Snap-on (NYSE:SNA) Stock Rating Reaffirmed by 888

Snap-on (NYSE:SNA – Get Rating)‘s stock had its “reiterates” rating reiterated by stock analysts at 888 in a research report issued to clients and investors on Wednesday, Benzinga reports.

Several other equities research analysts have also commented on the stock. StockNews.com assumed coverage on shares of Snap-on in a report on Thursday, May 18th. They issued a “buy” rating for the company. Longbow Research upgraded shares of Snap-on from an “underperform” rating to a “neutral” rating in a report on Friday, April 21st. Roth Capital upgraded shares of Snap-on from a “neutral” rating to a “buy” rating in a report on Thursday, May 18th. 92 Resources reissued a “reiterates” rating on shares of Snap-on in a research report on Wednesday. Finally, MKM Partners upped their target price on Snap-on from $238.00 to $259.00 in a research report on Friday, February 3rd. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $260.57.

Snap-on Stock Performance

Snap-on stock traded up $1.59 during mid-day trading on Wednesday, reaching $257.35. 191,777 shares of the stock traded hands, compared to its average volume of 306,285. The business’s 50-day moving average is $248.45 and its 200-day moving average is $243.23. Snap-on has a 12-month low of $190.08 and a 12-month high of $265.02. The stock has a market capitalization of $13.62 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 2.07 and a beta of 1.09. The company has a debt-to-equity ratio of 0.26, a current ratio of 3.48 and a quick ratio of 2.43.

Snap-on (NYSE:SNA – Get Rating) last announced its quarterly earnings data on Thursday, April 20th. The company reported $4.60 EPS for the quarter, beating the consensus estimate of $4.14 by $0.46. Snap-on had a return on equity of 21.17% and a net margin of 20.60%. The company had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.13 billion. During the same quarter in the prior year, the company posted $4.00 EPS. Snap-on’s quarterly revenue was up 7.8% on a year-over-year basis. As a group, sell-side analysts predict that Snap-on will post 17.74 EPS for the current fiscal year.

Insider Transactions at Snap-on

In other news, SVP Anup R. Banerjee sold 29,750 shares of Snap-on stock in a transaction that occurred on Monday, April 24th. The shares were sold at an average price of $259.55, for a total transaction of $7,721,612.50. Following the completion of the transaction, the senior vice president now directly owns 5,994 shares of the company’s stock, valued at approximately $1,555,742.70. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Snap-on news, CEO Nicholas T. Pinchuk sold 22,800 shares of the stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $236.05, for a total transaction of $5,381,940.00. Following the completion of the transaction, the chief executive officer now owns 676,929 shares of the company’s stock, valued at $159,789,090.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Anup R. Banerjee sold 29,750 shares of the business’s stock in a transaction that occurred on Monday, April 24th. The stock was sold at an average price of $259.55, for a total value of $7,721,612.50. Following the sale, the senior vice president now owns 5,994 shares of the company’s stock, valued at $1,555,742.70. The disclosure for this sale can be found here. Insiders have sold 56,884 shares of company stock worth $14,194,715 over the last 90 days. 4.20% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Snap-on

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Copeland Capital Management LLC boosted its position in Snap-on by 653.3% during the fourth quarter. Copeland Capital Management LLC now owns 113 shares of the company’s stock worth $25,000 after acquiring an additional 98 shares during the last quarter. Clear Street Markets LLC grew its position in shares of Snap-on by 96.3% in the first quarter. Clear Street Markets LLC now owns 106 shares of the company’s stock valued at $26,000 after purchasing an additional 52 shares in the last quarter. Parkside Financial Bank & Trust grew its holdings in Snap-on by 57.3% in the 1st quarter. Parkside Financial Bank & Trust now owns 129 shares of the company’s stock valued at $27,000 after buying an additional 47 shares in the last quarter. Ridgewood Investments LLC purchased a new position in shares of Snap-on during the 1st quarter worth $29,000. Finally, Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. acquired a new position in shares of Snap-on during the 4th quarter valued at about $32,000. Institutional investors and hedge funds own 85.19% of the company’s stock.

Snap-on Company Profile

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Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation, and technical education.