Snap-on (SNA) – Investment Analysts’ Weekly Ratings Changes

Several brokerages have updated their recommendations and price targets on shares of Snap-on (NYSE: SNA) in the last few weeks:

• 7/25/2024 – Snap-on had its “buy” rating reaffirmed by analysts at Tigress Financial. They now have a $336.00 price target on the stock.
• 7/16/2024 – Snap-on had its “outperform” rating reaffirmed by analysts at Barrington Research. They now have a $325.00 price target on the stock.
• 7/16/2024 – Snap-on had its “buy” rating reaffirmed by analysts at Roth Mkm. They now have a $324.00 price target on the stock.
• 7/12/2024 – Snap-on had its price target lowered by analysts at Robert W. Baird from $282.00 to $275.00. They now have a “neutral” rating on the stock.

Snap-on Price Performance

Shares of SNA stock opened at $285.24 on Wednesday. The stock’s fifty day simple moving average is $267.86 and its 200 day simple moving average is $277.14. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The firm has a market cap of $15.03 billion, a price-to-earnings ratio of 14.97, a P/E/G ratio of 1.94 and a beta of 0.98. Snap-on Incorporated has a one year low of $249.84 and a one year high of $298.49.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating the consensus estimate of $4.94 by $0.13. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. Snap-on’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.89 EPS. On average, analysts expect that Snap-on Incorporated will post 18.97 earnings per share for the current fiscal year.

Insider Activity at Snap-on

In related news, CFO Aldo John Pagliari sold 5,978 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the sale, the chief financial officer now owns 97,699 shares of the company’s stock, valued at approximately $27,048,945.14. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of the business’s stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the transaction, the chief financial officer now owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jesus Arregui sold 8,434 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total value of $2,236,443.78. Following the completion of the transaction, the senior vice president now directly owns 252 shares in the company, valued at approximately $66,822.84. The disclosure for this sale can be found here. Insiders have sold a total of 38,632 shares of company stock valued at $10,353,409 in the last 90 days. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snap-on

Institutional investors and hedge funds have recently bought and sold shares of the business. Bridgefront Capital LLC acquired a new position in Snap-on in the fourth quarter worth $1,119,000. Rockland Trust Co. acquired a new position in shares of Snap-on during the first quarter valued at $889,000. Goldman Sachs Group Inc. lifted its stake in shares of Snap-on by 11.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock valued at $78,401,000 after acquiring an additional 28,566 shares during the period. Kingsview Wealth Management LLC lifted its stake 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 acquiring an additional 7,830 shares during the period. Finally, Teacher Retirement System of Texas lifted its stake in shares of Snap-on by 36.9% during the fourth quarter. Teacher Retirement System of Texas now owns 70,740 shares of the company’s stock valued at $20,433,000 after acquiring an additional 19,061 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

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.