William Blair Downgrades Snap One (NASDAQ:SNPO) to Market Perform

William Blair cut shares of Snap One (NASDAQ:SNPO) from an outperform rating to a market perform rating in a report released on Monday, MarketBeat.com reports.

Separately, UBS Group lowered their price objective on shares of Snap One from $14.00 to $12.00 and set a buy rating for the company in a research report on Tuesday, February 27th. Five investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap One currently has a consensus rating of Hold and a consensus price target of $11.05.

Snap One Price Performance

NASDAQ:SNPO opened at $10.58 on Monday. Snap One has a 52 week low of $6.70 and a 52 week high of $12.06. The stock’s fifty day moving average is $8.51 and its two-hundred day moving average is $8.35. The company has a market capitalization of $809.79 million, a P/E ratio of -37.78 and a beta of 1.27. The company has a quick ratio of 0.79, a current ratio of 2.40 and a debt-to-equity ratio of 0.65.

Snap One (NASDAQ:SNPO) last issued its quarterly earnings data on Thursday, March 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.02. The firm had revenue of $264.39 million for the quarter, compared to analyst estimates of $267.62 million. Snap One had a negative net margin of 2.01% and a positive return on equity of 2.77%. Equities analysts expect that Snap One will post 0.38 EPS for the current year.

Institutional Trading of Snap One

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Barclays PLC boosted its holdings in Snap One by 533.0% in the 4th quarter. Barclays PLC now owns 4,836 shares of the company’s stock valued at $35,000 after purchasing an additional 4,072 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Snap One by 411.2% in the third quarter. Tower Research Capital LLC TRC now owns 6,001 shares of the company’s stock valued at $55,000 after buying an additional 4,827 shares in the last quarter. UBS Group AG grew its holdings in Snap One by 2,779.6% during the fourth quarter. UBS Group AG now owns 7,890 shares of the company’s stock worth $58,000 after acquiring an additional 7,616 shares during the period. Citigroup Inc. lifted its holdings in Snap One by 1,447.8% in the second quarter. Citigroup Inc. now owns 5,928 shares of the company’s stock valued at $69,000 after acquiring an additional 5,545 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Snap One during the 4th quarter worth $86,000. Hedge funds and other institutional investors own 92.67% of the company’s stock.

Snap One Company Profile

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.