Snap-On (NYSE:SNA) Releases Earnings Results

Snap-On (NYSE:SNA) issued its quarterly earnings data on Thursday. The company reported $4.64 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.93 by ($0.29), Zacks reports. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. During the same period last year, the firm posted $4.71 earnings per share. The company’s revenue was down .6% compared to the same quarter last year.

Snap-On Trading Down 5.4%

SNA stock traded down $19.77 during midday trading on Thursday, hitting $349.14. 345,782 shares of the company’s stock were exchanged, compared to its average volume of 350,562. Snap-On has a 1-year low of $320.80 and a 1-year high of $423.02. The company has a current ratio of 3.43, a quick ratio of 2.64 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $18.06 billion, a PE ratio of 17.83, a P/E/G ratio of 2.43 and a beta of 0.71. The business has a 50-day simple moving average of $377.17 and a two-hundred day simple moving average of $384.62.

Snap-On Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were issued a dividend of $2.44 per share. The ex-dividend date was Wednesday, August 19th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.8%. Snap-On’s dividend payout ratio (DPR) is currently 49.77%.

Insider Activity at Snap-On

In related news, CFO Aldo Pagliari sold 5,531 shares of the firm’s stock in a transaction dated Thursday, August 13th. The stock was sold at an average price of $404.25, for a total transaction of $2,235,906.75. Following the completion of the transaction, the chief financial officer directly owned 120,644 shares in the company, valued at $48,770,337. This trade represents a 4.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Marty V. Ozolins sold 800 shares of Snap-On stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $400.00, for a total transaction of $320,000.00. Following the completion of the transaction, the vice president owned 1,526 shares of the company’s stock, valued at $610,400. This trade represents a 34.39% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 38,331 shares of company stock worth $15,525,200. 3.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have commented on SNA shares. Barclays dropped their price objective on Snap-On from $450.00 to $435.00 and set an “overweight” rating on the stock in a report on Tuesday, October 6th. Tigress Financial upped their target price on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research report on Thursday, October 15th. Robert W. Baird set a $415.00 price target on shares of Snap-On in a research note on Friday, July 24th. Finally, Roth Capital reissued a “buy” rating and issued a $461.00 price target (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $449.00.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.