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

Barrington Research reiterated their outperform rating on shares of Snap-on (NYSE:SNA - Free Report) in a report issued on Wednesday, Benzinga reports. They currently have a $325.00 price target on the stock.

Other research analysts have also recently issued reports about the stock. Tigress Financial reissued a buy rating and issued a $336.00 price objective on shares of Snap-on in a research note on Friday, February 16th. Roth Mkm reissued a buy rating and issued a $324.00 price objective on shares of Snap-on in a research note on Thursday, April 18th. Finally, Robert W. Baird decreased their price objective on shares of Snap-on from $295.00 to $282.00 and set a neutral rating on the stock in a research note on Friday, April 19th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $316.75.

Snap-on Price Performance

Shares of NYSE SNA traded up $0.07 during midday trading on Wednesday, reaching $276.17. The company's stock had a trading volume of 167,253 shares, compared to its average volume of 300,120. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. Snap-on has a fifty-two week low of $247.68 and a fifty-two week high of $298.49. The business's 50 day moving average price is $282.95 and its two-hundred day moving average price is $281.36. The company has a market cap of $14.56 billion, a P/E ratio of 14.47, a P/E/G ratio of 1.93 and a beta of 1.00.

Snap-on (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, April 18th. The company reported $4.75 earnings per share for the quarter, beating analysts' consensus estimates of $4.66 by $0.09. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned $4.60 earnings per share. The firm's quarterly revenue was down .1% on a year-over-year basis. On average, analysts forecast that Snap-on will post 19.01 EPS for the current fiscal year.

Snap-on Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 20th will be paid a dividend of $1.86 per share. The ex-dividend date is Friday, May 17th. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.69%. Snap-on's payout ratio is presently 39.03%.

Insiders Place Their Bets

In other Snap-on news, CFO Aldo John Pagliari sold 5,978 shares of the business's stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the sale, the chief financial officer now owns 97,699 shares of the company's stock, valued at $27,048,945.14. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Nicholas T. Pinchuk sold 23,514 shares of the business's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $287.48, for a total value of $6,759,804.72. Following the sale, the chief executive officer now owns 742,383 shares of the company's stock, valued at $213,420,264.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Aldo John Pagliari sold 5,978 shares of the business's stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $276.86, for a total transaction of $1,655,069.08. Following the completion of the sale, the chief financial officer now directly owns 97,699 shares in the company, valued at approximately $27,048,945.14. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,908 shares of company stock valued at $15,744,592. 4.10% of the stock is currently owned by insiders.

Institutional Trading of Snap-on

Several institutional investors have recently modified their holdings of SNA. Confluence Investment Management LLC bought a new stake in shares of Snap-on in the first quarter worth $173,451,000. Norges Bank bought a new stake in shares of Snap-on in the fourth quarter worth $145,665,000. Nordea Investment Management AB grew its stake in shares of Snap-on by 52.8% in the fourth quarter. Nordea Investment Management AB now owns 864,565 shares of the company's stock worth $249,743,000 after purchasing an additional 298,727 shares during the last quarter. Mawer Investment Management Ltd. bought a new stake in shares of Snap-on in the first quarter worth $55,954,000. Finally, Envestnet Asset Management Inc. grew its stake in shares of Snap-on by 25.1% in the third quarter. Envestnet Asset Management Inc. now owns 738,473 shares of the company's stock worth $188,355,000 after purchasing an additional 147,997 shares during the last quarter. 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.