Snap-On Incorporated (SNA) Given Average Recommendation of “Buy” by Brokerages
Snap-On Incorporated (NYSE:SNA) has received a consensus rating of “Buy” from the eight research firms that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $197.00.
A number of equities research analysts recently weighed in on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $197.00 price objective on shares of Snap-On in a research report on Wednesday. BidaskClub raised Snap-On from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. FBR & Co set a $205.00 price objective on Snap-On and gave the company a “buy” rating in a research report on Friday, July 21st. Zacks Investment Research raised Snap-On from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Finally, Jefferies Group LLC reaffirmed a “hold” rating and set a $175.00 price objective on shares of Snap-On in a research report on Thursday, July 6th.
In other Snap-On news, VP Iain Boyd sold 18,418 shares of the firm’s stock in a transaction dated Monday, July 24th. The stock was sold at an average price of $147.54, for a total value of $2,717,391.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ruth Ann M. Gillis purchased 265 shares of the stock in a transaction on Friday, August 4th. The stock was acquired at an average cost of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the company. Adirondack Trust Co. increased its stake in shares of Snap-On by 2.5% in the first quarter. Adirondack Trust Co. now owns 624 shares of the company’s stock valued at $105,000 after buying an additional 15 shares in the last quarter. Morgan Dempsey Capital Management LLC increased its stake in Snap-On by 63.7% in the second quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock worth $107,000 after buying an additional 263 shares during the period. TrimTabs Asset Management LLC increased its stake in Snap-On by 88.4% in the first quarter. TrimTabs Asset Management LLC now owns 665 shares of the company’s stock worth $112,000 after buying an additional 312 shares during the period. Lloyds Banking Group plc purchased a new stake in Snap-On during the second quarter worth approximately $129,000. Finally, Van ECK Associates Corp increased its stake in Snap-On by 7.5% in the first quarter. Van ECK Associates Corp now owns 845 shares of the company’s stock worth $143,000 after buying an additional 59 shares during the period. 91.83% of the stock is owned by institutional investors and hedge funds.
Shares of Snap-On (NYSE SNA) traded down 0.06% during trading on Friday, reaching $152.76. 409,873 shares of the company were exchanged. The firm has a market capitalization of $8.80 billion, a P/E ratio of 15.81 and a beta of 1.05. The firm’s 50 day moving average is $154.83 and its 200 day moving average is $165.25. Snap-On has a 1-year low of $145.17 and a 1-year high of $181.73.
Snap-On (NYSE:SNA) last issued its quarterly earnings data on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, beating analysts’ consensus estimates of $2.55 by $0.05. Snap-On had a return on equity of 20.90% and a net margin of 16.22%. The company had revenue of $921.40 million for the quarter, compared to the consensus estimate of $920.87 million. During the same quarter last year, the company earned $2.36 earnings per share. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. On average, equities analysts anticipate that Snap-On will post $10.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 18th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 1.86%. The ex-dividend date is Wednesday, August 16th. Snap-On’s dividend payout ratio is presently 29.34%.
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Snap-On Company Profile
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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