Snap-on’s (SNA) Outperform Rating Reiterated at Barrington Research

Barrington Research reissued their outperform rating on shares of Snap-on (NYSE:SNA) in a research report released on Friday morning, Benzinga reports. The firm currently has a $325.00 price objective on the stock.

Other research analysts also recently issued research reports about the company. Roth Mkm restated a buy rating and set a $324.00 price target on shares of Snap-on in a research note on Tuesday, July 16th. Tigress Financial restated a buy rating and set a $336.00 price target on shares of Snap-on in a research note on Thursday, July 25th. Finally, Robert W. Baird dropped their price target on Snap-on from $282.00 to $275.00 and set a neutral rating on the stock in a research note on Friday, July 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $315.00.

Snap-on Trading Up 0.6 %

SNA opened at $284.80 on Friday. Snap-on has a one year low of $249.84 and a one year high of $298.49. The company has a market cap of $15.01 billion, a P/E ratio of 14.94, a PEG ratio of 1.95 and a beta of 0.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 3.05 and a current ratio of 4.06. The business’s 50-day simple moving average is $277.51 and its 200-day simple moving average is $276.50.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, July 18th. The company reported $5.07 EPS for the quarter, beating analysts’ consensus estimates of $4.94 by $0.13. Snap-on had a return on equity of 19.90% and a net margin of 21.90%. The business had revenue of $1.18 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business posted $4.89 EPS. The business’s revenue for the quarter was down 1.0% on a year-over-year basis. As a group, equities research analysts expect that Snap-on will post 18.95 EPS for the current fiscal year.

Snap-on announced that its board has authorized a share repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Snap-on Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Shareholders of record on Monday, August 19th were given a dividend of $1.86 per share. The ex-dividend date of this dividend was Monday, August 19th. This represents a $7.44 dividend on an annualized basis and a yield of 2.61%. Snap-on’s payout ratio is 39.03%.

Insiders Place Their Bets

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at approximately $204,138,160.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP June C. Lemerand sold 1,186 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the completion of the sale, the vice president now directly owns 2,283 shares of the company’s stock, valued at approximately $648,303.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total value of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 29,804 shares of company stock valued at $8,077,390. 4.10% of the stock is owned by company insiders.

Institutional Trading of Snap-on

Several hedge funds have recently modified their holdings of the business. Renasant Bank lifted its holdings in shares of Snap-on by 2.3% in the 1st quarter. Renasant Bank now owns 1,592 shares of the company’s stock valued at $472,000 after buying an additional 36 shares during the period. Phillips Wealth Planners LLC lifted its holdings in shares of Snap-on by 3.8% in the 1st quarter. Phillips Wealth Planners LLC now owns 1,012 shares of the company’s stock valued at $286,000 after buying an additional 37 shares during the period. TFB Advisors LLC lifted its holdings in shares of Snap-on by 3.2% in the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock valued at $320,000 after buying an additional 38 shares during the period. Financial Advocates Investment Management raised its holdings in Snap-on by 1.2% during the second quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock worth $878,000 after purchasing an additional 39 shares during the last quarter. Finally, Ritholtz Wealth Management raised its holdings in Snap-on by 4.0% during the second quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock worth $265,000 after purchasing an additional 39 shares during the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.

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.