Snap-on (NYSE:SNA) Earns Reiterates Rating from 888

Snap-on (NYSE:SNA – Get Rating)‘s stock had its “reiterates” rating restated by 888 in a research report issued on Wednesday, Benzinga reports.

Several other research firms have also recently commented on SNA. 92 Resources reiterated a “reiterates” rating on shares of Snap-on in a research note on Wednesday. Tigress Financial restated a “buy” rating and issued a $302.00 price target (up from $298.00) on shares of Snap-on in a research report on Thursday, March 2nd. Longbow Research raised shares of Snap-on from an “underperform” rating to a “neutral” rating in a research report on Friday, April 21st. Roth Capital raised shares of Snap-on from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th. Finally, Roth Mkm raised Snap-on from a “neutral” rating to a “buy” rating and upped their target price for the company from $278.00 to $298.00 in a report on Thursday, May 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $260.57.

Snap-on Trading Up 0.6 %

SNA traded up $1.59 during trading on Wednesday, hitting $257.35. The company’s stock had a trading volume of 191,777 shares, compared to its average volume of 306,285. The firm’s 50 day moving average price is $248.45 and its 200-day moving average price is $243.23. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.48 and a quick ratio of 2.43. Snap-on has a twelve month low of $190.08 and a twelve month high of $265.02. The stock has a market cap of $13.62 billion, a PE ratio of 14.76, a PEG ratio of 2.07 and a beta of 1.09.

Snap-on (NYSE:SNA – Get Rating) last issued its earnings results on Thursday, April 20th. The company reported $4.60 earnings per share for the quarter, topping the consensus estimate of $4.14 by $0.46. The business had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.13 billion. Snap-on had a return on equity of 21.17% and a net margin of 20.60%. The business’s quarterly revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $4.00 EPS. On average, analysts expect that Snap-on will post 17.74 earnings per share for the current year.

Insider Activity

In other Snap-on news, VP Richard Thomas Miller sold 300 shares of Snap-on stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $263.05, for a total transaction of $78,915.00. Following the transaction, the vice president now owns 2,042 shares of the company’s stock, valued at approximately $537,148.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Richard Thomas Miller sold 300 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $263.05, for a total transaction of $78,915.00. Following the transaction, the vice president now directly owns 2,042 shares in the company, valued at approximately $537,148.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,800 shares of the stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $236.05, for a total value of $5,381,940.00. Following the sale, the chief executive officer now owns 676,929 shares of the company’s stock, valued at $159,789,090.45. The disclosure for this sale can be found here. Insiders sold 56,884 shares of company stock worth $14,194,715 over the last quarter. Corporate insiders own 4.20% of the company’s stock.

Hedge Funds Weigh In On Snap-on

Hedge funds have recently bought and sold shares of the business. Carl Stuart Investment Advisor Inc. bought a new position in Snap-on in the 1st quarter worth approximately $208,645,000. Clear Street Markets LLC increased its stake in Snap-on by 96.3% in the first quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock valued at $26,000 after acquiring an additional 52 shares during the period. Copeland Capital Management LLC raised its holdings in shares of Snap-on by 653.3% in the 4th quarter. Copeland Capital Management LLC now owns 113 shares of the company’s stock worth $25,000 after buying an additional 98 shares in the last quarter. Ridgewood Investments LLC acquired a new position in Snap-on in the first quarter valued at about $29,000. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock worth $27,000 after acquiring an additional 47 shares in the last quarter. 85.19% of the stock is owned by institutional investors and hedge funds.

About Snap-on

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Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education.