Snap-On Incorporated (NYSE:SNA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Snap-On Incorporated (NYSE:SNA) have earned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $381.20.

A number of equities analysts have recently issued reports on SNA shares. Robert W. Baird upped their price target on Snap-On from $380.00 to $395.00 and gave the stock a “neutral” rating in a research report on Friday, April 24th. Tigress Financial upped their price target on Snap-On from $405.00 to $445.00 and gave the stock a “buy” rating in a research report on Friday, February 27th. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a research report on Saturday, February 7th. Roth Mkm reaffirmed a “buy” rating and set a $431.00 price target on shares of Snap-On in a research report on Friday, April 24th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Monday, April 20th.

Insider Activity at Snap-On

In other news, VP June C. Lemerand sold 1,378 shares of the business’s stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total transaction of $534,071.46. Following the sale, the vice president directly owned 2,913 shares of the company’s stock, valued at $1,128,991.41. The trade was a 32.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,229 shares of the business’s stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $383.36, for a total transaction of $8,905,069.44. Following the sale, the chief executive officer directly owned 846,562 shares in the company, valued at $324,538,008.32. This trade represents a 2.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 39,650 shares of company stock valued at $15,210,959 over the last three months. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Snap-On

A number of large investors have recently made changes to their positions in the stock. Checchi Capital Advisers LLC grew its holdings in shares of Snap-On by 5.8% during the first quarter. Checchi Capital Advisers LLC now owns 1,973 shares of the company’s stock valued at $716,000 after buying an additional 108 shares during the last quarter. Calamos Wealth Management LLC purchased a new stake in shares of Snap-On during the first quarter valued at $304,000. Calamos Advisors LLC purchased a new stake in Snap-On in the first quarter valued at $304,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Snap-On by 50.2% in the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 5,744 shares of the company’s stock valued at $2,086,000 after purchasing an additional 1,921 shares during the last quarter. Finally, Bryn Mawr Trust Advisors LLC boosted its holdings in Snap-On by 2.0% in the first quarter. Bryn Mawr Trust Advisors LLC now owns 10,776 shares of the company’s stock valued at $3,914,000 after purchasing an additional 213 shares during the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-On Stock Performance

Shares of SNA stock opened at $372.42 on Tuesday. The business’s fifty day simple moving average is $374.37 and its 200-day simple moving average is $360.39. The company has a market cap of $19.29 billion, a PE ratio of 19.23, a PEG ratio of 2.67 and a beta of 0.75. The company has a current ratio of 3.53, a quick ratio of 2.74 and a debt-to-equity ratio of 0.15. Snap-On has a 12-month low of $301.82 and a 12-month high of $400.88.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $4.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.75 by ($0.06). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.19 billion. Snap-On had a return on equity of 17.13% and a net margin of 21.28%.The business’s revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.51 earnings per share. Analysts expect that Snap-On will post 19.75 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 10th. Stockholders of record on Wednesday, May 20th will be issued a dividend of $2.44 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $9.76 dividend on an annualized basis and a dividend yield of 2.6%. Snap-On’s payout ratio is 50.39%.

Snap-On announced that its Board of Directors has authorized a share repurchase plan on Thursday, April 30th that authorizes the company to buyback $500.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

About Snap-On

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.