Snap-On Incorporated (NYSE:SNA) Receives $408.20 Consensus Target Price from Analysts

Snap-On Incorporated (NYSE:SNA) has been given a consensus rating of “Moderate Buy” by the six ratings firms that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $408.20.

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

Insider Buying and Selling at Snap-On

In other news, VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $405.92, for a total value of $811,840.00. Following the sale, the vice president directly owned 4,529 shares in the company, valued at $1,838,411.68. This represents a 30.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jesus Arregui sold 4,251 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $383.92, for a total transaction of $1,632,043.92. Following the transaction, the senior vice president directly owned 4,439 shares of the company’s stock, valued at approximately $1,704,220.88. This trade represents a 48.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 37,117 shares of company stock worth $14,003,922 over the last ninety days. 3.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap-On

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

Snap-On Price Performance

SNA stock opened at $404.37 on Friday. The firm has a 50 day moving average of $387.27 and a 200-day moving average of $377.45. The company has a market cap of $20.95 billion, a price-to-earnings ratio of 20.88, a PEG ratio of 2.86 and a beta of 0.73. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. Snap-On has a 12-month low of $312.78 and a 12-month high of $419.68.

Snap-On (NYSE:SNA) last released its quarterly 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). The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business’s revenue was up 5.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.51 EPS. As a group, equities analysts expect that Snap-On will post 19.7 EPS for the current fiscal year.

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

Snap-On Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Shareholders of record on Wednesday, May 20th were given a dividend of $2.44 per share. The ex-dividend date was Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a yield of 2.4%. Snap-On’s payout ratio is presently 50.39%.

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.