Snap-on’s (SNA) Outperform Rating Reiterated at Barrington Research

Barrington Research reaffirmed their outperform rating on shares of Snap-on (NYSE:SNA) in a report issued on Friday, Benzinga reports. They currently have a $325.00 target price on the stock.

Other analysts have also recently issued reports about the company. Roth Mkm restated a buy rating and issued a $324.00 target price on shares of Snap-on in a report on Tuesday, July 16th. Tigress Financial restated a buy rating and issued a $336.00 target price on shares of Snap-on in a report on Thursday, July 25th. Finally, Robert W. Baird dropped their target price on Snap-on from $282.00 to $275.00 and set a neutral rating for the company in a report on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Snap-on presently has a consensus rating of Moderate Buy and a consensus target price of $315.00.

Snap-on Stock Up 0.6 %

Shares of SNA opened at $284.80 on Friday. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. Snap-on has a one year low of $249.84 and a one year high of $298.49. The stock has a market capitalization of $15.01 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.95 and a beta of 0.98. The stock has a 50 day moving average price of $277.51 and a 200 day moving average price of $276.50.

Snap-on (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the previous year, the business earned $4.89 earnings per share. The firm’s revenue for the quarter was down 1.0% on a year-over-year basis. Equities research analysts forecast that Snap-on will post 18.95 earnings per share for the current fiscal year.

Snap-on declared that its Board of Directors has approved a stock buyback plan on Thursday, August 8th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 3.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its stock is undervalued.

Snap-on Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were paid a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Monday, August 19th. Snap-on’s dividend payout ratio (DPR) is presently 39.03%.

Insider Activity

In other news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Aldo John Pagliari sold 4,473 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the transaction, the chief financial officer now owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total value of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at approximately $204,138,160.05. The disclosure for this sale can be found here. Insiders have sold a total of 29,804 shares of company stock valued at $8,077,390 in the last quarter. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Snap-on

Hedge funds have recently bought and sold shares of the company. TrinityPoint Wealth LLC increased its holdings in Snap-on by 8.0% during the 4th quarter. TrinityPoint Wealth LLC now owns 3,734 shares of the company’s stock worth $1,078,000 after purchasing an additional 276 shares during the period. Norges Bank purchased a new stake in Snap-on during the 4th quarter worth about $145,665,000. UBS Group AG increased its holdings in Snap-on by 37.2% during the 4th quarter. UBS Group AG now owns 138,803 shares of the company’s stock worth $40,092,000 after purchasing an additional 37,667 shares during the period. Coldstream Capital Management Inc. increased its holdings in Snap-on by 91.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,512 shares of the company’s stock worth $437,000 after purchasing an additional 723 shares during the period. Finally, Corient Private Wealth LLC increased its holdings in Snap-on by 54.7% during the 4th quarter. Corient Private Wealth LLC now owns 22,379 shares of the company’s stock worth $6,464,000 after purchasing an additional 7,915 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.

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.