Snap-on (NYSE:SNA) Given “Buy” Rating at Barrington Research

Snap-on (NYSE:SNA)‘s stock had its “buy” rating restated by investment analysts at Barrington Research in a research report issued on Friday, AnalystRatings.com reports. They currently have a $175.00 target price on the stock. Barrington Research’s price target suggests a potential upside of 19.97% from the stock’s previous close.

Several other equities analysts also recently commented on SNA. ValuEngine upgraded Snap-on from a “sell” rating to a “hold” rating in a report on Thursday, July 2nd. Tigress Financial reaffirmed a “buy” rating on shares of Snap-on in a research report on Thursday, May 7th. Finally, TheStreet raised Snap-on from a “c” rating to a “b-” rating in a research report on Monday, June 22nd. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $167.00.

NYSE:SNA opened at $145.87 on Friday. The stock’s 50 day moving average price is $136.82 and its 200 day moving average price is $136.37. Snap-on has a 52 week low of $90.72 and a 52 week high of $172.61. The company has a market capitalization of $7.93 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.61 and a beta of 1.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.68 and a current ratio of 2.50.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Friday, July 31st. The company reported $1.91 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.03). Snap-on had a net margin of 17.83% and a return on equity of 19.64%. The company had revenue of $724.30 million for the quarter, compared to analyst estimates of $704.97 million. During the same quarter last year, the business earned $3.22 EPS. The company’s revenue for the quarter was down 23.9% on a year-over-year basis. As a group, sell-side analysts forecast that Snap-on will post 9.13 earnings per share for the current fiscal year.

In other Snap-on news, CEO Nicholas T. Pinchuk sold 28,628 shares of the stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $135.05, for a total transaction of $3,866,211.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.20% of the stock is owned by company insiders.

A number of institutional investors have recently added to or reduced their stakes in SNA. Guggenheim Capital LLC raised its stake in Snap-on by 5.2% during the fourth quarter. Guggenheim Capital LLC now owns 81,970 shares of the company’s stock worth $13,885,000 after acquiring an additional 4,016 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Snap-on by 35.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,716 shares of the company’s stock valued at $376,000 after buying an additional 704 shares in the last quarter. Macquarie Group Ltd. increased its stake in shares of Snap-on by 17.7% in the fourth quarter. Macquarie Group Ltd. now owns 10,715 shares of the company’s stock valued at $1,814,000 after buying an additional 1,615 shares in the last quarter. Norges Bank acquired a new stake in shares of Snap-on in the fourth quarter valued at $104,320,000. Finally, State of Alaska Department of Revenue increased its stake in shares of Snap-on by 8.7% in the first quarter. State of Alaska Department of Revenue now owns 42,976 shares of the company’s stock valued at $4,675,000 after buying an additional 3,438 shares in the last quarter. Hedge funds and other institutional investors own 92.78% 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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

Featured Story: What is an Initial Coin Offering (ICO)?

Analyst Recommendations for Snap-on (NYSE:SNA)

Receive News & Ratings for Snap-on Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Snap-on and related companies with MarketBeat.com's FREE daily email newsletter.