Snap-On (NYSE:SNA) Stock Price Expected to Rise, Tigress Financial Analyst Says

Snap-On (NYSE:SNA) had its price target increased by investment analysts at Tigress Financial from $405.00 to $445.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Tigress Financial’s price objective indicates a potential upside of 15.60% from the stock’s current price.

A number of other equities analysts have also recently issued reports on SNA. Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Robert W. Baird set a $375.00 target price on shares of Snap-On in a research report on Friday, February 6th. Roth Mkm restated a “buy” rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Finally, Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $377.33.

Snap-On Price Performance

NYSE SNA opened at $384.95 on Friday. The firm has a market capitalization of $19.98 billion, a PE ratio of 20.06, a P/E/G ratio of 2.66 and a beta of 0.81. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. Snap-On has a 12 month low of $289.81 and a 12 month high of $390.13. The company’s 50 day simple moving average is $367.79 and its 200 day simple moving average is $347.90.

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

Insider Activity

In related news, VP June C. Lemerand sold 1,378 shares of the stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the sale, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. This represents a 32.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Timothy L. Chambers sold 8,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the completion of the sale, the senior vice president owned 19,480 shares in the company, valued at approximately $7,502,332.40. The trade was a 29.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 75,855 shares of company stock worth $27,629,827. Insiders own 3.90% of the company’s stock.

Institutional Trading of Snap-On

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Snap-On by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 6,525,488 shares of the company’s stock worth $2,248,683,000 after buying an additional 31,073 shares during the last quarter. State Street Corp raised its stake in Snap-On by 1.3% in the fourth quarter. State Street Corp now owns 2,272,041 shares of the company’s stock valued at $782,945,000 after purchasing an additional 28,071 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Snap-On by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,011,914 shares of the company’s stock valued at $693,306,000 after purchasing an additional 39,765 shares during the last quarter. First Trust Advisors LP increased its position in Snap-On by 2.7% during the 4th quarter. First Trust Advisors LP now owns 1,967,608 shares of the company’s stock worth $678,038,000 after purchasing an additional 51,037 shares in the last quarter. Finally, Nordea Investment Management AB boosted its stake in shares of Snap-On by 4.1% during the fourth quarter. Nordea Investment Management AB now owns 1,310,198 shares of the company’s stock valued at $454,206,000 after purchasing an additional 51,486 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

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.