Snap-on (NYSE:SNA) Upgraded to “Buy” at StockNews.com

StockNews.com upgraded shares of Snap-on (NYSE:SNA) from a hold rating to a buy rating in a research report released on Friday.

Several other analysts have also commented on the stock. Robert W. Baird lowered their price target on shares of Snap-on from $349.00 to $320.00 and set a “neutral” rating on the stock in a research report on Monday, April 21st. Barrington Research reaffirmed an “outperform” rating and issued a $350.00 target price on shares of Snap-on in a research note on Thursday, April 17th. Tigress Financial increased 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. Finally, Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price target for the company in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Snap-on currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.83.

Snap-on Stock Up 1.2%

SNA opened at $331.78 on Friday. Snap-on has a one year low of $252.98 and a one year high of $373.90. The company has a market cap of $17.35 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 2.21 and a beta of 0.78. The business’s fifty day moving average is $322.45 and its two-hundred day moving average is $338.73. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.17 and a current ratio of 4.15.

Snap-on (NYSE:SNA) last released its quarterly earnings data 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 19.20% and a net margin of 21.71%. The business had revenue of $1.14 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the firm earned $4.91 earnings per share. Analysts anticipate that Snap-on will post 19.79 EPS for the current fiscal year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 10th. Shareholders of record on Tuesday, May 20th will be paid a $2.14 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $8.56 annualized dividend and a yield of 2.58%. Snap-on’s payout ratio is currently 44.82%.

Insider Buying and Selling at Snap-on

In other news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at $36,310,898.80. The trade was a 6.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the company’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now owns 793,932 shares of the company’s stock, valued at $266,221,278.24. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 35,113 shares of company stock worth $11,752,590. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Alpine Bank Wealth Management acquired a new position in Snap-on during the first quarter worth approximately $25,000. UMB Bank n.a. grew its stake in shares of Snap-on by 70.5% during the 4th quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of Snap-on during the 4th quarter worth $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of Snap-on in the 4th quarter worth $28,000. Finally, Golden State Wealth Management LLC raised its position in shares of Snap-on by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company’s stock worth $33,000 after buying an additional 80 shares during the period. 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.