Barrington Research Comments on Snap-on Incorporated’s FY2019 Earnings (NYSE:SNA)

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Snap-on Incorporated (NYSE:SNA) – Analysts at Barrington Research reduced their FY2019 earnings per share (EPS) estimates for shares of Snap-on in a report released on Thursday, October 17th. Barrington Research analyst G. Prestopino now anticipates that the company will post earnings per share of $12.27 for the year, down from their previous forecast of $12.35. Barrington Research currently has a “Buy” rating and a $185.00 price objective on the stock.

SNA has been the topic of several other research reports. Oppenheimer set a $180.00 target price on shares of Snap-on and gave the company a “buy” rating in a research note on Friday, July 19th. ValuEngine lowered shares of Snap-on from a “hold” rating to a “sell” rating in a research note on Saturday. Tigress Financial reaffirmed a “buy” rating on shares of Snap-on in a research note on Wednesday, July 24th. Robert W. Baird reissued a “hold” rating and set a $169.00 price objective on shares of Snap-on in a research note on Friday, October 18th. Finally, Longbow Research reissued a “hold” rating on shares of Snap-on in a research note on Monday, July 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. Snap-on has a consensus rating of “Hold” and a consensus target price of $173.60.

Shares of NYSE SNA opened at $162.64 on Monday. The firm has a market capitalization of $8.64 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 1.51 and a beta of 1.25. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.30. Snap-on has a 1 year low of $135.29 and a 1 year high of $174.00. The firm’s 50-day moving average is $155.66 and its 200-day moving average is $157.95.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 17th. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.02. The company had revenue of $901.80 million for the quarter, compared to analyst estimates of $909.23 million. Snap-on had a net margin of 18.72% and a return on equity of 21.16%. The company’s revenue for the quarter was up .4% on a year-over-year basis. During the same quarter last year, the firm earned $2.88 EPS.

A number of hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in Snap-on by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 6,104,323 shares of the company’s stock worth $1,011,120,000 after buying an additional 96,196 shares during the period. Bank of America Corp DE raised its holdings in Snap-on by 12.7% during the 2nd quarter. Bank of America Corp DE now owns 3,487,031 shares of the company’s stock worth $577,591,000 after buying an additional 392,665 shares during the period. Northern Trust Corp raised its holdings in Snap-on by 1.5% during the 2nd quarter. Northern Trust Corp now owns 1,130,372 shares of the company’s stock worth $187,234,000 after buying an additional 16,808 shares during the period. FMR LLC raised its holdings in Snap-on by 2.1% during the 1st quarter. FMR LLC now owns 884,058 shares of the company’s stock worth $138,372,000 after buying an additional 18,291 shares during the period. Finally, Investec Asset Management LTD raised its holdings in Snap-on by 16.5% during the 2nd quarter. Investec Asset Management LTD now owns 703,954 shares of the company’s stock worth $116,603,000 after buying an additional 99,944 shares during the period.

In related news, CEO Nicholas T. Pinchuk sold 19,675 shares of Snap-on stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $155.46, for a total transaction of $3,058,675.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 3.90% of the stock is owned by company insiders.

About Snap-on

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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Earnings History and Estimates for Snap-on (NYSE:SNA)

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