Barrington Research Reaffirms "Outperform" Rating for Snap-On (NYSE:SNA)

Key Points

• Barrington Research has reaffirmed its "outperform" rating for Snap-On (NYSE:SNA) with a target price of $350.00, indicating a potential upside of 3.86% from its current stock price.
• Additionally, analysts from Robert W. Baird and Tigress Financial have adjusted their target prices for Snap-On, reflecting a range of $329.00 to $395.00, with the stock receiving multiple "buy" ratings and a consensus rating of "Moderate Buy."
• Snap-On recently reported quarterly earnings of $4.72 per share, exceeding expectations, and has a market capitalization of $17.58 billion with strong margins and a substantial ability to generate revenue.

Snap-On (NYSE:SNA - Get Free Report)'s stock had its "outperform" rating reiterated by research analysts at Barrington Research in a research note issued on Wednesday,Benzinga reports. They presently have a $350.00 target price on the stock. Barrington Research's target price would suggest a potential upside of 3.86% from the stock's current price.

Other research analysts have also recently issued research reports about the company. Robert W. Baird increased their target price on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Weiss Ratings reiterated a "buy (b)" rating on shares of Snap-On in a research report on Wednesday, October 8th. Tigress Financial increased their target price on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Finally, Bank of America increased their target price on shares of Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $357.00.

Snap-On Price Performance

Shares of NYSE SNA opened at $337.00 on Wednesday. The firm has a market capitalization of $17.58 billion, a P/E ratio of 17.97, a P/E/G ratio of 2.31 and a beta of 0.78. The company has a quick ratio of 3.42, a current ratio of 4.48 and a debt-to-equity ratio of 0.21. The stock's 50-day simple moving average is $331.78 and its two-hundred day simple moving average is $323.73. Snap-On has a twelve month low of $289.81 and a twelve month high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, topping the consensus estimate of $4.61 by $0.11. The company had revenue of $1.18 billion for the quarter, compared to analysts' expectations of $1.16 billion. Snap-On had a net margin of 20.98% and a return on equity of 18.02%. Snap-On's revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $5.07 earnings per share. As a group, equities analysts anticipate that Snap-On will post 19.79 EPS for the current fiscal year.

Insider Transactions at Snap-On

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the sale, the chief executive officer directly owned 815,219 shares in the company, valued at $261,587,472.72. The trade was a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Aldo John Pagliari sold 125 shares of the business's stock in a transaction on Friday, August 15th. The shares were sold at an average price of $325.21, for a total transaction of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. This trade represents a 0.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock worth $8,983,203 in the last ninety days. Insiders own 3.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNA. Alpine Bank Wealth Management bought a new position in Snap-On in the first quarter valued at about $25,000. Tobam bought a new position in Snap-On in the second quarter worth approximately $29,000. Ameritas Advisory Services LLC bought a new position in Snap-On in the second quarter worth approximately $30,000. Vermillion & White Wealth Management Group LLC raised its position in Snap-On by 97.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company's stock worth $30,000 after acquiring an additional 47 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings in Snap-On by 421.1% in the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock worth $33,000 after purchasing an additional 80 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.

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