Snap-On (NYSE:SNA) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Snap-On (NYSE:SNA - Get Free Report) had its target price lifted by research analysts at Robert W. Baird from $329.00 to $347.00 in a report issued on Friday, Marketbeat reports. The brokerage presently has a "neutral" rating on the stock. Robert W. Baird's target price indicates a potential upside of 3.11% from the stock's current price.

Several other equities research analysts have also commented on SNA. Bank of America upped their price objective on Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a research report on Friday. Barrington Research restated an "outperform" rating and issued a $350.00 price objective on shares of Snap-On in a research report on Tuesday, July 15th. Wall Street Zen upgraded Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Finally, Longbow Research upgraded Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective on the stock in a research report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $356.17.

Snap-On Price Performance

Shares of Snap-On stock traded down $1.25 on Friday, hitting $336.55. 619,623 shares of the company traded hands, compared to its average volume of 369,908. The stock has a market capitalization of $17.60 billion, a P/E ratio of 17.95, a price-to-earnings-growth ratio of 2.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.18 and a current ratio of 4.48. Snap-On has a 52 week low of $266.56 and a 52 week high of $373.90. The business has a 50-day simple moving average of $318.89 and a 200 day simple moving average of $327.74.

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

Insider Transactions at Snap-On

In related news, CFO Aldo John Pagliari sold 5,553 shares of Snap-On stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $326.84, for a total transaction of $1,814,942.52. Following the completion of the sale, the chief financial officer owned 109,560 shares of the company's stock, valued at approximately $35,808,590.40. This trade represents a 4.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of Snap-On stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $315.85, for a total value of $7,318,876.20. Following the sale, the chief executive officer directly owned 804,510 shares of the company's stock, valued at approximately $254,104,483.50. The trade was a 2.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,815 shares of company stock valued at $9,482,532 over the last quarter. Company insiders own 3.90% of the company's stock.

Hedge Funds Weigh In On Snap-On

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Forvis Mazars Wealth Advisors LLC boosted its holdings in shares of Snap-On by 0.7% in the 1st quarter. Forvis Mazars Wealth Advisors LLC now owns 4,607 shares of the company's stock worth $1,553,000 after acquiring an additional 32 shares in the last quarter. Horizon Investments LLC lifted its stake in shares of Snap-On by 4.3% in the 1st quarter. Horizon Investments LLC now owns 775 shares of the company's stock valued at $261,000 after purchasing an additional 32 shares during the period. TrinityPoint Wealth LLC lifted its stake in shares of Snap-On by 0.8% in the 4th quarter. TrinityPoint Wealth LLC now owns 4,164 shares of the company's stock valued at $1,414,000 after purchasing an additional 33 shares during the period. Cary Street Partners Investment Advisory LLC lifted its stake in shares of Snap-On by 5.2% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 694 shares of the company's stock valued at $234,000 after purchasing an additional 34 shares during the period. Finally, Richwood Investment Advisors LLC lifted its stake in shares of Snap-On by 1.2% in the 4th quarter. Richwood Investment Advisors LLC now owns 3,053 shares of the company's stock valued at $1,036,000 after purchasing an additional 35 shares during the period. 84.88% of the stock is currently owned by institutional investors.

About Snap-On

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.