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

Shares of Snap-On Incorporated (NYSE:SNA) have received an average recommendation of “Moderate Buy” from the seven brokerages that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $377.3333.

A number of brokerages have weighed in on SNA. Wall Street Zen downgraded Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Tigress Financial boosted their price objective on Snap-On from $405.00 to $445.00 and gave the company a “buy” rating in a research note on Friday, February 27th. Robert W. Baird set a $375.00 target price on Snap-On in a research report on Friday, February 6th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, January 21st. Finally, Roth Mkm reissued a “buy” rating and issued a $409.00 price target (up from $385.00) on shares of Snap-On in a research note on Tuesday, February 10th.

Snap-On Trading Up 0.9%

NYSE SNA opened at $367.55 on Monday. The company has a quick ratio of 3.68, a current ratio of 4.79 and a debt-to-equity ratio of 0.20. Snap-On has a twelve month low of $289.81 and a twelve month high of $390.13. The company has a market cap of $19.13 billion, a price-to-earnings ratio of 19.15, a price-to-earnings-growth ratio of 2.54 and a beta of 0.78. The business’s fifty day moving average is $372.86 and its 200 day moving average is $351.46.

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

Snap-On Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 10th. Investors of record on Tuesday, February 24th were given a $2.44 dividend. This represents a $9.76 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date of this dividend was Tuesday, February 24th. Snap-On’s payout ratio is presently 50.86%.

Insider Buying and Selling at Snap-On

In other news, VP June C. Lemerand sold 1,378 shares of the stock in a transaction dated Wednesday, February 25th. The shares were sold at an average price of $387.57, for a total value of $534,071.46. Following the completion of the sale, the vice president owned 2,913 shares in the company, valued at $1,128,991.41. This represents a 32.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Aldo John Pagliari sold 7,043 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $382.05, for a total transaction of $2,690,778.15. Following the transaction, the chief financial officer directly owned 117,183 shares in the company, valued at $44,769,765.15. The trade was a 5.67% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 39,650 shares of company stock worth $15,210,959. 3.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Snap-On

A number of institutional investors have recently added to or reduced their stakes in SNA. World Investment Advisors increased its stake in Snap-On by 30.9% in the 4th quarter. World Investment Advisors now owns 3,409 shares of the company’s stock valued at $1,175,000 after buying an additional 805 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Snap-On by 10.2% in the 4th quarter. Corient Private Wealth LLC now owns 25,278 shares of the company’s stock worth $8,751,000 after buying an additional 2,347 shares during the last quarter. Auto Owners Insurance Co boosted its stake in shares of Snap-On by 34,360.0% in the 4th quarter. Auto Owners Insurance Co now owns 1,025,185 shares of the company’s stock worth $353,279,000 after buying an additional 1,022,210 shares during the last quarter. Hsbc Holdings PLC grew its holdings in shares of Snap-On by 0.9% in the fourth quarter. Hsbc Holdings PLC now owns 374,236 shares of the company’s stock valued at $128,974,000 after acquiring an additional 3,321 shares in the last quarter. Finally, Gunpowder Capital Management LLC dba Oliver Wealth Management purchased a new stake in shares of Snap-On during the fourth quarter valued at approximately $78,000. 84.88% of the stock is owned by institutional investors.

Snap-On Company Profile

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.