Snap-On (NYSE:SNA) Price Target Raised to $445.00

Snap-On (NYSE:SNA) had its price objective hoisted by research analysts at Tigress Financial from $405.00 to $445.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Tigress Financial’s target price would suggest a potential upside of 15.60% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Roth Mkm restated a “buy” rating and set a $409.00 price target (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Robert W. Baird set a $375.00 target price on shares of Snap-On in a research note on Friday, February 6th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and a consensus target price of $377.33.

Snap-On Stock Performance

NYSE SNA traded down $1.72 during trading on Friday, reaching $384.95. The company’s stock had a trading volume of 357,473 shares, compared to its average volume of 349,593. The business’s fifty day moving average price is $367.03 and its 200-day moving average price is $347.30. Snap-On has a twelve month low of $289.81 and a twelve month high of $390.13. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79. The firm has a market cap of $19.98 billion, a price-to-earnings ratio of 20.06, a P/E/G ratio of 2.67 and a beta of 0.81.

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

Insider Activity at Snap-On

In other Snap-On news, VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $348.27, for a total value of $696,540.00. Following the completion of the transaction, the vice president directly owned 4,158 shares of the company’s stock, valued at approximately $1,448,106.66. This trade represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP June C. Lemerand sold 1,378 shares of Snap-On stock in a transaction that occurred 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 owned 2,913 shares of the company’s stock, valued at approximately $1,128,991.41. The trade was a 32.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 75,855 shares of company stock valued at $27,629,827 in the last ninety days. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SNA. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Snap-On during the fourth quarter worth approximately $25,000. DV Equities LLC acquired a new stake in shares of Snap-On during the fourth quarter worth $25,000. GoalVest Advisory LLC purchased a new stake in shares of Snap-On in the fourth quarter valued at $28,000. Tobam acquired a new position in Snap-On in the second quarter valued at $29,000. Finally, Vermillion & White Wealth Management Group LLC lifted its position in Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

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.