Snap-On (NYSE:SNA) Reaches New 1-Year High – Here’s What Happened

Snap-On Incorporated (NYSE:SNA) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $389.31 and last traded at $389.57, with a volume of 32017 shares. The stock had previously closed at $382.68.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Robert W. Baird set a $375.00 price target on shares of Snap-On in a research report on Friday, February 6th. Barrington Research restated an “outperform” rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday, October 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Wall Street Zen cut Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Finally, Tigress Financial raised their price objective on Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, October 21st. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $370.67.

Snap-On Stock Down 0.4%

The company’s 50 day moving average is $359.02 and its 200 day moving average is $342.68. The company has a market cap of $19.83 billion, a PE ratio of 19.91, a P/E/G ratio of 2.59 and a beta of 0.81. The company has a current ratio of 4.79, a quick ratio of 3.68 and a debt-to-equity ratio of 0.20.

Snap-On (NYSE:SNA) last released its quarterly earnings data on Thursday, February 5th. The company reported $4.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.86 by $0.08. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Snap-On had a net margin of 21.44% and a return on equity of 17.34%. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the company earned $4.82 EPS. As a group, analysts predict that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Insider Activity at Snap-On

In other Snap-On news, SVP Jesus Arregui sold 3,831 shares of Snap-On stock in a transaction on Tuesday, November 25th. The stock was sold at an average price of $337.28, for a total transaction of $1,292,119.68. Following the completion of the sale, the senior vice president directly owned 2,642 shares of the company’s stock, valued at $891,093.76. The trade was a 59.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 6,779 shares of the company’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $352.20, for a total value of $2,387,563.80. Following the completion of the sale, the chief financial officer owned 111,888 shares of the company’s stock, valued at $39,406,953.60. This represents a 5.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,036 shares of company stock worth $16,792,028 over the last three months. Corporate insiders own 3.90% of the company’s stock.

Hedge Funds Weigh In On Snap-On

Several institutional investors have recently bought and sold shares of the business. Lansforsakringar Fondforvaltning AB publ lifted its holdings in Snap-On by 1.2% during the fourth quarter. Lansforsakringar Fondforvaltning AB publ now owns 16,744 shares of the company’s stock worth $5,770,000 after buying an additional 199 shares during the period. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Snap-On by 0.6% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 62,256 shares of the company’s stock valued at $21,460,000 after acquiring an additional 354 shares during the period. Campbell & CO Investment Adviser LLC raised its position in shares of Snap-On by 235.8% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 8,213 shares of the company’s stock worth $2,830,000 after acquiring an additional 5,767 shares in the last quarter. Wedbush Securities Inc. lifted its stake in shares of Snap-On by 8.1% during the 4th quarter. Wedbush Securities Inc. now owns 4,099 shares of the company’s stock worth $1,413,000 after purchasing an additional 307 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its position in Snap-On by 4.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,806 shares of the company’s stock valued at $967,000 after purchasing an additional 111 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Company Profile

Snap?On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap?On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap?On has established a long history in the professional tools market.