Snap-On Incorporated (NYSE:SNA) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Snap-On Incorporated (NYSE:SNA) has received an average rating of "Moderate Buy" from analysts, with five buy recommendations, one hold, and one sell.
• The company's stock has a 12-month target price average of $357.00 among brokerages, reflecting positive outlook from multiple research updates.
• Insiders sold a total of 27,898 shares worth approximately $8.98 million in the past 90 days, indicating a decrease in ownership among executives.

Snap-On Incorporated (NYSE:SNA - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven analysts that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $357.00.

SNA has been the topic of a number of research reports. Robert W. Baird upped their target price on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Barrington Research reiterated an "outperform" rating and issued a $350.00 target price on shares of Snap-On in a report on Wednesday. Bank of America upped their target price on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Weiss Ratings restated a "buy (b)" rating on shares of Snap-On in a report on Wednesday, October 8th. Finally, Tigress Financial increased their price objective on Snap-On from $390.00 to $395.00 and gave the stock a "buy" rating in a report on Friday, August 29th.

Insider Buying and Selling

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. This represents a 2.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Aldo John Pagliari sold 4,731 shares of the stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total value of $1,548,834.78. Following the completion of the transaction, the chief financial officer owned 111,667 shares in the company, valued at $36,557,542.46. This represents a 4.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 27,898 shares of company stock worth $8,983,203 in the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snap-On

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Alpine Bank Wealth Management acquired a new position in Snap-On during the first quarter valued at approximately $25,000. Tobam acquired a new position in Snap-On during the second quarter valued at approximately $29,000. Ameritas Advisory Services LLC acquired a new position in Snap-On during the second quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC grew its holdings in Snap-On by 97.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company's stock valued at $30,000 after purchasing an additional 47 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its holdings in Snap-On by 421.1% during the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after purchasing an additional 80 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company's stock.

Snap-On Price Performance

Shares of SNA opened at $343.12 on Friday. The company has a market capitalization of $17.90 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 2.31 and a beta of 0.78. Snap-On has a fifty-two week low of $289.81 and a fifty-two week high of $373.89. The company has a debt-to-equity ratio of 0.21, a current ratio of 4.48 and a quick ratio of 3.42. The business's 50-day moving average is $332.41 and its 200-day moving average is $323.83.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, October 16th. The company reported $5.02 earnings per share for the quarter, beating analysts' consensus estimates of $4.59 by $0.43. The company had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The firm's quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.70 EPS. Equities research analysts expect that Snap-On will post 19.79 EPS for the current fiscal year.

Snap-On Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 19th were issued a $2.14 dividend. The ex-dividend date was Tuesday, August 19th. This represents a $8.56 dividend on an annualized basis and a yield of 2.5%. Snap-On's dividend payout ratio is currently 45.65%.

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.

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