorporated (NYSE:SNA) PT at $356.17

Shares of Snap-On Incorporated (NYSE:SNA) have received an average rating of “Moderate Buy” from the six research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $356.1667.

A number of equities research analysts have recently commented on SNA shares. Wall Street Zen raised shares of Snap-On from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Bank of America upped their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an “underperform” rating in a report on Friday, July 18th. Robert W. Baird increased their price target on shares of Snap-On from $329.00 to $347.00 and gave the stock a “neutral” rating in a report on Friday, July 18th. Finally, Barrington Research reissued an “outperform” rating and set a $350.00 price target on shares of Snap-On in a report on Tuesday, July 15th.

Snap-On Stock Performance

Shares of SNA stock opened at $321.98 on Friday. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The firm has a fifty day moving average price of $318.87 and a 200 day moving average price of $326.63. The company has a market cap of $16.79 billion, a P/E ratio of 17.17, a PEG ratio of 2.22 and a beta of 0.76. Snap-On has a 12 month low of $267.00 and a 12 month high of $373.89.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.61 by $0.11. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the prior year, the firm posted $5.07 earnings per share. Snap-On’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts predict that Snap-On will post 19.79 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 5,553 shares of the firm’s stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the sale, the chief financial officer owned 109,560 shares in the company, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen L. Daniel sold 1,090 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the sale, the director owned 8,030 shares in the company, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 29,815 shares of company stock worth $9,482,532. 3.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Snap-On

A number of hedge funds have recently made changes to their positions in SNA. Alpine Bank Wealth Management acquired a new position in shares of Snap-On in the 1st quarter valued at $25,000. Ameritas Advisory Services LLC acquired a new position in shares of Snap-On in the 2nd quarter valued at $30,000. Golden State Wealth Management LLC boosted its holdings in shares of Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in shares of Snap-On by 248.3% in the 1st quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock valued at $34,000 after purchasing an additional 72 shares during the last quarter. Finally, Ransom Advisory Ltd acquired a new position in shares of Snap-On in the 1st quarter valued at $34,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

Snap-On Company Profile

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.