B. Riley Analysts Give Snap-on (SNA) a $205.00 Price Target
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Snap-on from a buy rating to a hold rating in a research report on Friday, January 12th. Robert W. Baird reaffirmed a buy rating and set a $220.00 price target (up from $184.00) on shares of Snap-on in a research report on Monday, January 29th. They noted that the move was a valuation call. Barrington Research raised shares of Snap-on from a market perform rating to an outperform rating and set a $185.00 price target on the stock in a research report on Monday, October 23rd. Jefferies Group reaffirmed a hold rating and set a $175.00 price target on shares of Snap-on in a research report on Friday, November 3rd. Finally, Oppenheimer reaffirmed a buy rating and set a $177.00 price target on shares of Snap-on in a research report on Thursday, October 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company. The company currently has an average rating of Buy and an average target price of $195.50.
Shares of Snap-on (SNA) traded down $1.03 during mid-day trading on Thursday, reaching $155.69. 774,354 shares of the company’s stock were exchanged, compared to its average volume of 677,048. The firm has a market capitalization of $9,499.11, a PE ratio of 16.02, a P/E/G ratio of 1.27 and a beta of 1.09. The company has a current ratio of 1.75, a quick ratio of 1.22 and a debt-to-equity ratio of 0.26. Snap-on has a 12-month low of $140.83 and a 12-month high of $185.47.
In other Snap-on news, CEO Nicholas T. Pinchuk sold 20,680 shares of the firm’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $174.55, for a total value of $3,609,694.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 3.70% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its holdings in shares of Snap-on by 8.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 3,316,671 shares of the company’s stock valued at $488,847,000 after purchasing an additional 270,905 shares during the last quarter. Schroder Investment Management Group boosted its position in Snap-on by 13.0% during the 3rd quarter. Schroder Investment Management Group now owns 1,284,391 shares of the company’s stock worth $189,306,000 after buying an additional 148,037 shares during the period. Bessemer Group Inc. boosted its position in Snap-on by 7.9% during the 4th quarter. Bessemer Group Inc. now owns 933,862 shares of the company’s stock worth $162,774,000 after buying an additional 68,432 shares during the period. Koch Industries Inc. boosted its position in Snap-on by 64,484.7% during the 2nd quarter. Koch Industries Inc. now owns 917,748 shares of the company’s stock worth $912,000 after buying an additional 916,327 shares during the period. Finally, Principal Financial Group Inc. boosted its position in Snap-on by 30.7% during the 3rd quarter. Principal Financial Group Inc. now owns 849,256 shares of the company’s stock worth $126,547,000 after buying an additional 199,647 shares during the period. 99.98% of the stock is currently owned by hedge funds and other institutional investors.
Snap-on Company Profile
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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