Snap-on (NYSE:SNA) Rating Reiterated by Longbow Research

Snap-on (NYSE:SNA)‘s stock had its “hold” rating reiterated by equities researchers at Longbow Research in a research note issued on Wednesday, TipRanks reports.

A number of other analysts have also recently commented on the stock. Northcoast Research reaffirmed a “neutral” rating on shares of Snap-on in a report on Friday, February 7th. Robert W. Baird reduced their target price on shares of Snap-on from $169.00 to $159.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. ValuEngine raised shares of Snap-on from a “sell” rating to a “hold” rating in a report on Friday, March 13th. Finally, Barrington Research reaffirmed a “buy” rating and set a $185.00 target price on shares of Snap-on in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $171.60.

Shares of SNA stock opened at $113.54 on Wednesday. Snap-on has a 12 month low of $90.72 and a 12 month high of $174.00. The stock has a market cap of $5.83 billion, a P/E ratio of 9.14, a P/E/G ratio of 0.87 and a beta of 1.19. The company has a current ratio of 2.51, a quick ratio of 1.71 and a debt-to-equity ratio of 0.29. The company has a 50 day simple moving average of $140.24 and a two-hundred day simple moving average of $157.20.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, February 6th. The company reported $3.08 EPS for the quarter, meeting the Zacks’ consensus estimate of $3.08. Snap-on had a net margin of 18.59% and a return on equity of 20.62%. The business had revenue of $955.20 million during the quarter, compared to analysts’ expectations of $965.58 million. During the same period in the prior year, the company earned $3.03 earnings per share. The firm’s revenue was up .3% on a year-over-year basis. As a group, equities analysts forecast that Snap-on will post 12.37 earnings per share for the current year.

In other news, Director William Dudley Lehman sold 422 shares of the stock in a transaction on Friday, February 14th. The shares were sold at an average price of $155.20, for a total value of $65,494.40. Following the completion of the sale, the director now directly owns 10,429 shares of the company’s stock, valued at $1,618,580.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Timothy L. Chambers sold 4,320 shares of the stock in a transaction on Friday, February 7th. The stock was sold at an average price of $156.54, for a total transaction of $676,252.80. Following the completion of the sale, the senior vice president now directly owns 14,056 shares of the company’s stock, valued at $2,200,326.24. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Sheaff Brock Investment Advisors LLC lifted its position in Snap-on by 1.4% during the fourth quarter. Sheaff Brock Investment Advisors LLC now owns 5,408 shares of the company’s stock valued at $916,000 after purchasing an additional 75 shares during the last quarter. RB Capital Management LLC lifted its position in Snap-on by 1.3% during the fourth quarter. RB Capital Management LLC now owns 5,942 shares of the company’s stock valued at $993,000 after purchasing an additional 77 shares during the last quarter. Legacy Financial Advisors Inc. lifted its position in Snap-on by 2.2% during the fourth quarter. Legacy Financial Advisors Inc. now owns 4,096 shares of the company’s stock valued at $694,000 after purchasing an additional 87 shares during the last quarter. D.B. Root & Company LLC lifted its position in Snap-on by 2.5% during the fourth quarter. D.B. Root & Company LLC now owns 4,125 shares of the company’s stock valued at $698,000 after purchasing an additional 100 shares during the last quarter. Finally, CX Institutional lifted its position in Snap-on by 2.7% during the fourth quarter. CX Institutional now owns 4,968 shares of the company’s stock valued at $842,000 after purchasing an additional 129 shares during the last quarter. 95.70% of the stock is owned by hedge funds and other institutional investors.

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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Analyst Recommendations for Snap-on (NYSE:SNA)

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