Snap-On Incorporated (NYSE:SNA) Receives $377.33 Consensus Target Price from Brokerages

Shares of Snap-On Incorporated (NYSE:SNA) have earned a consensus recommendation of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $377.3333.

A number of equities analysts have recently issued reports on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Roth Mkm reaffirmed a “buy” rating and issued a $409.00 target price (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Tigress Financial increased their price target on shares of Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Finally, Robert W. Baird set a $375.00 price target on shares of Snap-On in a research note on Friday, February 6th.

Snap-On Stock Performance

Snap-On stock opened at $361.53 on Monday. Snap-On has a fifty-two week low of $289.81 and a fifty-two week high of $390.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. The stock has a market cap of $18.82 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 2.54 and a beta of 0.78. The firm’s fifty day moving average price is $373.53 and its 200-day moving average price is $352.12.

Snap-On (NYSE:SNA) last released its earnings results on Thursday, February 5th. The company reported $4.94 EPS for the quarter, beating analysts’ consensus estimates of $4.86 by $0.08. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.24 billion. During the same quarter in the prior year, the firm earned $4.82 earnings per share. The firm’s revenue was up 2.8% on a year-over-year basis. On average, equities research analysts expect that Snap-On will post 19.79 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Tuesday, February 24th. Snap-On’s dividend payout ratio (DPR) is presently 50.86%.

Insider Buying and Selling at Snap-On

In other news, CEO Nicholas T. Pinchuk sold 23,229 shares of the firm’s stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the transaction, the chief executive officer directly owned 846,562 shares of the company’s stock, valued at approximately $324,538,008.32. This trade represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Timothy L. Chambers sold 8,000 shares of Snap-On stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total value of $3,081,040.00. Following the completion of the transaction, the senior vice president owned 19,480 shares in the company, valued at approximately $7,502,332.40. This represents a 29.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 39,650 shares of company stock valued at $15,210,959. Company insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Snap-On

Several institutional investors and hedge funds have recently bought and sold shares of SNA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Snap-On by 15.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 8,850 shares of the company’s stock worth $2,983,000 after purchasing an additional 1,185 shares during the period. Woodline Partners LP grew its holdings in shares of Snap-On by 40.4% in the first quarter. Woodline Partners LP now owns 4,426 shares of the company’s stock worth $1,492,000 after purchasing an additional 1,273 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Snap-On by 7.0% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,825 shares of the company’s stock worth $3,991,000 after purchasing an additional 843 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Snap-On by 44.7% in the second quarter. SG Americas Securities LLC now owns 5,445 shares of the company’s stock worth $1,694,000 after buying an additional 1,683 shares during the period. Finally, Creative Planning increased its stake in shares of Snap-On by 4.0% in the second quarter. Creative Planning now owns 12,316 shares of the company’s stock worth $3,832,000 after buying an additional 477 shares during the period. 84.88% of the stock is currently owned by institutional investors.

About Snap-On

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.