Snap-On Incorporated (NYSE:SNA) Stock Has Average Price Target of $434.00

Snap-On Incorporated (NYSE:SNA) has received an average rating of “Moderate Buy” from the five ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $434.00.

Several brokerages have recently issued reports on SNA. Roth Capital reissued a “buy” rating and set a $461.00 price target (up from $409.00) on shares of Snap-On in a report on Friday, July 24th. Tigress Financial upped their price target on shares of Snap-On from $445.00 to $485.00 and gave the stock a “buy” rating in a research report on Friday, July 31st. Robert W. Baird set a $385.00 price objective on shares of Snap-On in a report on Friday, October 23rd. Weiss Ratings downgraded shares of Snap-On from a “buy (b)” rating to a “buy (b-)” rating in a research report on Friday. Finally, Barclays reduced their target price on shares of Snap-On from $435.00 to $405.00 and set an “overweight” rating for the company in a research note on Monday, October 26th.

Snap-On Price Performance

Shares of NYSE:SNA opened at $355.87 on Tuesday. The company has a market cap of $18.36 billion, a PE ratio of 18.51, a P/E/G ratio of 2.53 and a beta of 0.71. Snap-On has a fifty-two week low of $320.80 and a fifty-two week high of $423.02. The firm has a 50-day simple moving average of $371.66 and a 200 day simple moving average of $380.16. The company has a quick ratio of 2.71, a current ratio of 3.55 and a debt-to-equity ratio of 0.14.

Snap-On (NYSE:SNA) last issued its earnings results on Thursday, October 22nd. The company reported $4.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.93 by ($0.29). The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 16.77% and a net margin of 20.82%. The business’s revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $4.71 EPS. On average, sell-side analysts anticipate that Snap-On will post 19.24 EPS for the current year.

Snap-On Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Wednesday, August 19th were given a dividend of $2.44 per share. The ex-dividend date was Wednesday, August 19th. This represents a $9.76 annualized dividend and a dividend yield of 2.7%. Snap-On’s payout ratio is currently 50.75%.

Insider Transactions at Snap-On

In other Snap-On news, VP Marty V. Ozolins sold 800 shares of Snap-On stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $400.00, for a total transaction of $320,000.00. Following the sale, the vice president owned 1,526 shares of the company’s stock, valued at $610,400. The trade was a 34.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Aldo Pagliari sold 5,531 shares of the business’s stock in a transaction on Thursday, August 13th. The stock was sold at an average price of $404.25, for a total value of $2,235,906.75. Following the transaction, the chief financial officer owned 120,644 shares of the company’s stock, valued at $48,770,337. This trade represents a 4.38% 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. Over the last three months, insiders sold 29,220 shares of company stock worth $11,704,411. Company insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. BlackRock Inc. bought a new stake in shares of Snap-On in the 2nd quarter worth approximately $1,715,363,000. State Street Corp lifted its stake in Snap-On by 2.9% during the second quarter. State Street Corp now owns 2,356,671 shares of the company’s stock valued at $948,324,000 after purchasing an additional 66,754 shares during the last quarter. First Trust Advisors LP boosted its holdings in Snap-On by 3.3% during the first quarter. First Trust Advisors LP now owns 2,033,129 shares of the company’s stock worth $738,473,000 after buying an additional 65,521 shares in the last quarter. Bank of America Corp DE boosted its holdings in Snap-On by 0.4% during the first quarter. Bank of America Corp DE now owns 999,497 shares of the company’s stock worth $363,037,000 after buying an additional 3,770 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Snap-On by 2.0% during the first quarter. Dimensional Fund Advisors LP now owns 880,951 shares of the company’s stock worth $319,955,000 after buying an additional 17,337 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

Snap-On Company Profile

Snap-on Incorporated is a manufacturer and distributor of professional tools, equipment, diagnostics, and related services. Its offerings include hand and power tools, tool storage, vehicle repair equipment, diagnostic systems, and repair information and management software. The company serves professional users who work in automotive repair, heavy-duty transportation, aviation, agriculture, construction, industrial production, government, and other technical fields.

Snap-on markets products under the Snap-on brand and other brands, including Blue-Point, Bahco, and Williams.