Barrington Research Reiterates Outperform Rating for Snap-on (NYSE:SNA)

Snap-on (NYSE:SNA)‘s stock had its “outperform” rating reissued by equities research analysts at Barrington Research in a report issued on Friday, Benzinga reports. They currently have a $325.00 price objective on the stock. Barrington Research’s price objective points to a potential upside of 14.76% from the company’s previous close.

A number of other brokerages also recently weighed in on SNA. Roth Mkm reaffirmed a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. Tigress Financial reaffirmed a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Finally, Robert W. Baird dropped their target price on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating for the company in a research note on Friday, July 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $315.00.

Snap-on Price Performance

NYSE:SNA opened at $283.19 on Friday. The firm has a market cap of $14.93 billion, a PE ratio of 14.86, a price-to-earnings-growth ratio of 1.95 and a beta of 0.98. Snap-on has a 12 month low of $249.84 and a 12 month high of $298.49. The company has a quick ratio of 3.05, a current ratio of 4.06 and a debt-to-equity ratio of 0.22. The company’s 50-day moving average price is $277.23 and its two-hundred day moving average price is $276.64.

Snap-on (NYSE:SNA) last announced its earnings results 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. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm posted $4.89 earnings per share. The company’s revenue was down 1.0% on a year-over-year basis. On average, equities analysts anticipate that Snap-on will post 18.95 EPS for the current fiscal year.

Snap-on announced that its board has authorized a share buyback program on Thursday, August 8th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Aldo John Pagliari sold 4,473 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total transaction of $1,246,804.02. Following the completion of the sale, the chief financial officer now directly owns 99,244 shares of the company’s stock, valued at approximately $27,663,272.56. The disclosure for this sale can be found here. Insiders sold a total of 29,804 shares of company stock valued at $8,077,390 over the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Snap-on

Large investors have recently bought and sold shares of the company. Bridgefront Capital LLC acquired a new position in shares of Snap-on in the fourth quarter valued at approximately $1,119,000. Rockland Trust Co. acquired a new position in shares of Snap-on in the first quarter valued at approximately $889,000. Goldman Sachs Group Inc. boosted its holdings in shares of 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 buying an additional 28,566 shares during the period. Manning & Napier Advisors LLC acquired a new position in shares of Snap-on in the second quarter valued at approximately $4,571,000. Finally, SG Americas Securities LLC boosted its holdings in shares of Snap-on by 32.7% in the second quarter. SG Americas Securities LLC now owns 13,140 shares of the company’s stock valued at $3,435,000 after buying an additional 3,238 shares during the period. Institutional investors own 84.88% of the company’s stock.

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