Snap-On (NYSE:SNA) Upgraded at Wall Street Zen

Key Points

• Snap-On was upgraded from "hold" to "buy" by Wall Street Zen, indicating increased analyst confidence in the company's potential.
• Snap-On reported earnings of $4.71 per share for the latest quarter, exceeding estimates and demonstrating a 3.8% year-over-year revenue increase.
• The company has received multiple "buy" ratings from various analysts, with a consensus target price of $363.57 for the stock.

Snap-On (NYSE:SNA - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

SNA has been the subject of a number of other reports. Roth Capital reaffirmed a "buy" rating and issued a $385.00 target price on shares of Snap-On in a report on Friday. Tigress Financial increased their target price on shares of Snap-On from $390.00 to $395.00 and gave the company a "buy" rating in a report on Friday, August 29th. Robert W. Baird increased their target price on shares of Snap-On from $355.00 to $365.00 and gave the company a "neutral" rating in a report on Friday. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Snap-On in a report on Wednesday, October 8th. Finally, Barrington Research restated an "outperform" rating and set a $350.00 target price on shares of Snap-On in a research report on Wednesday. Six research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $363.57.

Snap-On Stock Down 1.3%

Shares of NYSE:SNA opened at $339.61 on Friday. The company has a market cap of $17.71 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.39 and a beta of 0.78. The firm's 50-day simple moving average is $332.77 and its 200-day simple moving average is $323.84. The company has a quick ratio of 3.42, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. Snap-On has a fifty-two week low of $289.81 and a fifty-two week high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last issued its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, beating the consensus estimate of $4.59 by $0.12. The business had revenue of $1.19 billion for the quarter, compared to the consensus estimate of $1.16 billion. Snap-On had a net margin of 21.08% and a return on equity of 17.71%. The business's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.70 earnings per share. As a group, equities research analysts predict that Snap-On will post 19.79 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction on Friday, August 15th. The stock was sold at an average price of $325.21, for a total value of $40,651.25. Following the sale, the chief financial officer owned 111,721 shares in the company, valued at approximately $36,332,786.41. This represents a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Nicholas T. Pinchuk sold 23,042 shares of the stock in a transaction 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 completion of the sale, the chief executive officer owned 815,219 shares in the company, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 27,898 shares of company stock worth $8,983,203. 3.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. HM Payson & Co. increased its position in Snap-On by 6.0% during the 3rd quarter. HM Payson & Co. now owns 812 shares of the company's stock worth $281,000 after buying an additional 46 shares during the period. Everpar Advisors LLC bought a new position in Snap-On during the 3rd quarter worth $223,000. Sowell Financial Services LLC increased its position in Snap-On by 3.2% during the 3rd quarter. Sowell Financial Services LLC now owns 1,234 shares of the company's stock worth $428,000 after buying an additional 38 shares during the period. BankPlus Trust Department increased its position in Snap-On by 5.9% during the 3rd quarter. BankPlus Trust Department now owns 541 shares of the company's stock worth $187,000 after buying an additional 30 shares during the period. Finally, Beacon Investment Advisory Services Inc. increased its position in Snap-On by 23.6% during the 3rd quarter. Beacon Investment Advisory Services Inc. now owns 22,877 shares of the company's stock worth $7,928,000 after buying an additional 4,362 shares during the period. Institutional investors own 84.88% of the company's stock.

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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