Snap-On Incorporated (NYSE:SNA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Snap-On Incorporated (NYSE:SNA) has received an average rating of “Moderate Buy” from the six analysts that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $408.20.

A number of analysts have recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Monday, April 20th. Barclays began coverage on Snap-On in a research report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 target price for the company. Roth Capital reaffirmed a “buy” rating and issued a $431.00 target price on shares of Snap-On in a research note on Friday, April 24th. Finally, Robert W. Baird increased their price target on shares of Snap-On from $380.00 to $395.00 and gave the company a “neutral” rating in a research report on Friday, April 24th.

Insider Buying and Selling at Snap-On

In other news, SVP Jesus Arregui sold 4,251 shares of Snap-On stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total value of $1,632,043.92. Following the transaction, the senior vice president owned 4,439 shares in the company, valued at approximately $1,704,220.88. The trade was a 48.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,396 shares of Snap-On stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $375.77, for a total value of $8,791,514.92. Following the completion of the transaction, the chief executive officer owned 856,918 shares in the company, valued at approximately $322,004,076.86. This represents a 2.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 37,117 shares of company stock valued at $14,003,922. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Snap-On

A number of large investors have recently bought and sold shares of the stock. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Snap-On in the fourth quarter worth approximately $25,000. DV Equities LLC bought a new stake in Snap-On during the 4th quarter valued at $25,000. GoalVest Advisory LLC purchased a new stake in Snap-On in the 4th quarter worth approximately $28,000. Western Wealth Management LLC bought a new stake in shares of Snap-On in the 1st quarter worth approximately $29,000. Finally, Montag A & Associates Inc. increased its stake in shares of Snap-On by 331.8% during the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock valued at $33,000 after buying an additional 73 shares during the period. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Stock Down 1.0%

Shares of NYSE SNA opened at $411.01 on Friday. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average of $385.83 and a 200-day moving average of $376.45. The firm has a market capitalization of $21.29 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 2.89 and a beta of 0.73. Snap-On has a 12 month low of $312.78 and a 12 month high of $419.68.

Snap-On (NYSE:SNA) last announced its earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). Snap-On had a net margin of 21.28% and a return on equity of 17.13%. The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.19 billion. During the same period in the prior year, the business earned $4.51 earnings per share. The company’s revenue for the quarter was up 5.8% compared to the same quarter last year. Sell-side analysts expect that Snap-On will post 19.7 earnings per share for the current fiscal year.

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Wednesday, May 20th were issued a dividend of $2.44 per share. The ex-dividend date of this dividend was Wednesday, May 20th. This represents a $9.76 annualized dividend and a dividend yield of 2.4%. Snap-On’s dividend payout ratio (DPR) is currently 50.39%.

Snap-On declared that its Board of Directors has approved a share repurchase program on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 2.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Snap-On Company Profile

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.