Snap-On Inc. (SNA) Stock Price Down 3%
Snap-On Inc. (NYSE:SNA)’s share price dropped 3% during mid-day trading on Thursday . The stock traded as low as $155.31 and last traded at $156.72, with a volume of 570,880 shares changing hands. The stock had previously closed at $161.62.
SNA has been the topic of several research analyst reports. Zacks Investment Research upgraded Snap-On from a “sell” rating to a “hold” rating in a research report on Monday, April 18th. CL King started coverage on Snap-On in a report on Monday, June 27th. They issued a “buy” rating and a $174.00 target price on the stock. Finally, Robert W. Baird restated a “buy” rating on shares of Snap-On in a report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Snap-On currently has a consensus rating of “Buy” and an average price target of $176.56.
The firm has a market capitalization of $9.07 billion and a price-to-earnings ratio of 18.60. The company has a 50 day moving average of $157.31 and a 200 day moving average of $156.42.
Snap-On (NYSE:SNA) last announced its earnings results on Thursday, July 21st. The company reported $2.36 EPS for the quarter, topping the consensus estimate of $2.23 by $0.13. The business earned $872.30 million during the quarter, compared to analyst estimates of $876.70 million. During the same period in the previous year, the firm earned $2.03 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. Equities analysts expect that Snap-On Inc. will post $9.01 EPS for the current year.
In other news, VP Jeanne M. Moreno sold 10,417 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was sold at an average price of $164.71, for a total value of $1,715,784.07. Following the transaction, the vice president now directly owns 13,944 shares of the company’s stock, valued at approximately $2,296,716.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Anup R. Banerjee sold 6,000 shares of the business’s stock in a transaction that occurred on Monday, April 25th. The stock was sold at an average price of $161.22, for a total value of $967,320.00. Following the completion of the transaction, the senior vice president now directly owns 6,000 shares in the company, valued at $967,320. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have made changes to their positions in SNA. Victory Capital Management Inc. increased its position in shares of Snap-On by 16.5% in the fourth quarter. Victory Capital Management Inc. now owns 6,457 shares of the company’s stock valued at $1,107,000 after buying an additional 914 shares during the last quarter. Suntrust Banks Inc. increased its position in Snap-On by 6.4% in the fourth quarter. Suntrust Banks Inc. now owns 6,687 shares of the company’s stock valued at $1,146,000 after buying an additional 404 shares in the last quarter. I.G. Investment Management LTD. increased its position in Snap-On by 2.2% in the fourth quarter. I.G. Investment Management LTD. now owns 6,730 shares of the company’s stock valued at $1,154,000 after buying an additional 142 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. increased its position in Snap-On by 6.5% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 7,744 shares of the company’s stock valued at $1,328,000 after buying an additional 471 shares in the last quarter. Finally, ProShare Advisors LLC increased its position in Snap-On by 8.7% in the fourth quarter. ProShare Advisors LLC now owns 8,524 shares of the company’s stock valued at $1,461,000 after buying an additional 682 shares in the last quarter.
Snap-on Incorporated (Snap-on) is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, Government and military, mining, natural resources, power generation and technical education.
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