Snap-On Target of Unusually High Options Trading (NYSE:SNA)

Snap-On Incorporated (NYSE:SNA) was the recipient of some unusual options trading on Tuesday. Traders acquired 1,360 put options on the company. This represents an increase of 878% compared to the average daily volume of 139 put options.

In other Snap-On news, CEO Nicholas T. Pinchuk sold 20,680 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $174.55, for a total value of $3,609,694.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.70% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. lifted its holdings in Snap-On by 125.9% during the 4th quarter. Sit Investment Associates Inc. now owns 61,050 shares of the company’s stock worth $10,641,000 after purchasing an additional 34,020 shares during the last quarter. Parametric Portfolio Associates LLC raised its holdings in Snap-On by 14.9% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 97,391 shares of the company’s stock valued at $14,512,000 after acquiring an additional 12,595 shares in the last quarter. Visionary Asset Management Inc. acquired a new position in Snap-On in the 3rd quarter valued at $215,000. Delphi Management Inc. MA acquired a new position in Snap-On in the 3rd quarter valued at $2,428,000. Finally, Hahn Capital Management LLC raised its holdings in Snap-On by 1.0% in the 3rd quarter. Hahn Capital Management LLC now owns 193,630 shares of the company’s stock valued at $28,853,000 after acquiring an additional 1,837 shares in the last quarter. 99.40% of the stock is owned by institutional investors and hedge funds.

Snap-On (SNA) traded down $0.17 on Friday, hitting $183.59. The stock had a trading volume of 584,714 shares, compared to its average volume of 544,095. The firm has a market capitalization of $10,470.00, a PE ratio of 18.87, a price-to-earnings-growth ratio of 1.40 and a beta of 1.14. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.22 and a current ratio of 1.75. Snap-On has a 52 week low of $140.83 and a 52 week high of $185.47.

Snap-On (NYSE:SNA) last released its quarterly earnings results on Thursday, October 19th. The company reported $2.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.43 by $0.02. The business had revenue of $903.80 million during the quarter, compared to analysts’ expectations of $889.22 million. Snap-On had a return on equity of 20.82% and a net margin of 15.95%. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. During the same period last year, the firm posted $2.22 EPS. analysts forecast that Snap-On will post 10.09 earnings per share for the current year.

SNA has been the subject of a number of analyst reports. Zacks Investment Research downgraded Snap-On from a “buy” rating to a “hold” rating in a research note on Friday. FBR & Co restated a “buy” rating and issued a $205.00 price target on shares of Snap-On in a research note on Thursday, October 19th. B. Riley restated a “buy” rating and issued a $205.00 price target on shares of Snap-On in a research note on Thursday, January 4th. Jefferies Group restated a “hold” rating and issued a $175.00 price target on shares of Snap-On in a research note on Friday, November 3rd. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $177.00 price objective on shares of Snap-On in a research report on Thursday, October 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company. Snap-On presently has an average rating of “Buy” and an average price target of $193.56.

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Snap-On Company Profile

Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.

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