Snap-On Incorporated (NYSE:SNA) Receives Consensus Rating of "Moderate Buy" from Brokerages

Key Points

• Snap-On Incorporated has received an average consensus rating of “Moderate Buy” from six brokerages, with a average price target of approximately $356.17.
• The company recently reported earnings of $4.72 per share, exceeding the consensus estimate, and had a quarterly revenue increase to $1.18 billion.
• Snap-On announced a quarterly dividend of $2.14 per share, which equates to an annualized dividend yield of 2.6%.

Snap-On Incorporated (NYSE:SNA - Get Free Report) has earned an average rating of "Moderate Buy" from the six ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $356.1667.

Several equities research analysts recently weighed in on SNA shares. Bank of America upped their price objective on shares of Snap-On from $265.00 to $285.00 and gave the stock an "underperform" rating in a report on Friday, July 18th. Wall Street Zen upgraded shares of Snap-On from a "hold" rating to a "buy" rating in a research report on Friday, May 16th. Robert W. Baird increased their price objective on shares of Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Finally, Barrington Research reiterated an "outperform" rating and set a $350.00 price objective on shares of Snap-On in a research note on Tuesday, July 15th.

Snap-On Stock Performance

Shares of NYSE SNA opened at $330.62 on Thursday. Snap-On has a 12-month low of $268.90 and a 12-month high of $373.89. The company has a market cap of $17.24 billion, a PE ratio of 17.63, a P/E/G ratio of 2.29 and a beta of 0.76. The stock has a 50 day simple moving average of $321.51 and a 200-day simple moving average of $323.97. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21.

Snap-On (NYSE:SNA - Get Free Report) last announced its earnings results on Thursday, July 17th. The company reported $4.72 earnings per share for the quarter, beating the consensus estimate of $4.61 by $0.11. Snap-On had a return on equity of 18.02% and a net margin of 20.98%.The firm had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.16 billion. During the same quarter in the previous year, the business earned $5.07 EPS. The firm's revenue for the quarter was up .0% on a year-over-year basis. On average, equities research analysts forecast that Snap-On will post 19.79 EPS for the current year.

Snap-On Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 19th will be paid a $2.14 dividend. This represents a $8.56 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, August 19th. Snap-On's payout ratio is currently 45.65%.

Insider Activity

In related news, CEO Nicholas T. Pinchuk sold 23,042 shares of the firm's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $320.88, for a total transaction of $7,393,716.96. Following the completion of the transaction, the chief executive officer owned 815,219 shares of the company's stock, valued at $261,587,472.72. This trade represents a 2.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karen L. Daniel sold 1,090 shares of Snap-On stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $319.92, for a total value of $348,712.80. Following the transaction, the director directly owned 8,030 shares in the company, valued at approximately $2,568,957.60. The trade was a 11.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,160 shares of company stock worth $16,650,792 over the last 90 days. 3.90% of the stock is currently owned by company insiders.

Institutional Trading of Snap-On

Hedge funds and other institutional investors have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its holdings in Snap-On by 1.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,308 shares of the company's stock worth $25,567,000 after buying an additional 770 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in shares of Snap-On by 9.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 2,984 shares of the company's stock valued at $1,013,000 after buying an additional 268 shares in the last quarter. Northern Trust Corp lifted its position in shares of Snap-On by 22.4% during the 4th quarter. Northern Trust Corp now owns 798,254 shares of the company's stock valued at $270,991,000 after acquiring an additional 145,861 shares during the last quarter. Lido Advisors LLC boosted its stake in shares of Snap-On by 81.5% during the 4th quarter. Lido Advisors LLC now owns 1,884 shares of the company's stock worth $639,000 after acquiring an additional 846 shares in the last quarter. Finally, Voleon Capital Management LP acquired a new position in shares of Snap-On in the 4th quarter worth $331,000. 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.

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