Barrington Research Reiterates Outperform Rating for Snap-On (NYSE:SNA)

Snap-On (NYSE:SNA - Get Free Report)'s stock had its "outperform" rating reaffirmed by equities researchers at Barrington Research in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $350.00 target price on the stock. Barrington Research's price target points to a potential upside of 11.64% from the stock's previous close.

Other analysts have also issued reports about the company. Robert W. Baird lowered their price objective on Snap-On from $349.00 to $320.00 and set a "neutral" rating for the company in a report on Monday, April 21st. Longbow Research raised Snap-On from a "neutral" rating to a "buy" rating and set a $400.00 price objective for the company in a report on Monday, March 31st. Finally, Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $350.83.

Snap-On Stock Up 0.1%

Shares of NYSE:SNA traded up $0.43 during trading on Tuesday, hitting $313.50. The company's stock had a trading volume of 509,484 shares, compared to its average volume of 369,176. The company has a debt-to-equity ratio of 0.21, a quick ratio of 3.18 and a current ratio of 4.14. Snap-On has a fifty-two week low of $266.55 and a fifty-two week high of $373.90. The stock's 50-day moving average price is $318.08 and its two-hundred day moving average price is $327.95. The company has a market capitalization of $16.39 billion, a PE ratio of 16.41, a PEG ratio of 2.28 and a beta of 0.76.

Snap-On (NYSE:SNA - Get Free Report) last released its quarterly earnings results on Thursday, April 17th. The company reported $4.51 EPS for the quarter, missing the consensus estimate of $4.81 by ($0.30). Snap-On had a return on equity of 18.60% and a net margin of 21.42%. The business had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the firm posted $4.91 EPS. As a group, sell-side analysts expect that Snap-On will post 19.79 EPS for the current year.

Insider Buying and Selling

In other Snap-On news, Director Karen L. Daniel sold 1,090 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $319.92, for a total transaction of $348,712.80. Following the completion of the transaction, the director directly owned 8,030 shares of the company's stock, valued at approximately $2,568,957.60. This trade represents a 11.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas T. Pinchuk sold 23,172 shares of the 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 29,815 shares of company stock valued at $9,482,532 in the last three months. 3.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Snap-On

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ethic Inc. boosted its stake in Snap-On by 18.6% during the 4th quarter. Ethic Inc. now owns 9,212 shares of the company's stock valued at $3,127,000 after purchasing an additional 1,445 shares in the last quarter. Geode Capital Management LLC boosted its stake in Snap-On by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 1,641,159 shares of the company's stock valued at $556,022,000 after purchasing an additional 27,700 shares in the last quarter. DAVENPORT & Co LLC bought a new position in Snap-On during the 1st quarter valued at $218,000. OneDigital Investment Advisors LLC boosted its stake in Snap-On by 26.4% during the 1st quarter. OneDigital Investment Advisors LLC now owns 867 shares of the company's stock valued at $292,000 after purchasing an additional 181 shares in the last quarter. Finally, Vontobel Holding Ltd. lifted its position in shares of Snap-On by 27.4% during the 1st quarter. Vontobel Holding Ltd. now owns 13,636 shares of the company's stock valued at $4,595,000 after acquiring an additional 2,932 shares during the last quarter. 84.88% of the stock is 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.