Snap-on (NYSE:SNA) Receives “Outperform” Rating from Barrington Research

Barrington Research reissued their outperform rating on shares of Snap-on (NYSE:SNA) in a research note published on Monday, Benzinga reports. Barrington Research currently has a $325.00 price target on the stock.

Separately, Tigress Financial reissued a buy rating and issued a $336.00 price objective on shares of Snap-on in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Snap-on presently has an average rating of Hold and a consensus price target of $306.00.

Snap-on Stock Performance

SNA opened at $261.76 on Monday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.81 and a current ratio of 3.88. The business’s 50-day simple moving average is $283.65 and its 200 day simple moving average is $278.16. The firm has a market capitalization of $13.83 billion, a PE ratio of 13.96, a PEG ratio of 2.02 and a beta of 0.99. Snap-on has a 52-week low of $239.08 and a 52-week high of $298.49.

Snap-on (NYSE:SNA) last announced its quarterly earnings data on Thursday, February 8th. The company reported $4.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.66 by $0.09. Snap-on had a return on equity of 20.89% and a net margin of 21.38%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the business posted $4.42 EPS. The business’s revenue was up 3.5% compared to the same quarter last year. As a group, sell-side analysts expect that Snap-on will post 19.22 earnings per share for the current fiscal year.

Snap-on Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 26th were issued a dividend of $1.86 per share. This represents a $7.44 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend was Friday, February 23rd. Snap-on’s dividend payout ratio is 39.68%.

Insider Buying and Selling at Snap-on

In other news, VP Richard Thomas Miller sold 704 shares of the firm’s stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now owns 3,213 shares in the company, valued at approximately $957,988.08. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Snap-on news, VP Richard Thomas Miller sold 704 shares of the stock in a transaction dated Thursday, March 28th. The shares were sold at an average price of $298.16, for a total value of $209,904.64. Following the transaction, the vice president now directly owns 3,213 shares of the company’s stock, valued at approximately $957,988.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Aldo John Pagliari sold 3,231 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $270.58, for a total transaction of $874,243.98. Following the sale, the chief financial officer now owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The disclosure for this sale can be found here. Insiders have sold a total of 47,368 shares of company stock worth $13,399,449 over the last ninety days. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Snap-on by 15.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,573 shares of the company’s stock valued at $1,355,000 after acquiring an additional 614 shares in the last quarter. Claro Advisors LLC grew its position in shares of Snap-on by 6.1% during the 1st quarter. Claro Advisors LLC now owns 3,372 shares of the company’s stock worth $999,000 after purchasing an additional 193 shares in the last quarter. Diversified Trust Co raised its position in shares of Snap-on by 7.4% in the first quarter. Diversified Trust Co now owns 3,755 shares of the company’s stock valued at $1,112,000 after buying an additional 260 shares in the last quarter. Hennion & Walsh Asset Management Inc. bought a new stake in shares of Snap-on in the first quarter valued at approximately $422,000. Finally, MCF Advisors LLC grew its position in Snap-on by 12.9% during the first quarter. MCF Advisors LLC now owns 843 shares of the company’s stock worth $250,000 after buying an additional 96 shares in the last quarter. 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.