Snap-on (NYSE:SNA - Get Free Report) was upgraded by research analysts at Longbow Research from a "neutral" rating to a "buy" rating in a report issued on Monday, Marketbeat reports. The brokerage presently has a $400.00 price target on the stock. Longbow Research's target price would suggest a potential upside of 16.87% from the company's previous close.
Other research analysts have also recently issued research reports about the stock. Tigress Financial increased their target price on shares of Snap-on from $385.00 to $390.00 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Barrington Research reiterated an "outperform" rating and set a $350.00 price target on shares of Snap-on in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $355.33.
Read Our Latest Report on Snap-on
Snap-on Stock Performance
NYSE:SNA traded up $2.68 during mid-day trading on Monday, reaching $342.26. 302,372 shares of the company's stock were exchanged, compared to its average volume of 342,055. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15. The firm has a market capitalization of $17.94 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. Snap-on has a one year low of $252.98 and a one year high of $373.90. The business's fifty day simple moving average is $339.41 and its two-hundred day simple moving average is $334.80.
Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share for the quarter, beating analysts' consensus estimates of $4.78 by $0.04. Snap-on had a return on equity of 19.20% and a net margin of 21.71%. During the same quarter in the prior year, the business posted $4.75 earnings per share. Analysts anticipate that Snap-on will post 19.79 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,700 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares of the company's stock, valued at approximately $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jesus Arregui sold 6,451 shares of the company's stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $337.81, for a total value of $2,179,212.31. Following the transaction, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 36,011 shares of company stock valued at $12,116,859 over the last ninety days. 3.90% of the stock is owned by company insiders.
Institutional Investors Weigh In On Snap-on
Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cerity Partners LLC raised its stake in shares of Snap-on by 103.5% in the third quarter. Cerity Partners LLC now owns 8,156 shares of the company's stock worth $2,363,000 after purchasing an additional 4,149 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Snap-on by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 43,983 shares of the company's stock valued at $12,742,000 after purchasing an additional 273 shares in the last quarter. FMR LLC boosted its holdings in Snap-on by 16.3% during the third quarter. FMR LLC now owns 57,543 shares of the company's stock worth $16,671,000 after purchasing an additional 8,073 shares during the last quarter. Public Sector Pension Investment Board increased its stake in Snap-on by 14.8% in the 3rd quarter. Public Sector Pension Investment Board now owns 2,329 shares of the company's stock valued at $675,000 after buying an additional 300 shares during the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Snap-on by 3.5% during the 3rd quarter. Captrust Financial Advisors now owns 8,738 shares of the company's stock worth $2,532,000 after buying an additional 297 shares in the last quarter. 84.88% of the stock is owned by institutional investors.
About Snap-on
(
Get Free Report)
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.
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