Snap-on (NYSE:SNA) Earns “Outperform” Rating from Barrington Research

Barrington Research restated their outperform rating on shares of Snap-on (NYSE:SNA) in a research note published on Monday, Benzinga reports. Barrington Research currently has a $325.00 price target on the stock.

Separately, Tigress Financial reiterated a buy rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $306.00.

Snap-on Trading Up 0.4 %

Shares of SNA opened at $283.50 on Monday. The business has a 50-day moving average of $283.74 and a 200 day moving average of $278.27. Snap-on has a fifty-two week low of $239.08 and a fifty-two week high of $298.49. The firm has a market cap of $14.98 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 2.05 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.88.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 8th. The company reported $4.75 earnings per share for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.42 EPS. As a group, research analysts forecast that Snap-on will post 19.22 EPS for the current year.

Snap-on Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were given a $1.86 dividend. The ex-dividend date was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a yield of 2.62%. Snap-on’s payout ratio is 39.68%.

Insider Buying and Selling

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total value of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares in the company, valued at $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Anup R. Banerjee sold 12,397 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $283.13, for a total value of $3,509,962.61. Following the transaction, the senior vice president now directly owns 11,420 shares in the company, valued at $3,233,344.60. The disclosure for this sale can be found here. Insiders sold 47,368 shares of company stock worth $13,399,449 in the last quarter. 4.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Snap-on

A number of institutional investors have recently modified their holdings of SNA. Confluence Investment Management LLC bought a new position in shares of Snap-on during the first quarter valued at $173,451,000. Norges Bank purchased a new stake in Snap-on in the fourth quarter worth about $145,665,000. Nordea Investment Management AB increased its position in Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company’s stock worth $249,743,000 after buying an additional 298,727 shares in the last quarter. Wellington Management Group LLP increased its position in Snap-on by 7,194.3% in the first quarter. Wellington Management Group LLP now owns 241,149 shares of the company’s stock worth $49,551,000 after buying an additional 237,843 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its position in Snap-on by 25.1% in the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company’s stock worth $188,355,000 after buying an additional 147,997 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.