Snap-on (NYSE:SNA) Receives "Buy" Rating from Roth Mkm

Roth Mkm reaffirmed their buy rating on shares of Snap-on (NYSE:SNA - Free Report) in a research report sent to investors on Thursday, Benzinga reports. They currently have a $324.00 target price on the stock.

A number of other analysts have also recently commented on the company. Tigress Financial reaffirmed a buy rating and set a $336.00 price target on shares of Snap-on in a research report on Friday, February 16th. Barrington Research reaffirmed an outperform rating and set a $325.00 price target on shares of Snap-on in a research report on Monday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Snap-on has an average rating of Hold and an average target price of $306.00.

Snap-on Stock Down 7.7 %

SNA stock traded down $21.74 on Thursday, hitting $261.76. 861,639 shares of the company's stock were exchanged, compared to its average volume of 312,439. Snap-on has a 12-month low of $239.08 and a 12-month high of $298.49. The firm has a 50 day moving average price of $283.65 and a two-hundred day moving average price of $278.16. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.88. The stock has a market cap of $13.83 billion, a P/E ratio of 13.96, a price-to-earnings-growth ratio of 2.02 and a beta of 0.99.

Snap-on (NYSE:SNA - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported $4.75 EPS for the quarter, topping analysts' consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The company had revenue of $1.20 billion during the quarter, compared to analysts' expectations of $1.20 billion. During the same quarter in the previous year, the firm posted $4.42 EPS. The firm's revenue was up 3.5% compared to the same quarter last year. As a group, equities research analysts expect that Snap-on will post 19.22 EPS for the current fiscal year.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 11th. Stockholders of record on Monday, February 26th were issued a $1.86 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 annualized dividend and a dividend yield of 2.84%. Snap-on's dividend payout ratio (DPR) is presently 39.68%.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the company's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares of the company's stock, valued at approximately $213,420,264.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the company's stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $287.48, for a total value of $6,759,804.72. Following the completion of the transaction, the chief executive officer now owns 742,383 shares of the company's stock, valued at approximately $213,420,264.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 7,522 shares of the company's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $271.94, for a total value of $2,045,532.68. Following the completion of the transaction, the chief financial officer now directly owns 95,661 shares of the company's stock, valued at approximately $26,014,052.34. The disclosure for this sale can be found here. Insiders sold a total of 47,368 shares of company stock valued at $13,399,449 in the last quarter. 4.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Snap-on

Large investors have recently bought and sold shares of the business. Confluence Investment Management LLC purchased a new stake in Snap-on during the 1st quarter worth approximately $173,451,000. Norges Bank purchased a new stake in Snap-on during the 4th quarter worth approximately $145,665,000. Nordea Investment Management AB increased its stake in Snap-on by 52.8% during the 4th quarter. Nordea Investment Management AB now owns 864,565 shares of the company's stock worth $249,743,000 after buying an additional 298,727 shares in the last quarter. Wellington Management Group LLP increased its stake in Snap-on by 7,194.3% during the 1st quarter. Wellington Management Group LLP now owns 241,149 shares of the company's stock worth $49,551,000 after buying an additional 237,843 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Snap-on by 25.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company's stock worth $188,355,000 after buying an additional 147,997 shares in the last quarter. Institutional investors and hedge funds 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.