Snap-On Inc. (SNA) Stock Price Down 3%
Snap-On Inc. (NYSE:SNA) shares dropped 3% on Thursday . The stock traded as low as $155.31 and last traded at $156.72, with a volume of 570,880 shares. The stock had previously closed at $161.62.
SNA has been the topic of several research reports. Zacks Investment Research raised Snap-On from a “sell” rating to a “hold” rating in a research report on Monday, April 18th. CL King initiated coverage on Snap-On in a research report on Monday, June 27th. They issued a “buy” rating and a $174.00 target price on the stock. Finally, Robert W. Baird reaffirmed a “buy” rating on shares of Snap-On in a research report on Tuesday, June 28th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $176.56.
The company’s 50-day moving average price is $156.98 and its 200 day moving average price is $156.34. The company has a market cap of $9.20 billion and a price-to-earnings ratio of 18.87.
Snap-On (NYSE:SNA) last posted its quarterly earnings results on Thursday, July 21st. The company reported $2.36 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.23 by $0.13. The company earned $872.30 million during the quarter, compared to the consensus estimate of $876.70 million. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.03 earnings per share. On average, equities research analysts expect that Snap-On Inc. will post $9.01 earnings per share for the current year.
In other Snap-On news, VP Jeanne M. Moreno sold 10,417 shares of Snap-On stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $164.71, for a total transaction of $1,715,784.07. Following the transaction, the vice president now directly owns 13,944 shares in the company, valued at $2,296,716.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Anup R. Banerjee sold 6,000 shares of Snap-On stock in a transaction dated Monday, April 25th. The stock was sold at an average price of $161.22, for a total value of $967,320.00. Following the transaction, the senior vice president now owns 6,000 shares in the company, valued at $967,320. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have bought and sold shares of SNA. Vanguard Group Inc. raised its position in Snap-On by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 4,850,322 shares of the company’s stock valued at $831,491,000 after buying an additional 135,197 shares in the last quarter. Wells Fargo & Company MN raised its position in Snap-On by 1.5% in the fourth quarter. Wells Fargo & Company MN now owns 568,634 shares of the company’s stock valued at $97,482,000 after buying an additional 8,355 shares in the last quarter. Foresters Investment Management Company Inc. raised its position in Snap-On by 8.3% in the fourth quarter. Foresters Investment Management Company Inc. now owns 335,780 shares of the company’s stock valued at $57,563,000 after buying an additional 25,800 shares in the last quarter. Morgan Stanley raised its position in Snap-On by 2.2% in the fourth quarter. Morgan Stanley now owns 252,282 shares of the company’s stock valued at $43,249,000 after buying an additional 5,529 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in Snap-On by 2.3% in the fourth quarter. Principal Financial Group Inc. now owns 174,669 shares of the company’s stock valued at $29,944,000 after buying an additional 3,861 shares in the last quarter.
Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. Its Commercial & Industrial Group segment consists of business operations serving a range of industrial and commercial customers across the world.
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