Snap-on (NYSE:SNA) Price Target Increased to $347.00 by Analysts at Robert W. Baird

Snap-on (NYSE:SNA) had its target price lifted by Robert W. Baird from $290.00 to $347.00 in a report issued on Friday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other equities research analysts also recently weighed in on the company. Bank of America upped their target price on Snap-on from $255.00 to $280.00 and gave the stock an “underperform” rating in a research report on Friday. Barrington Research lifted their price objective on shares of Snap-on from $325.00 to $350.00 and gave the company an “outperform” rating in a research note on Thursday. Tigress Financial restated a “buy” rating and issued a $336.00 target price on shares of Snap-on in a research note on Thursday, July 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $327.40.

Snap-on Stock Down 0.5 %

Shares of NYSE SNA opened at $326.09 on Friday. The stock has a market capitalization of $17.18 billion, a PE ratio of 16.95, a P/E/G ratio of 2.06 and a beta of 0.98. 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 firm has a fifty day moving average of $284.18 and a 200-day moving average of $276.78. Snap-on has a 52-week low of $249.84 and a 52-week high of $330.51.

Snap-on (NYSE:SNA) last issued its earnings results on Thursday, July 18th. The company reported $5.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the previous year, the business earned $4.89 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, analysts anticipate that Snap-on will post 18.95 EPS for the current year.

Snap-on announced that its board has initiated a stock repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Snap-on Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Monday, August 19th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date was Monday, August 19th. Snap-on’s payout ratio is currently 38.67%.

Insider Buying and Selling at Snap-on

In other news, VP June C. Lemerand sold 1,186 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the sale, the vice president now owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP June C. Lemerand sold 1,186 shares of Snap-on stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the transaction, the vice president now owns 2,283 shares in the company, valued at approximately $648,303.51. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Iain Boyd sold 6,044 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the sale, the vice president now directly owns 10,493 shares in the company, valued at approximately $3,137,302.07. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,848 shares of company stock worth $9,884,486 in the last ninety days. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Opal Wealth Advisors LLC bought a new position in Snap-on in the second quarter worth about $30,000. Innealta Capital LLC bought a new stake in shares of Snap-on in the 2nd quarter worth approximately $32,000. Massmutual Trust Co. FSB ADV boosted its position in Snap-on by 53.0% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the period. Quarry LP grew its stake in Snap-on by 244.7% during the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock worth $42,000 after buying an additional 115 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in Snap-on by 529.0% in the second quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock worth $51,000 after buying an additional 164 shares during the period. 84.88% of the stock is owned by institutional investors and hedge funds.

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.