Several other brokerages have also weighed in on SNA. Robert W. Baird lifted their price objective on Cerner from $67.00 to $71.00 and gave the stock an outperform rating in a report on Wednesday, April 10th. Zacks Investment Research raised Golub Capital BDC from a hold rating to a buy rating and set a $20.00 price objective for the company in a report on Tuesday, July 16th. Barrington Research lifted their price objective on Lions Gate Entertainment to $18.00 and gave the stock an outperform rating in a report on Wednesday, May 29th. Bank of America lowered Propetro from a buy rating to a neutral rating in a report on Tuesday, April 16th. Finally, Longbow Research reissued a hold rating on shares of Snap-on in a report on Monday, July 1st. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. Snap-on currently has an average rating of Hold and a consensus target price of $169.75.
Shares of Snap-on stock opened at $150.80 on Friday. Snap-on has a 1 year low of $135.29 and a 1 year high of $189.46. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.45 and a beta of 1.24. The company’s fifty day simple moving average is $160.80. The company has a current ratio of 2.48, a quick ratio of 1.70 and a debt-to-equity ratio of 0.30.
Snap-on (NYSE:SNA) last announced its earnings results on Thursday, July 18th. The company reported $3.22 earnings per share (EPS) for the quarter, beating the 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 firm had revenue of $951.30 million during the quarter, compared to analyst estimates of $959.33 million. During the same period last year, the firm posted $3.11 EPS. The business’s revenue was down .3% compared to the same quarter last year. As a group, equities analysts forecast that Snap-on will post 12.3 EPS for the current fiscal year.
In related news, Chairman Nicholas T. Pinchuk sold 19,403 shares of Snap-on stock in a transaction dated Wednesday, June 19th. The stock was sold at an average price of $164.60, for a total value of $3,193,733.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Anup R. Banerjee sold 2,800 shares of Snap-on stock in a transaction dated 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 sale, the senior vice president now directly owns 128 shares of the company’s stock, valued at approximately $19,251.20. The disclosure for this sale can be found here. Company insiders own 3.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of SNA. Deprince Race & Zollo Inc. boosted its stake in Snap-on by 4.2% in the 4th quarter. Deprince Race & Zollo Inc. now owns 149,730 shares of the company’s stock worth $21,754,000 after purchasing an additional 6,034 shares during the period. Dimensional Fund Advisors LP boosted its stake in Snap-on by 12.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 821,268 shares of the company’s stock worth $119,321,000 after purchasing an additional 91,309 shares during the period. Geode Capital Management LLC boosted its stake in Snap-on by 8.6% in the 4th quarter. Geode Capital Management LLC now owns 870,603 shares of the company’s stock worth $126,307,000 after purchasing an additional 69,020 shares during the period. Squarepoint Ops LLC bought a new position in Snap-on in the 4th quarter worth about $2,143,000. Finally, Municipal Employees Retirement System of Michigan bought a new position in Snap-on in the 4th quarter worth about $833,000.
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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