Snap-on (SNA) Shares Gap Down Following Analyst Downgrade
Snap-on Incorporated (NYSE:SNA)’s share price gapped down prior to trading on Friday after Robert W. Baird lowered their price target on the stock from $216.00 to $190.00. The stock had previously closed at $143.95, but opened at $151.47. Robert W. Baird currently has an outperform rating on the stock. Snap-on shares last traded at $149.37, with a volume of 36155 shares traded.
Several other research firms also recently commented on SNA. Barrington Research restated a “buy” rating on shares of Snap-on in a research note on Monday, July 16th. Zacks Investment Research upgraded shares of Snap-on from a “sell” rating to a “hold” rating and set a $192.00 price target for the company in a research note on Monday, July 23rd. Northcoast Research downgraded shares of Snap-on from a “buy” rating to a “neutral” rating in a research note on Tuesday, July 24th. Finally, B. Riley set a $205.00 price target on shares of Snap-on and gave the stock a “buy” rating in a research note on Tuesday, July 17th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $192.00.
In other Snap-on news, SVP Aldo John Pagliari sold 6,480 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $177.89, for a total value of $1,152,727.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Nicholas T. Pinchuk sold 21,624 shares of the business’s stock in a transaction on Tuesday, August 7th. The stock was sold at an average price of $169.79, for a total transaction of $3,671,538.96. Following the completion of the transaction, the chairman now owns 443,955 shares of the company’s stock, valued at approximately $75,379,119.45. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,395 shares of company stock valued at $5,553,865. Insiders own 4.00% of the company’s stock.
The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.60 and a current ratio of 2.31. The company has a market capitalization of $8.54 billion, a P/E ratio of 14.87, a price-to-earnings-growth ratio of 1.24 and a beta of 1.15.
Snap-on (NYSE:SNA) last issued its earnings results on Thursday, October 18th. The company reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.02. The firm had revenue of $898.10 million during the quarter, compared to the consensus estimate of $928.73 million. Snap-on had a net margin of 16.86% and a return on equity of 21.35%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.45 earnings per share. As a group, research analysts expect that Snap-on Incorporated will post 11.81 earnings per share for the current fiscal year.
Snap-on Company Profile (NYSE:SNA)
Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.
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