Snap One (NASDAQ:SNPO) Downgraded to “Market Perform” at William Blair

William Blair lowered shares of Snap One (NASDAQ:SNPO) from an outperform rating to a market perform rating in a research report sent to investors on Monday morning, Marketbeat Ratings reports.

Separately, UBS Group dropped their price objective on Snap One from $14.00 to $12.00 and set a buy rating on the stock in a report on Tuesday, February 27th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Snap One presently has an average rating of Hold and an average price target of $11.05.

Snap One Price Performance

SNPO opened at $10.58 on Monday. Snap One has a twelve month low of $6.70 and a twelve month high of $12.06. The company has a current ratio of 2.40, a quick ratio of 0.79 and a debt-to-equity ratio of 0.65. The firm has a market cap of $809.79 million, a price-to-earnings ratio of -37.78 and a beta of 1.27. The company has a fifty day simple moving average of $8.51 and a 200 day simple moving average of $8.35.

Snap One (NASDAQ:SNPO) last announced its earnings results on Thursday, March 7th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.02. Snap One had a positive return on equity of 2.77% and a negative net margin of 2.01%. The company had revenue of $264.39 million during the quarter, compared to the consensus estimate of $267.62 million. Equities research analysts expect that Snap One will post 0.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Snap One

A number of hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its holdings in Snap One by 533.0% during the 4th quarter. Barclays PLC now owns 4,836 shares of the company’s stock worth $35,000 after buying an additional 4,072 shares during the last quarter. Citigroup Inc. lifted its position in shares of Snap One by 1,447.8% in the 2nd quarter. Citigroup Inc. now owns 5,928 shares of the company’s stock worth $69,000 after buying an additional 5,545 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Snap One by 411.2% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,001 shares of the company’s stock valued at $55,000 after buying an additional 4,827 shares during the period. UBS Group AG raised its stake in Snap One by 2,779.6% during the fourth quarter. UBS Group AG now owns 7,890 shares of the company’s stock worth $58,000 after acquiring an additional 7,616 shares during the period. Finally, American International Group Inc. lifted its holdings in Snap One by 23.3% in the first quarter. American International Group Inc. now owns 8,839 shares of the company’s stock worth $130,000 after acquiring an additional 1,672 shares during the last quarter. 92.67% of the stock is currently owned by institutional investors and hedge funds.

About Snap One

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.