Snap-on (SNA) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Snap-on (NYSE:SNA) from a hold rating to a buy rating in a research report report published on Wednesday. The brokerage currently has $206.00 price objective on the stock.

According to Zacks, “Snap-On has registered an excellent earnings surprise history over the trailing four quarters, beating estimates all through. The company is committed to its RCI program, which has been instrumental in fuelling sales, margins and savings in the recent quarters. Going forward, the company plans to boost growth by focusing on franchise network, expanding footprint in vehicle repair garage & vital industries, and penetrating emerging markets. Diversified portfolio and impressive traction of new products add to its strength. Also, the company has been witnessing encouraging prospects in most of its business lines that will likely unlock new growth avenues going forward. Despite these positives, over the past year, Snap-on’s shares have underperformed the industry average. Sluggish oil market activities, volatility in the prices and high currency fluctuation risks pose as major concerns.”

A number of other research analysts have also weighed in on SNA. FBR & Co reaffirmed a buy rating and issued a $205.00 price objective on shares of Snap-on in a research note on Thursday, October 19th. Oppenheimer reaffirmed a buy rating and issued a $177.00 price objective on shares of Snap-on in a research note on Thursday, October 19th. Barrington Research raised shares of Snap-on from a market perform rating to an outperform rating and set a $185.00 price objective on the stock in a research note on Monday, October 23rd. Jefferies Group reaffirmed a hold rating and issued a $175.00 price objective on shares of Snap-on in a research note on Friday, November 3rd. Finally, B. Riley reaffirmed a buy rating on shares of Snap-on in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Buy and an average price target of $195.00.

Shares of Snap-on (NYSE SNA) traded down $1.41 during midday trading on Wednesday, reaching $179.76. 592,161 shares of the company traded hands, compared to its average volume of 531,485. The company has a market capitalization of $10,250.00, a price-to-earnings ratio of 18.47, a PEG ratio of 1.38 and a beta of 1.14. Snap-on has a fifty-two week low of $140.83 and a fifty-two week high of $185.47. 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 (NYSE:SNA) last released its quarterly earnings data on Thursday, October 19th. The company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.43 by $0.02. Snap-on had a net margin of 15.95% and a return on equity of 20.82%. The firm had revenue of $903.80 million for the quarter, compared to analyst estimates of $889.22 million. During the same period last year, the firm earned $2.22 earnings per share. The business’s quarterly revenue was up 8.4% compared to the same quarter last year. equities analysts anticipate that Snap-on will post 10.09 EPS for the current year.

In other news, Chairman Nicholas T. Pinchuk sold 20,680 shares of the stock in a transaction dated Thursday, December 28th. The shares were sold at an average price of $174.55, for a total value of $3,609,694.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.70% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Strs Ohio raised its holdings in shares of Snap-on by 5.4% in the third quarter. Strs Ohio now owns 441,422 shares of the company’s stock valued at $65,776,000 after purchasing an additional 22,690 shares during the last quarter. Reinhart Partners Inc. purchased a new stake in shares of Snap-on in the third quarter valued at about $18,143,000. Cohen & Steers Inc. purchased a new stake in shares of Snap-on in the third quarter valued at about $9,707,000. MML Investors Services LLC raised its holdings in shares of Snap-on by 26.0% in the second quarter. MML Investors Services LLC now owns 5,313 shares of the company’s stock valued at $839,000 after purchasing an additional 1,096 shares during the last quarter. Finally, Toronto Dominion Bank raised its holdings in shares of Snap-on by 11.3% in the third quarter. Toronto Dominion Bank now owns 21,858 shares of the company’s stock valued at $3,257,000 after purchasing an additional 2,227 shares during the last quarter. Institutional investors own 99.40% of the company’s stock.

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About Snap-on

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.

Analyst Recommendations for Snap-on (NYSE:SNA)

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