Snap-on (NYSE:SNA) Now Covered by UBS Group

UBS Group started coverage on shares of Snap-on (NYSE:SNA) in a research report sent to investors on Tuesday, Benzinga reports. The firm issued a sell rating and a $143.00 price objective on the stock.

SNA has been the topic of several other reports. Oppenheimer increased their price target on shares of Snap-on from $150.00 to $165.00 in a report on Tuesday, September 8th. TheStreet raised shares of Snap-on from a c rating to a b- rating in a report on Monday, June 22nd. ValuEngine cut shares of Snap-on from a hold rating to a sell rating in a report on Monday, August 3rd. Barrington Research reaffirmed a buy rating and set a $175.00 target price on shares of Snap-on in a report on Friday, July 31st. Finally, Jefferies Financial Group reaffirmed a hold rating on shares of Snap-on in a report on Tuesday, August 11th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of $160.50.

NYSE:SNA traded down $5.95 during mid-day trading on Tuesday, hitting $147.01. The stock had a trading volume of 6,230 shares, compared to its average volume of 547,835. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.60 and a beta of 1.37. The company has a debt-to-equity ratio of 0.41, a quick ratio of 2.40 and a current ratio of 3.34. Snap-on has a twelve month low of $90.72 and a twelve month high of $172.61. The company’s 50 day simple moving average is $149.17 and its 200 day simple moving average is $133.48.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Friday, July 31st. The company reported $1.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.94 by ($0.03). The company had revenue of $724.30 million during the quarter, compared to the consensus estimate of $704.97 million. Snap-on had a net margin of 16.71% and a return on equity of 17.12%. The firm’s revenue was down 23.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.22 earnings per share. As a group, equities analysts forecast that Snap-on will post 9.29 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 10th. Stockholders of record on Thursday, August 20th were issued a dividend of $1.08 per share. The ex-dividend date was Wednesday, August 19th. This represents a $4.32 annualized dividend and a dividend yield of 2.94%. Snap-on’s dividend payout ratio is presently 35.24%.

In related news, CEO Nicholas T. Pinchuk sold 27,566 shares of Snap-on stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $150.25, for a total value of $4,141,791.50. Also, CEO Nicholas T. Pinchuk sold 28,628 shares of Snap-on stock in a transaction that occurred on Thursday, June 18th. The shares were sold at an average price of $135.05, for a total transaction of $3,866,211.40. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the stock. IFP Advisors Inc increased its stake in Snap-on by 85.6% in the second quarter. IFP Advisors Inc now owns 232 shares of the company’s stock valued at $31,000 after acquiring an additional 107 shares during the last quarter. Creative Financial Designs Inc. ADV bought a new position in Snap-on in the second quarter valued at approximately $47,000. Bartlett & Co. LLC acquired a new stake in Snap-on in the first quarter valued at approximately $44,000. Ellevest Inc. boosted its position in Snap-on by 47.3% in the second quarter. Ellevest Inc. now owns 439 shares of the company’s stock valued at $61,000 after buying an additional 141 shares in the last quarter. Finally, CSat Investment Advisory L.P. boosted its position in Snap-on by 67.3% in the second quarter. CSat Investment Advisory L.P. now owns 532 shares of the company’s stock valued at $74,000 after buying an additional 214 shares in the last quarter. 94.85% of the stock is currently owned by institutional investors and hedge funds.

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 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.

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Analyst Recommendations for Snap-on (NYSE:SNA)

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