Snap-on (NYSE:SNA) has been assigned a $180.00 price objective by research analysts at Oppenheimer in a research note issued on Friday, TipRanks reports. The brokerage presently has a “buy” rating on the stock. Oppenheimer’s price objective indicates a potential upside of 16.25% from the stock’s current price. Oppenheimer also issued estimates for Snap-on’s Q3 2019 earnings at $2.93 EPS, Q4 2019 earnings at $3.09 EPS and FY2020 earnings at $12.80 EPS.
Other equities analysts have also recently issued research reports about the company. Bank of America cut Propetro from a “buy” rating to a “neutral” rating in a report on Tuesday, April 16th. ValuEngine cut Vereit from a “buy” rating to a “hold” rating in a report on Friday. Robert W. Baird set a $196.00 price target on Visa and gave the stock a “buy” rating in a report on Friday. Barrington Research upped their price target on Lions Gate Entertainment to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, May 29th. Finally, Zacks Investment Research upgraded Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price target for the company in a report on Tuesday, July 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Snap-on has an average rating of “Hold” and an average price target of $172.60.
Shares of NYSE:SNA traded up $4.04 during trading on Friday, reaching $154.84. 481,316 shares of the stock were exchanged, compared to its average volume of 595,240. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.70 and a current ratio of 2.48. Snap-on has a 12-month low of $135.29 and a 12-month high of $189.46. The firm has a market capitalization of $8.28 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.45 and a beta of 1.24. The company has a 50-day moving average price of $160.74.
Snap-on (NYSE:SNA) last issued its earnings results on Thursday, July 18th. The company reported $3.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.21 by $0.01. Snap-on had a return on equity of 21.40% and a net margin of 18.70%. The business had revenue of $951.30 million during the quarter, compared to analysts’ expectations of $959.33 million. During the same quarter in the previous year, the business earned $3.11 EPS. The company’s revenue for the quarter was down .3% on a year-over-year basis. On average, analysts expect that Snap-on will post 12.3 earnings per share for the current fiscal year.
In other Snap-on news, SVP Anup R. Banerjee sold 2,800 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $150.40, for a total value of $421,120.00. Following the completion of the transaction, the senior vice president now owns 128 shares in the company, valued at approximately $19,251.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Nicholas T. Pinchuk sold 19,403 shares of the company’s stock in a transaction that occurred on Wednesday, June 19th. The stock was sold at an average price of $164.60, for a total value of $3,193,733.80. The disclosure for this sale can be found here. 3.90% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Signaturefd LLC raised its position in shares of Snap-on by 326.7% in the 1st quarter. Signaturefd LLC now owns 192 shares of the company’s stock valued at $30,000 after purchasing an additional 147 shares in the last quarter. FTB Advisors Inc. raised its position in shares of Snap-on by 120.5% in the 1st quarter. FTB Advisors Inc. now owns 366 shares of the company’s stock valued at $56,000 after purchasing an additional 200 shares in the last quarter. Zions Bancorporation N.A. acquired a new position in shares of Snap-on in the 1st quarter valued at approximately $56,000. Quadrant Capital Group LLC raised its position in shares of Snap-on by 408.9% in the 1st quarter. Quadrant Capital Group LLC now owns 402 shares of the company’s stock valued at $60,000 after purchasing an additional 323 shares in the last quarter. Finally, Icon Wealth Partners LLC acquired a new position in shares of Snap-on in the 1st quarter valued at approximately $65,000.
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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.
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