Shares of Snap-on Incorporated (NYSE:SNA) have been assigned a consensus recommendation of "Hold" from the seven research firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation, two have given a hold recommendation and two have given a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $209.17.
SNA has been the topic of a number of recent research reports. Robert W. Baird reaffirmed a "hold" rating and issued a $240.00 target price on shares of Snap-on in a research report on Thursday, July 29th. Zacks Investment Research cut shares of Snap-on from a "buy" rating to a "hold" rating and set a $226.00 target price on the stock. in a research note on Tuesday, October 5th. Finally, Bank of America downgraded shares of Snap-on from a "neutral" rating to an "underperform" rating and set a $240.00 target price on the stock. in a report on Friday, September 17th.
In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,492 shares of Snap-on stock in a transaction dated Wednesday, August 11th. The stock was sold at an average price of $227.29, for a total value of $5,566,786.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.20% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of SNA. Ironwood Wealth Management LLC. grew its holdings in Snap-on by 20.9% during the first quarter. Ironwood Wealth Management LLC. now owns 1,796 shares of the company's stock worth $414,000 after acquiring an additional 311 shares during the period. Acadian Asset Management LLC lifted its position in Snap-on by 64.9% during the first quarter. Acadian Asset Management LLC now owns 1,585 shares of the company's stock worth $365,000 after buying an additional 624 shares during the period. Sei Investments Co. increased its stake in Snap-on by 16.6% during the first quarter. Sei Investments Co. now owns 15,163 shares of the company's stock worth $3,082,000 after acquiring an additional 2,154 shares during the last quarter. Panagora Asset Management Inc. increased its stake in Snap-on by 42.2% during the first quarter. Panagora Asset Management Inc. now owns 7,935 shares of the company's stock worth $1,831,000 after acquiring an additional 2,356 shares during the last quarter. Finally, Prudential Financial Inc. increased its stake in Snap-on by 83.2% during the first quarter. Prudential Financial Inc. now owns 88,262 shares of the company's stock worth $20,366,000 after acquiring an additional 40,094 shares during the last quarter. Institutional investors own 86.60% of the company's stock.
NYSE:SNA opened at $218.95 on Friday. Snap-on has a 12 month low of $153.27 and a 12 month high of $259.99. The stock has a market capitalization of $11.82 billion, a price-to-earnings ratio of 15.25, a PEG ratio of 1.61 and a beta of 1.28. The firm has a fifty day simple moving average of $219.97 and a two-hundred day simple moving average of $229.46. The company has a current ratio of 2.58, a quick ratio of 1.95 and a debt-to-equity ratio of 0.29.
Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, July 22nd. The company reported $3.76 EPS for the quarter, topping the consensus estimate of $3.18 by $0.58. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $976.23 million. Snap-on had a net margin of 19.15% and a return on equity of 20.51%. The company's revenue for the quarter was up 49.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.91 earnings per share. Equities analysts predict that Snap-on will post 14.25 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 10th. Stockholders of record on Friday, August 20th were issued a dividend of $1.23 per share. The ex-dividend date of this dividend was Thursday, August 19th. This represents a $4.92 annualized dividend and a dividend yield of 2.25%. Snap-on's dividend payout ratio is presently 42.30%.
Snap-On, Inc engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education.
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