Weiss Ratings Reiterates Buy (B) Rating for Snap-On (NYSE:SNA)

Key Points

• Weiss Ratings has reaffirmed a "buy (B)" rating for Snap-On (NYSE:SNA), signaling strong confidence in the company's stock.
• Several analysts have adjusted their price targets for Snap-On, with Tigress Financial increasing its target to $405 and Bank of America raising it to $285, highlighting varied outlooks among analysts.
• Snap-On reported quarterly earnings of $4.71 per share, exceeding expectations, with a revenue increase of 3.8% year-over-year, further establishing its financial stability.

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

Several other analysts have also commented on SNA. Tigress Financial increased their price objective on Snap-On from $395.00 to $405.00 and gave the company a "buy" rating in a report on Tuesday. Robert W. Baird increased their price objective on Snap-On from $355.00 to $365.00 and gave the company a "neutral" rating in a report on Friday, October 17th. Bank of America increased their price objective on Snap-On from $265.00 to $285.00 and gave the company an "underperform" rating in a report on Friday, July 18th. Roth Capital reiterated a "buy" rating and set a $385.00 price objective on shares of Snap-On in a report on Friday, October 17th. Finally, Wall Street Zen raised Snap-On from a "hold" rating to a "buy" rating in a research report on Saturday, October 18th. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, Snap-On presently has an average rating of "Moderate Buy" and a consensus price target of $365.00.

Snap-On Stock Down 0.7%

Snap-On stock opened at $344.10 on Friday. The business has a fifty day moving average of $334.54 and a two-hundred day moving average of $324.63. The company has a quick ratio of 3.37, a current ratio of 4.40 and a debt-to-equity ratio of 0.20. The firm has a market cap of $17.90 billion, a P/E ratio of 18.04, a P/E/G ratio of 2.40 and a beta of 0.78. Snap-On has a twelve month low of $289.81 and a twelve month high of $373.89.

Snap-On (NYSE:SNA - Get Free Report) last posted its earnings results on Thursday, October 16th. The company reported $4.71 earnings per share for the quarter, topping analysts' consensus estimates of $4.59 by $0.12. The company had revenue of $1.19 billion during the quarter, compared to analyst estimates of $1.16 billion. Snap-On had a return on equity of 17.71% and a net margin of 21.08%.Snap-On's revenue was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.70 earnings per share. On average, analysts forecast that Snap-On will post 19.79 earnings per share for the current fiscal year.

Insider Activity

In other Snap-On news, CEO Nicholas T. Pinchuk sold 23,042 shares of the 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 sale, the chief executive officer directly owned 815,219 shares of the company's stock, valued at approximately $261,587,472.72. This trade represents a 2.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Aldo John Pagliari sold 125 shares of the stock in a transaction dated 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 directly owned 111,721 shares in the company, valued at $36,332,786.41. This represents a 0.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 27,898 shares of company stock worth $8,983,203 over the last ninety days. 3.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Snap-On

A number of institutional investors have recently modified their holdings of SNA. GAMMA Investing LLC grew its position in shares of Snap-On by 93.5% during the 1st quarter. GAMMA Investing LLC now owns 2,086 shares of the company's stock valued at $703,000 after acquiring an additional 1,008 shares during the period. Cambridge Investment Research Advisors Inc. grew its position in shares of Snap-On by 4.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 15,982 shares of the company's stock valued at $5,386,000 after acquiring an additional 689 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Snap-On by 1.6% during the 1st quarter. Asset Management One Co. Ltd. now owns 21,642 shares of the company's stock valued at $7,294,000 after acquiring an additional 346 shares during the period. Golden State Wealth Management LLC grew its position in shares of Snap-On by 421.1% during the 1st quarter. Golden State Wealth Management LLC now owns 99 shares of the company's stock valued at $33,000 after acquiring an additional 80 shares during the period. Finally, Perigon Wealth Management LLC grew its position in shares of Snap-On by 7.5% during the 1st quarter. Perigon Wealth Management LLC now owns 933 shares of the company's stock valued at $315,000 after acquiring an additional 65 shares during the period. 84.88% of the stock is currently owned by institutional investors and hedge funds.

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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