Snap-On (NYSE:SNA) Cut to “Hold” at Wall Street Zen

Wall Street Zen downgraded shares of Snap-On (NYSE:SNA) from a buy rating to a hold rating in a research report released on Saturday.

Other research analysts have also recently issued reports about the company. Roth Mkm reissued a “buy” rating and set a $385.00 price target on shares of Snap-On in a research report on Friday, October 17th. Robert W. Baird set a $375.00 price objective on Snap-On in a report on Friday. Weiss Ratings reissued a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Tigress Financial upped their price target on shares of Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Finally, Barrington Research reissued an “outperform” rating and issued a $350.00 price objective on shares of Snap-On in a research report on Wednesday, October 15th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $366.67.

Snap-On Stock Down 0.5%

Snap-On stock opened at $367.64 on Friday. 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 has a 1-year low of $289.81 and a 1-year high of $388.96. The company has a fifty day simple moving average of $357.51 and a 200 day simple moving average of $342.06. The company has a market cap of $19.12 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 2.61 and a beta of 0.81.

Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, February 5th. The company reported $4.94 EPS for the quarter, topping the consensus estimate of $4.86 by $0.08. The firm had revenue of $1.23 billion for 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 company’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period in the previous year, the firm posted $4.82 EPS. Research analysts anticipate that Snap-On will post 19.79 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Jesus Arregui sold 3,831 shares of the firm’s stock in a transaction dated Tuesday, November 25th. The shares were 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 owned 2,642 shares in the company, valued at approximately $891,093.76. This trade represents a 59.18% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Timothy L. Chambers sold 8,000 shares of Snap-On stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $385.13, for a total transaction of $3,081,040.00. Following the sale, the senior vice president directly owned 19,480 shares of the company’s stock, valued at $7,502,332.40. The trade was a 29.11% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 48,036 shares of company stock valued at $16,792,028. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snap-On

Several hedge funds have recently bought and sold shares of SNA. Kennebec Savings Bank lifted its holdings in Snap-On by 3.6% in the 4th quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock worth $270,000 after purchasing an additional 27 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Snap-On by 36.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock valued at $36,000 after buying an additional 28 shares during the last quarter. BankPlus Trust Department lifted its holdings in shares of Snap-On by 5.9% in the third quarter. BankPlus Trust Department now owns 541 shares of the company’s stock worth $187,000 after buying an additional 30 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in shares of Snap-On by 0.4% during the third quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock worth $2,546,000 after acquiring an additional 31 shares during the last quarter. Finally, CWM LLC boosted its position in shares of Snap-On by 0.6% during the fourth quarter. CWM LLC now owns 5,517 shares of the company’s stock worth $1,901,000 after acquiring an additional 31 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

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.