Snap-on’s (SNA) Buy Rating Reaffirmed at Tigress Financial

Snap-on (NYSE:SNA)‘s stock had its “buy” rating reiterated by stock analysts at Tigress Financial in a note issued to investors on Thursday, Benzinga reports. They presently have a $336.00 price target on the stock. Tigress Financial’s price target suggests a potential upside of 22.87% from the company’s previous close.

A number of other equities analysts have also issued reports on SNA. Barrington Research reiterated an “outperform” rating and set a $325.00 price objective on shares of Snap-on in a research note on Tuesday, July 16th. Robert W. Baird cut their price target on Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. Finally, Roth Mkm restated a “buy” rating and issued a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Snap-on presently has a consensus rating of “Moderate Buy” and a consensus price target of $315.00.

Snap-on Stock Up 1.3 %

NYSE SNA traded up $3.40 during midday trading on Thursday, hitting $273.47. 296,410 shares of the company traded hands, compared to its average volume of 304,063. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. The company has a market cap of $14.41 billion, a PE ratio of 14.35, a price-to-earnings-growth ratio of 1.90 and a beta of 0.98. Snap-on has a 52 week low of $249.84 and a 52 week high of $298.49. The company’s 50-day simple moving average is $267.69 and its 200-day simple moving average is $277.26.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $4.89 EPS. As a group, equities research analysts forecast that Snap-on will post 18.97 earnings per share for the current year.

Insider Transactions at Snap-on

In other news, SVP Jesus Arregui sold 8,434 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the transaction, the senior vice president now directly owns 252 shares in the company, valued at approximately $66,822.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Jesus Arregui sold 8,434 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $265.17, for a total transaction of $2,236,443.78. Following the transaction, the senior vice president now directly owns 252 shares in the company, valued at approximately $66,822.84. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Aldo John Pagliari sold 5,978 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total value of $1,655,069.08. Following the transaction, the chief financial officer now owns 97,699 shares in the company, valued at $27,048,945.14. The disclosure for this sale can be found here. Insiders have sold a total of 38,632 shares of company stock worth $10,353,409 in the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SNA. Bridgefront Capital LLC purchased a new stake in Snap-on in the fourth quarter valued at approximately $1,119,000. Rockland Trust Co. purchased a new stake in Snap-on in the first quarter valued at approximately $889,000. Goldman Sachs Group Inc. raised its position in Snap-on by 11.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock valued at $78,401,000 after purchasing an additional 28,566 shares during the period. Caprock Group LLC purchased a new stake in Snap-on in the fourth quarter valued at approximately $1,203,000. Finally, Kingsview Wealth Management LLC increased its position in shares of Snap-on by 42.0% during the fourth quarter. Kingsview Wealth Management LLC now owns 26,456 shares of the company’s stock worth $7,641,000 after acquiring an additional 7,830 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.