Snap-on (NYSE:SNA) Price Target Cut to $275.00

Snap-on (NYSE:SNA) had its price target reduced by Robert W. Baird from $282.00 to $275.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 1.53% from the company’s previous close.

A number of other research analysts also recently issued reports on SNA. Roth Mkm restated a “buy” rating and set a $324.00 target price on shares of Snap-on in a research report on Thursday, April 18th. Barrington Research reaffirmed an “outperform” rating and set a $325.00 target price on shares of Snap-on in a report on Wednesday, May 22nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $315.00.

Snap-on Price Performance

Snap-on stock traded up $2.95 on Friday, reaching $270.85. The company’s stock had a trading volume of 89,159 shares, compared to its average volume of 297,055. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. The company has a market cap of $14.28 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.81 and a beta of 0.98. The business’s fifty day moving average price is $268.55 and its 200 day moving average price is $278.22. Snap-on has a twelve month low of $249.84 and a twelve month high of $298.49.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. The company had revenue of $1.18 billion for the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a return on equity of 20.46% and a net margin of 21.69%. The business’s revenue was down .1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.60 earnings per share. Equities analysts expect that Snap-on will post 19.01 earnings per share for the current fiscal year.

Insider Activity at Snap-on

In related news, CEO Nicholas T. Pinchuk sold 24,220 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the sale, the chief executive officer now owns 750,663 shares in the company, valued at $200,276,888.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,220 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $266.80, for a total value of $6,461,896.00. Following the completion of the transaction, the chief executive officer now directly owns 750,663 shares of the company’s stock, valued at $200,276,888.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 5,978 shares of the business’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total value of $1,655,069.08. Following the completion of the transaction, the chief financial officer now directly owns 97,699 shares of the company’s stock, valued at $27,048,945.14. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,632 shares of company stock worth $10,353,409. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bridgefront Capital LLC acquired a new position in Snap-on in the fourth quarter valued at about $1,119,000. Rockland Trust Co. acquired a new position in shares of Snap-on during the first quarter worth about $889,000. Goldman Sachs Group Inc. boosted its position in shares of Snap-on by 11.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 271,436 shares of the company’s stock worth $78,401,000 after buying an additional 28,566 shares during the period. Caprock Group LLC acquired a new position in shares of Snap-on during the fourth quarter worth about $1,203,000. Finally, Kingsview Wealth Management LLC boosted 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 buying an additional 7,830 shares during the period. 84.88% of the stock is 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.