Snap-on (NYSE:SNA) Price Target Cut to $282.00 by Analysts at Robert W. Baird

Snap-on (NYSE:SNA) had its price objective lowered by analysts at Robert W. Baird from $295.00 to $282.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 7.73% from the stock’s current price.

Other research analysts have also issued reports about the stock. Barrington Research reiterated an “outperform” rating and issued a $325.00 price target on shares of Snap-on in a research note on Monday. Tigress Financial reiterated a “buy” rating and issued a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. Finally, Roth Mkm reiterated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Thursday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $301.40.

Snap-on Trading Down 7.7 %

NYSE:SNA opened at $261.76 on Friday. The company has a 50-day moving average price of $283.65 and a 200-day moving average price of $278.16. Snap-on has a 12 month low of $239.08 and a 12 month high of $298.49. The company has a current ratio of 3.88, a quick ratio of 2.81 and a debt-to-equity ratio of 0.23. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 13.96, a P/E/G ratio of 2.03 and a beta of 0.99.

Snap-on (NYSE:SNA) last posted its earnings results on Thursday, February 8th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. Snap-on had a net margin of 21.38% and a return on equity of 20.89%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the company posted $4.42 EPS. The company’s quarterly revenue was up 3.5% compared to the same quarter last year. Equities analysts predict that Snap-on will post 19.22 EPS for the current year.

Insider Buying and Selling at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the firm’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the transaction, the chief executive officer now owns 742,383 shares of the company’s stock, valued at $213,420,264.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the transaction, the vice president now directly owns 3,213 shares in the company, valued at approximately $957,988.08. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,368 shares of company stock worth $13,399,449. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Snap-on

Several large investors have recently added to or reduced their stakes in SNA. MetLife Investment Management LLC lifted its holdings in Snap-on by 22.4% during the first quarter. MetLife Investment Management LLC now owns 14,527 shares of the company’s stock valued at $2,985,000 after purchasing an additional 2,657 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Snap-on by 6.0% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,150 shares of the company’s stock valued at $1,469,000 after purchasing an additional 407 shares in the last quarter. Sei Investments Co. lifted its holdings in Snap-on by 11.3% during the first quarter. Sei Investments Co. now owns 125,365 shares of the company’s stock valued at $25,727,000 after purchasing an additional 12,720 shares in the last quarter. Aviva PLC lifted its holdings in Snap-on by 12.3% during the first quarter. Aviva PLC now owns 33,102 shares of the company’s stock valued at $6,802,000 after purchasing an additional 3,636 shares in the last quarter. Finally, Prudential PLC purchased a new position in Snap-on during the first quarter valued at approximately $302,000. Hedge funds and other institutional investors own 84.88% of the company’s stock.

About Snap-on

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.