Robert W. Baird cut shares of Snap-on (NYSE:SNA) from an outperform rating to a neutral rating in a report issued on Wednesday morning, Benzinga reports. The firm currently has $160.00 price objective on the stock, down from their previous price objective of $186.00.

SNA has been the topic of a number of other research reports. Zacks Investment Research lowered Snap-on from a hold rating to a sell rating in a report on Monday, February 4th. TheStreet lowered Snap-on from a b rating to a c+ rating in a report on Wednesday, December 19th. Finally, Bank of America initiated coverage on Snap-on in a report on Friday, December 21st. They issued a buy rating and a $165.00 target price on the stock. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $185.33.

SNA stock opened at $155.23 on Wednesday. Snap-on has a twelve month low of $135.29 and a twelve month high of $189.46. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.62 and a current ratio of 2.33. The company has a market capitalization of $8.55 billion, a PE ratio of 13.22, a P/E/G ratio of 1.45 and a beta of 1.26.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 7th. The company reported $3.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $3.03. Snap-on had a return on equity of 21.62% and a net margin of 18.18%. The company had revenue of $952.50 million for the quarter, compared to analyst estimates of $968.74 million. During the same quarter last year, the company earned $2.69 earnings per share. The company’s revenue for the quarter was down 2.3% on a year-over-year basis. Equities research analysts anticipate that Snap-on will post 12.31 EPS for the current fiscal year.

In related news, VP Iain Boyd sold 26,500 shares of the stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $158.79, for a total transaction of $4,207,935.00. Following the completion of the sale, the vice president now directly owns 19,038 shares of the company’s stock, valued at $3,023,044.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Thomas L. Kassouf sold 18,657 shares of the stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $161.24, for a total value of $3,008,254.68. Following the sale, the senior vice president now directly owns 3,920 shares of the company’s stock, valued at $632,060.80. The disclosure for this sale can be found here. Insiders sold 57,327 shares of company stock worth $9,123,183 in the last 90 days. Corporate insiders own 3.90% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of SNA. CSat Investment Advisory L.P. increased its position in shares of Snap-on by 81.4% during the fourth quarter. CSat Investment Advisory L.P. now owns 205 shares of the company’s stock valued at $30,000 after acquiring an additional 92 shares during the last quarter. Riverview Trust Co purchased a new stake in shares of Snap-on during the fourth quarter valued at approximately $33,000. Tributary Capital Management LLC purchased a new stake in shares of Snap-on during the fourth quarter valued at approximately $44,000. Private Capital Group LLC increased its position in Snap-on by 98.6% in the fourth quarter. Private Capital Group LLC now owns 437 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the last quarter. Finally, Atlas Capital Advisors LLC increased its position in Snap-on by 1,158.3% in the fourth quarter. Atlas Capital Advisors LLC now owns 453 shares of the company’s stock worth $66,000 after buying an additional 417 shares during the last quarter.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Analyst Recommendations for Snap-on (NYSE:SNA)

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