Snap-On Incorporated (NYSE:SNA) Receives $350.83 Average Price Target from Brokerages

Shares of Snap-On Incorporated (NYSE:SNA) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $350.83.

A number of research analysts have recently weighed in on SNA shares. Tigress Financial raised their target price on Snap-On from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-On in a research note on Monday, May 19th. Longbow Research upgraded shares of Snap-On from a “neutral” rating to a “buy” rating and set a $400.00 target price for the company in a research note on Monday, March 31st. Wall Street Zen upgraded shares of Snap-On from a “hold” rating to a “buy” rating in a report on Friday, May 16th. Finally, Robert W. Baird cut their price target on shares of Snap-On from $349.00 to $320.00 and set a “neutral” rating on the stock in a report on Monday, April 21st.

Snap-On Stock Performance

NYSE SNA opened at $305.61 on Friday. The company has a market cap of $15.98 billion, a P/E ratio of 16.00, a PEG ratio of 2.19 and a beta of 0.78. The company has a fifty day simple moving average of $317.36 and a 200 day simple moving average of $332.22. The company has a current ratio of 4.14, a quick ratio of 3.18 and a debt-to-equity ratio of 0.21. Snap-On has a 12-month low of $252.98 and a 12-month high of $373.90.

Snap-On (NYSE:SNA) last posted its earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-On had a return on equity of 18.60% and a net margin of 21.42%. The business had revenue of $1.14 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm earned $4.91 earnings per share. Sell-side analysts predict that Snap-On will post 19.79 earnings per share for the current fiscal year.

Snap-On Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 10th. Stockholders of record on Tuesday, May 20th were paid a dividend of $2.14 per share. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $8.56 annualized dividend and a dividend yield of 2.80%. Snap-On’s payout ratio is currently 44.82%.

Insider Buying and Selling at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 22,700 shares of Snap-On stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the sale, the chief executive officer now owns 793,932 shares of the company’s stock, valued at approximately $266,221,278.24. This trade represents a 2.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 5,553 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the transaction, the chief financial officer now owns 109,560 shares of the company’s stock, valued at $35,808,590.40. This represents a 4.82% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,515 shares of company stock valued at $17,094,296. Company insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management purchased a new position in Snap-On during the first quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new position in shares of Snap-On during the 4th quarter valued at $26,000. Golden State Wealth Management LLC increased its holdings in shares of Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after purchasing an additional 80 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of Snap-On by 248.3% in the first quarter. Cullen Frost Bankers Inc. now owns 101 shares of the company’s stock worth $34,000 after purchasing an additional 72 shares during the period. Finally, Ransom Advisory Ltd purchased a new stake in shares of Snap-On in the first quarter worth $34,000. Institutional investors 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.