Snap-On Incorporated (NYSE:SNA) Receives $426.20 Consensus Target Price from Brokerages

Snap-On Incorporated (NYSE:SNA) has been given an average recommendation of “Moderate Buy” by the six ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $426.20.

SNA has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research report on Friday, July 17th. Tigress Financial raised their price target on Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research note on Friday, July 31st. Barclays initiated coverage on Snap-On in a report on Thursday, May 28th. They issued an “overweight” rating and a $420.00 price objective for the company. Robert W. Baird set a $415.00 target price on Snap-On in a report on Friday, July 24th. Finally, Roth Capital reissued a “buy” rating and issued a $461.00 target price (up from $409.00) on shares of Snap-On in a research report on Friday, July 24th.

Snap-On Price Performance

SNA opened at $394.00 on Thursday. The company’s 50-day simple moving average is $403.06 and its two-hundred day simple moving average is $384.33. The company has a debt-to-equity ratio of 0.15, a quick ratio of 2.64 and a current ratio of 3.43. The stock has a market capitalization of $20.38 billion, a P/E ratio of 20.09, a P/E/G ratio of 2.78 and a beta of 0.73. Snap-On has a 52-week low of $319.20 and a 52-week high of $423.02.

Snap-On (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 23rd. The company reported $4.96 EPS for the quarter, topping analysts’ consensus estimates of $4.95 by $0.01. Snap-On had a net margin of 21.25% and a return on equity of 17.07%. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same period in the previous year, the business posted $4.72 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. As a group, analysts predict that Snap-On will post 19.7 EPS for the current year.

Snap-On declared that its Board of Directors has authorized a stock buyback program on Thursday, April 30th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 2.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Snap-On Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th will be given a dividend of $2.44 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $9.76 annualized dividend and a dividend yield of 2.5%. Snap-On’s dividend payout ratio is presently 49.77%.

Insider Buying and Selling

In other Snap-On news, CFO Aldo John Pagliari sold 5,531 shares of the stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $404.25, for a total value of $2,235,906.75. Following the transaction, the chief financial officer directly owned 120,644 shares in the company, valued at approximately $48,770,337. This trade represents a 4.38% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Timothy L. Chambers sold 9,111 shares of Snap-On stock in a transaction on Tuesday, July 28th. The stock was sold at an average price of $419.36, for a total transaction of $3,820,788.96. Following the transaction, the senior vice president owned 21,223 shares in the company, valued at $8,900,077.28. This represents a 30.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 45,928 shares of company stock valued at $18,483,009 in the last 90 days. 3.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Snap-On

Institutional investors have recently bought and sold shares of the stock. DV Equities LLC purchased a new position in Snap-On during the fourth quarter valued at $25,000. Western Wealth Management LLC purchased a new stake in Snap-On in the first quarter worth about $29,000. Montag A & Associates Inc. raised its stake in shares of Snap-On by 331.8% in the fourth quarter. Montag A & Associates Inc. now owns 95 shares of the company’s stock worth $33,000 after buying an additional 73 shares during the period. Quattro Advisors LLC bought a new position in shares of Snap-On in the fourth quarter worth about $35,000. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of Snap-On by 36.4% during the 4th 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 in the last quarter. 84.88% of the stock is owned by institutional investors.

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.