Snap-On (SNA) Receives Buy Rating from B. Riley
Several other research analysts have also weighed in on SNA. Zacks Investment Research upgraded shares of Snap-On from a hold rating to a buy rating and set a $193.00 price objective on the stock in a research note on Wednesday, December 20th. Jefferies Group restated a hold rating and set a $175.00 price objective on shares of Snap-On in a research note on Friday, November 3rd. Barrington Research upgraded shares of Snap-On from a market perform rating to an outperform rating and set a $185.00 price objective on the stock in a research note on Monday, October 23rd. Oppenheimer restated a buy rating and set a $177.00 price objective on shares of Snap-On in a research note on Thursday, October 19th. Finally, FBR & Co restated a buy rating and set a $205.00 price objective on shares of Snap-On in a research note on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Snap-On currently has an average rating of Buy and an average price target of $193.56.
Shares of Snap-On (NYSE:SNA) traded up $2.28 during mid-day trading on Thursday, reaching $178.45. 407,800 shares of the company’s stock traded hands, compared to its average volume of 500,650. The company has a quick ratio of 1.22, a current ratio of 1.75 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 $181.73. The firm has a market cap of $10,350.00, a price-to-earnings ratio of 18.34, a P/E/G ratio of 1.36 and a beta of 1.14.
In other news, Chairman Nicholas T. Pinchuk sold 20,680 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $174.55, for a total transaction 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 insiders.
Several hedge funds have recently made changes to their positions in SNA. Koch Industries Inc. boosted its holdings in shares of 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. Renaissance Technologies LLC boosted its holdings in Snap-On by 1,814.9% in the 2nd quarter. Renaissance Technologies LLC now owns 436,600 shares of the company’s stock valued at $68,983,000 after purchasing an additional 413,800 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Snap-On by 107.4% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 694,612 shares of the company’s stock valued at $103,506,000 after purchasing an additional 359,772 shares during the period. Findlay Park Partners LLP boosted its holdings in Snap-On by 64.4% in the 3rd quarter. Findlay Park Partners LLP now owns 715,000 shares of the company’s stock valued at $106,542,000 after purchasing an additional 280,000 shares during the period. Finally, JPMorgan Chase & Co. boosted its holdings in Snap-On by 8.9% in 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 period. 99.40% of the stock is owned by institutional investors and hedge funds.
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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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