Snap-On (NYSE:SNA) Receives "Buy (B)" Rating from Weiss Ratings

Key Points

• Snap-On's stock has received a reaffirmed "Buy (B)" rating from Weiss Ratings, reflecting positive sentiment among analysts.
• The average target price for Snap-On shares is currently $357.00, with five analysts rating it as a Buy, indicating strong investor confidence.
• Recently, Snap-On's stock price has increased by 0.8%, reaching $339.70, with shares exhibiting strong trading volume compared to its average.

Snap-On (NYSE:SNA - Get Free Report)'s stock had its "buy (b)" rating reaffirmed by analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

SNA has been the topic of a number of other reports. Barrington Research reissued an "outperform" rating and set a $350.00 price target on shares of Snap-On in a research note on Tuesday, September 23rd. Tigress Financial lifted their price target on Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a research note on Friday, August 29th. Robert W. Baird lifted their price target on Snap-On from $329.00 to $347.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Finally, Bank of America lifted their price target on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a research note on Friday, July 18th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $357.00.

Snap-On Stock Up 0.8%

Shares of Snap-On stock traded up $2.86 on Wednesday, reaching $339.70. 381,124 shares of the company were exchanged, compared to its average volume of 353,271. Snap-On has a one year low of $285.00 and a one year high of $373.89. The company has a market capitalization of $17.72 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 2.34 and a beta of 0.78. The company has a current ratio of 4.48, a quick ratio of 3.42 and a debt-to-equity ratio of 0.21. The company has a 50-day moving average of $330.79 and a 200 day moving average of $323.89.

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

Insider Activity at Snap-On

In related news, CFO Aldo John Pagliari sold 4,731 shares of Snap-On stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $327.38, for a total transaction of $1,548,834.78. Following the transaction, the chief financial officer owned 111,667 shares of the company's stock, valued at $36,557,542.46. The trade was a 4.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of Snap-On stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $320.88, for a total value of $7,393,716.96. Following the transaction, the chief executive officer directly owned 815,219 shares in the company, valued at approximately $261,587,472.72. The trade was a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,898 shares of company stock worth $8,983,203. 3.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Alpine Bank Wealth Management purchased a new position in Snap-On in the first quarter worth $25,000. Tobam purchased a new position in Snap-On in the second quarter worth $29,000. Ameritas Advisory Services LLC purchased a new position in Snap-On in the second quarter worth $30,000. Vermillion & White Wealth Management Group LLC boosted its position in Snap-On by 97.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 95 shares of the company's stock worth $30,000 after purchasing an additional 47 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of Snap-On by 421.1% in the first quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after buying an additional 80 shares during the period. Hedge funds and other 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.

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