Snap-on (NYSE:SNA) Announces Quarterly Earnings Results

Snap-on (NYSE:SNAGet Free Report) posted its earnings results on Thursday. The company reported $4.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.66 by $0.09, RTT News reports. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the business posted $4.42 earnings per share. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year.

Snap-on Price Performance

NYSE:SNA opened at $262.43 on Friday. The business’s 50-day moving average price is $285.43 and its 200 day moving average price is $271.77. The firm has a market cap of $13.85 billion, a P/E ratio of 14.00, a PEG ratio of 1.68 and a beta of 1.00. Snap-on has a 52-week low of $226.68 and a 52-week high of $297.26. The company has a quick ratio of 2.62, a current ratio of 3.88 and a debt-to-equity ratio of 0.23.

Insider Buying and Selling

In related news, SVP Thomas J. Ward sold 1,435 shares of Snap-on stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $289.91, for a total transaction of $416,020.85. Following the transaction, the senior vice president now directly owns 48,684 shares of the company’s stock, valued at $14,113,978.44. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Thomas J. Ward sold 5,921 shares of Snap-on stock in a transaction dated Wednesday, December 20th. The stock was sold at an average price of $289.52, for a total transaction of $1,714,247.92. Following the transaction, the senior vice president now directly owns 48,684 shares of the company’s stock, valued at $14,094,991.68. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Thomas J. Ward sold 1,435 shares of Snap-on stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $289.91, for a total value of $416,020.85. Following the transaction, the senior vice president now directly owns 48,684 shares in the company, valued at $14,113,978.44. The disclosure for this sale can be found here. Insiders have sold a total of 75,998 shares of company stock valued at $21,666,210 over the last three months. Company insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Snap-on

A number of institutional investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board increased its stake in Snap-on by 12.2% in the 3rd quarter. Public Sector Pension Investment Board now owns 5,664 shares of the company’s stock worth $1,445,000 after purchasing an additional 618 shares in the last quarter. Creative Planning increased its stake in Snap-on by 2.7% in the 3rd quarter. Creative Planning now owns 8,613 shares of the company’s stock worth $2,197,000 after purchasing an additional 227 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Snap-on by 4.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 49,239 shares of the company’s stock worth $12,559,000 after purchasing an additional 1,900 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Snap-on by 1.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 102,851 shares of the company’s stock worth $26,387,000 after purchasing an additional 1,447 shares in the last quarter. Finally, Orion Portfolio Solutions LLC grew its stake in Snap-on by 583.0% during the 2nd quarter. Orion Portfolio Solutions LLC now owns 5,539 shares of the company’s stock valued at $1,596,000 after acquiring an additional 4,728 shares in the last quarter. Hedge funds and other institutional investors own 83.90% of the company’s stock.

Analysts Set New Price Targets

SNA has been the topic of a number of recent analyst reports. Barrington Research restated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research note on Thursday. Roth Mkm restated a “buy” rating and set a $324.00 price objective on shares of Snap-on in a research note on Thursday, October 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $306.00.

Get Our Latest Stock Analysis on Snap-on

Snap-on Company Profile

(Get Free Report)

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.

See Also

Earnings History for Snap-on (NYSE:SNA)

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