Snap One (NASDAQ:SNPO) Stock Rating Lowered by William Blair

Snap One (NASDAQ:SNPO) was downgraded by William Blair from an “outperform” rating to a “market perform” rating in a research report issued on Monday, MarketBeat Ratings reports.

Separately, UBS Group dropped their target price on Snap One from $14.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $11.13.

Snap One Stock Performance

Shares of Snap One stock opened at $10.54 on Monday. The firm has a market cap of $806.73 million, a price-to-earnings ratio of -37.64 and a beta of 1.27. The stock’s 50-day moving average is $8.42 and its 200-day moving average is $8.32. Snap One has a one year low of $6.70 and a one year high of $12.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 2.40 and a quick ratio of 0.79.

Snap One (NASDAQ:SNPO) last issued its quarterly earnings results on Thursday, March 7th. The company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.02. Snap One had a positive return on equity of 2.77% and a negative net margin of 2.01%. The company had revenue of $264.39 million for the quarter, compared to analyst estimates of $267.62 million. Equities analysts predict that Snap One will post 0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Snap One

A number of institutional investors have recently bought and sold shares of SNPO. Vanguard Group Inc. increased its position in Snap One by 29.6% during the first quarter. Vanguard Group Inc. now owns 895,348 shares of the company’s stock worth $13,206,000 after buying an additional 204,692 shares during the last quarter. BlackRock Inc. increased its position in Snap One by 20.8% during the first quarter. BlackRock Inc. now owns 900,656 shares of the company’s stock worth $13,283,000 after buying an additional 154,841 shares during the last quarter. Citadel Advisors LLC acquired a new position in Snap One during the second quarter worth approximately $475,000. Credit Suisse AG acquired a new position in shares of Snap One in the second quarter valued at approximately $357,000. Finally, State Street Corp grew its position in shares of Snap One by 8.4% in the first quarter. State Street Corp now owns 381,258 shares of the company’s stock valued at $5,624,000 after purchasing an additional 29,596 shares during the last quarter. Institutional investors and hedge funds own 92.67% of the company’s stock.

About Snap One

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.