Snap-on (NYSE:SNA) Shares Down 5.4% - What's Next?

Snap-on Incorporated (NYSE:SNA - Get Free Report) shares traded down 5.4% during trading on Thursday . The company traded as low as $338.74 and last traded at $336.84. 76,238 shares changed hands during trading, a decline of 80% from the average session volume of 375,083 shares. The stock had previously closed at $356.10.

Wall Street Analysts Forecast Growth

SNA has been the topic of several recent research reports. Bank of America boosted their price target on Snap-on from $255.00 to $280.00 and gave the company an "underperform" rating in a research report on Friday, October 18th. Roth Mkm boosted their price target on Snap-on from $324.00 to $365.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Barrington Research reaffirmed an "outperform" rating and issued a $350.00 target price on shares of Snap-on in a research note on Monday. Tigress Financial upped their target price on Snap-on from $336.00 to $385.00 and gave the company a "buy" rating in a research note on Friday, October 25th. Finally, Robert W. Baird upped their target price on Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, Snap-on has an average rating of "Hold" and an average price target of $345.40.

Snap-on Trading Down 0.8 %

The company has a market cap of $17.57 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 2.13 and a beta of 0.99. The business has a 50 day simple moving average of $346.16 and a two-hundred day simple moving average of $320.59. The company has a current ratio of 4.15, a quick ratio of 3.14 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the company posted $4.75 earnings per share. On average, analysts forecast that Snap-on Incorporated will post 20.07 EPS for the current fiscal year.

Insider Transactions at Snap-on

In other Snap-on news, VP June C. Lemerand sold 3,500 shares of the firm's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $362.86, for a total value of $1,270,010.00. Following the transaction, the vice president now owns 2,289 shares of the company's stock, valued at $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 21,783 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $354.83, for a total transaction of $7,729,261.89. Following the completion of the sale, the chief executive officer now owns 769,738 shares in the company, valued at $273,126,134.54. The trade was a 2.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 38,643 shares of company stock valued at $13,580,191. Insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Snap-on

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNA. Raymond James Financial Inc. bought a new position in Snap-on in the 4th quarter worth $148,839,000. Norges Bank acquired a new stake in shares of Snap-on during the fourth quarter worth approximately $145,342,000. Proficio Capital Partners LLC acquired a new position in Snap-on in the fourth quarter worth $57,738,000. Benjamin Edwards Inc. grew its holdings in Snap-on by 2,691.2% during the 3rd quarter. Benjamin Edwards Inc. now owns 158,092 shares of the company's stock worth $45,810,000 after acquiring an additional 152,428 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of Snap-on by 34,381.0% in the third quarter. International Assets Investment Management LLC now owns 130,338 shares of the company's stock valued at $37,760,000 after purchasing an additional 129,960 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 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.