Snap-on Incorporated (NYSE:SNA - Get Free Report) dropped 5.4% during mid-day trading on Thursday . The company traded as low as $338.74 and last traded at $336.84. Approximately 76,238 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 375,083 shares. The stock had previously closed at $356.10.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on SNA. Roth Mkm raised their target price on shares of Snap-on from $324.00 to $365.00 and gave the company a "buy" rating in a research report on Tuesday, October 22nd. Tigress Financial upped their target price on Snap-on from $336.00 to $385.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Robert W. Baird raised their price target on Snap-on from $290.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Barrington Research restated an "outperform" rating and set a $350.00 price objective on shares of Snap-on in a research note on Monday. Finally, Bank of America lifted their price objective on shares of Snap-on from $255.00 to $280.00 and gave the stock an "underperform" rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $345.40.
Get Our Latest Stock Analysis on SNA
Snap-on Price Performance
The company has a quick ratio of 3.14, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. The company's fifty day moving average price is $347.82 and its 200 day moving average price is $319.63. The company has a market capitalization of $17.87 billion, a P/E ratio of 17.46, a PEG ratio of 2.13 and a beta of 0.99.
Snap-on (NYSE:SNA - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported $4.82 earnings per share (EPS) for the quarter, topping 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 quarter last year, the company posted $4.75 EPS. As a group, sell-side analysts forecast that Snap-on Incorporated will post 20.07 EPS for the current year.
Insider Activity
In related news, CFO Aldo John Pagliari sold 6,909 shares of the firm's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $347.62, for a total transaction of $2,401,706.58. Following the sale, the chief financial officer now owns 100,668 shares of the company's stock, valued at $34,994,210.16. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP June C. Lemerand sold 3,500 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total value of $1,270,010.00. Following the completion of the transaction, the vice president now directly owns 2,289 shares of the company's stock, valued at approximately $830,586.54. The trade was a 60.46 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,192 shares of company stock worth $11,400,978. Insiders own 4.10% of the company's stock.
Hedge Funds Weigh In On Snap-on
A number of hedge funds have recently modified their holdings of SNA. UMB Bank n.a. increased its position in 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 purchasing an additional 31 shares during the period. SBI Securities Co. Ltd. acquired a new position in Snap-on in the fourth quarter valued at $26,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in Snap-on during the fourth quarter valued at $28,000. Reston Wealth Management LLC bought a new position in shares of Snap-on in the 3rd quarter worth about $30,000. Finally, Brooklyn Investment Group acquired a new position in shares of Snap-on in the 3rd quarter valued at about $39,000. Institutional investors and hedge funds own 84.88% of the company's stock.
Snap-on Company Profile
(
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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