Snap-on Incorporated (NYSE:SNA) Receives $316.75 Average Target Price from Analysts

Snap-on Incorporated (NYSE:SNAGet Free Report) has received a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price target among analysts that have covered the stock in the last year is $316.75.

Several equities research analysts have recently weighed in on the company. Roth Mkm reiterated a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Thursday, April 18th. Barrington Research restated an “outperform” rating and set a $325.00 price target on shares of Snap-on in a research report on Wednesday, May 22nd. Finally, Robert W. Baird lowered their price objective on Snap-on from $295.00 to $282.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th.

View Our Latest Stock Analysis on Snap-on

Snap-on Stock Performance

Shares of SNA stock opened at $269.31 on Friday. The firm’s 50 day moving average is $272.93 and its 200 day moving average is $280.72. The stock has a market capitalization of $14.20 billion, a P/E ratio of 14.13, a PEG ratio of 1.85 and a beta of 0.99. Snap-on has a 12 month low of $249.84 and a 12 month high of $298.49. The company has a current ratio of 3.82, a quick ratio of 2.83 and a debt-to-equity ratio of 0.23.

Snap-on (NYSE:SNAGet Free Report) last posted its earnings results on Thursday, April 18th. The company reported $4.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business posted $4.60 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that Snap-on will post 19.01 earnings per share for the current year.

Snap-on Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 10th. Investors of record on Monday, May 20th were issued a dividend of $1.86 per share. The ex-dividend date was Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.76%. Snap-on’s dividend payout ratio is 39.03%.

Insiders Place Their Bets

In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares in the company, valued at $957,988.08. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Aldo John Pagliari sold 5,978 shares of the company’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the transaction, the chief financial officer now directly owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The disclosure for this sale can be found here. Insiders sold a total of 39,336 shares of company stock valued at $10,563,314 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snap-on

Several hedge funds have recently made changes to their positions in SNA. Royal London Asset Management Ltd. raised its stake in Snap-on by 12.7% in the third quarter. Royal London Asset Management Ltd. now owns 22,537 shares of the company’s stock worth $5,751,000 after buying an additional 2,542 shares in the last quarter. Bridgefront Capital LLC purchased a new position in shares of Snap-on during the 4th quarter worth approximately $1,119,000. Goldman Sachs Group Inc. raised its position in shares of Snap-on by 11.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock worth $78,401,000 after acquiring an additional 28,566 shares in the last quarter. Caprock Group LLC purchased a new position in shares of Snap-on in the 4th quarter valued at approximately $1,203,000. Finally, Kingsview Wealth Management LLC boosted its position in shares of Snap-on by 42.0% during the fourth quarter. Kingsview Wealth Management LLC now owns 26,456 shares of the company’s stock valued at $7,641,000 after purchasing an additional 7,830 shares in the last quarter. 84.88% of the stock is owned by hedge funds and other institutional investors.

About Snap-on

(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.

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Analyst Recommendations for Snap-on (NYSE:SNA)

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