Snap-On Incorporated (NYSE:SNA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Snap-On Incorporated (NYSE:SNA) have been given an average rating of “Moderate Buy” by the seven research firms that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $365.00.

A number of equities analysts have recently issued reports on SNA shares. Tigress Financial increased their target price on Snap-On from $395.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Bank of America increased their price objective on Snap-On from $265.00 to $285.00 and gave the stock an “underperform” rating in a research report on Friday, July 18th. Robert W. Baird boosted their target price on shares of Snap-On from $355.00 to $365.00 and gave the stock a “neutral” rating in a research report on Friday, October 17th. Roth Capital reaffirmed a “buy” rating and set a $385.00 price target on shares of Snap-On in a research note on Friday, October 17th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Snap-On in a research note on Wednesday, October 8th.

Snap-On Stock Down 0.2%

SNA stock opened at $342.92 on Tuesday. The stock has a market capitalization of $17.83 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. The company has a fifty day moving average of $337.67 and a 200-day moving average of $326.52. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.37 and a current ratio of 4.40. Snap-On has a one year low of $289.81 and a one year high of $373.89.

Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, October 16th. The company reported $4.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.59 by $0.12. The firm had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The firm’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same period in the prior year, the company posted $4.70 earnings per share. As a group, analysts expect that Snap-On will post 19.79 EPS for the current year.

Snap-On Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Stockholders of record on Friday, November 21st will be paid a dividend of $2.44 per share. This is a positive change from Snap-On’s previous quarterly dividend of $2.14. The ex-dividend date of this dividend is Friday, November 21st. This represents a $9.76 annualized dividend and a dividend yield of 2.8%. Snap-On’s dividend payout ratio is presently 44.89%.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the completion of the transaction, the chief financial officer directly owned 111,667 shares of the company’s stock, valued at approximately $36,557,542.46. The trade was a 4.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Snap-On

Several institutional investors and hedge funds have recently made changes to their positions in SNA. Tobam purchased a new position in Snap-On during the 2nd quarter valued at about $29,000. Ameritas Advisory Services LLC purchased a new position in shares of Snap-On during the 2nd quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC increased its stake in shares of Snap-On by 97.9% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company’s stock worth $30,000 after purchasing an additional 47 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Snap-On by 248.3% during the 1st 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 last quarter. Finally, Ransom Advisory Ltd purchased a new stake in Snap-On in the 1st quarter valued at approximately $34,000. 84.88% of the stock is currently owned by hedge funds and other institutional investors.

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.