Barrington Research Reaffirms Outperform Rating for Snap-on (NYSE:SNA)

Barrington Research reiterated their outperform rating on shares of Snap-on (NYSE:SNA) in a research report sent to investors on Wednesday, Benzinga reports. Barrington Research currently has a $325.00 price objective on the stock.

A number of other research analysts also recently weighed in on SNA. Roth Mkm restated a buy rating and issued a $324.00 price target on shares of Snap-on in a research note on Thursday, April 18th. Tigress Financial restated a buy rating and issued a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. Finally, Robert W. Baird decreased their price target on Snap-on from $295.00 to $282.00 and set a neutral rating for the company in a research note on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $316.75.

Snap-on Stock Up 0.2 %

Shares of Snap-on stock opened at $270.89 on Wednesday. The business’s 50 day simple moving average is $281.80 and its 200 day simple moving average is $281.26. Snap-on has a 52-week low of $247.68 and a 52-week high of $298.49. The firm has a market cap of $14.28 billion, a PE ratio of 14.21, a P/E/G ratio of 1.87 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the firm earned $4.60 EPS. Snap-on’s revenue for the quarter was down .1% compared to the same quarter last year. On average, analysts predict that Snap-on will post 19.01 earnings per share for the current fiscal year.

Snap-on Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 20th will be issued a dividend of $1.86 per share. The ex-dividend date of this dividend is Friday, May 17th. This represents a $7.44 annualized dividend and a yield of 2.75%. Snap-on’s payout ratio is currently 39.03%.

Insider Buying and Selling

In related news, VP Richard Thomas Miller sold 704 shares of Snap-on stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 23,514 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now owns 742,383 shares in the company, valued at approximately $213,420,264.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,677 shares of company stock valued at $14,870,348. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Scarborough Advisors LLC acquired a new position in Snap-on during the 4th quarter worth approximately $30,000. BKM Wealth Management LLC purchased a new stake in shares of Snap-on in the fourth quarter worth approximately $33,000. Exchange Traded Concepts LLC bought a new position in shares of Snap-on in the fourth quarter valued at approximately $43,000. Fortitude Family Office LLC bought a new position in shares of Snap-on in the fourth quarter valued at approximately $49,000. Finally, Bruce G. Allen Investments LLC bought a new position in shares of Snap-on in the fourth quarter valued at approximately $53,000. 84.88% of the stock is owned by institutional investors and hedge funds.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.