Robert W. Baird Lowers Snap-on (NYSE:SNA) Price Target to $349.00

Snap-on (NYSE:SNA - Get Free Report) had its target price lowered by analysts at Robert W. Baird from $358.00 to $349.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Robert W. Baird's price objective indicates a potential upside of 14.36% from the stock's previous close.

A number of other equities research analysts also recently weighed in on SNA. Barrington Research restated an "outperform" rating and issued a $350.00 price target on shares of Snap-on in a research note on Friday, April 11th. Tigress Financial boosted their price objective on Snap-on from $385.00 to $390.00 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Longbow Research raised Snap-on from a "neutral" rating to a "buy" rating and set a $400.00 price target on the stock in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Snap-on presently has a consensus rating of "Hold" and a consensus target price of $355.67.

Snap-on Stock Performance

Shares of NYSE:SNA traded down $26.84 on Tuesday, reaching $305.16. 1,849,999 shares of the company's stock were exchanged, compared to its average volume of 355,166. The company has a current ratio of 4.15, a quick ratio of 3.17 and a debt-to-equity ratio of 0.22. Snap-on has a twelve month low of $252.98 and a twelve month high of $373.90. The company has a fifty day moving average of $331.66 and a 200-day moving average of $338.00. The company has a market capitalization of $16.00 billion, a price-to-earnings ratio of 15.65, a PEG ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings data on Thursday, April 17th. The company reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($0.30). The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same period in the prior year, the firm earned $4.91 earnings per share. On average, research analysts predict that Snap-on will post 19.79 EPS for the current fiscal year.

Insider Transactions at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the company's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $337.81, for a total value of $2,179,212.31. Following the completion of the sale, the senior vice president now directly owns 257 shares of the company's stock, valued at approximately $86,817.17. This represents a 96.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-on stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at approximately $266,221,278.24. This represents a 2.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 36,011 shares of company stock valued at $12,116,859 over the last three months. Corporate insiders own 3.90% of the company's stock.

Institutional Trading of Snap-on

A number of large investors have recently added to or reduced their stakes in the stock. UMB Bank n.a. lifted its position in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company's stock valued at $25,000 after buying an additional 31 shares during the last quarter. SBI Securities Co. Ltd. purchased a new position in Snap-on during the fourth quarter valued at approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of Snap-on in the fourth quarter worth $28,000. Opal Wealth Advisors LLC bought a new position in shares of Snap-on in the first quarter worth approximately $35,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of Snap-on during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 84.88% of the company's stock.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.