Snap-On Incorporated (SNA) Hits New 52-Week Low at $141.03
Shares of Snap-On Incorporated (NYSE:SNA) hit a new 52-week low on Tuesday . The stock traded as low as $141.03 and last traded at $141.01, with a volume of 658,576 shares changing hands. The stock had previously closed at $141.70.
Several analysts recently weighed in on SNA shares. Jefferies Group LLC restated a “hold” rating and set a $175.00 target price on shares of Snap-On in a research note on Wednesday, May 31st. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $200.00 target price on shares of Snap-On in a research note on Thursday, June 1st. BidaskClub upgraded Snap-On from a “strong sell” rating to a “sell” rating in a research note on Wednesday, July 5th. FBR & Co restated an “outperform” rating and set a $205.00 target price on shares of Snap-On in a research note on Tuesday, July 11th. Finally, Zacks Investment Research downgraded Snap-On from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Snap-On has an average rating of “Hold” and a consensus target price of $197.86.
The company’s 50-day moving average is $152.24 and its 200-day moving average is $162.42. The stock has a market capitalization of $8.15 billion, a PE ratio of 14.65 and a beta of 1.05.
Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 20th. The company reported $2.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.05. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The company had revenue of $921.40 million during the quarter, compared to analyst estimates of $920.87 million. During the same quarter last year, the business posted $2.36 EPS. Snap-On’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts expect that Snap-On Incorporated will post $10.09 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Friday, August 18th will be paid a dividend of $0.71 per share. The ex-dividend date is Wednesday, August 16th. This represents a $2.84 annualized dividend and a dividend yield of 2.01%. Snap-On’s payout ratio is currently 29.34%.
Snap-On declared that its board has approved a stock buyback program on Monday, August 7th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.
In other Snap-On news, Director Ruth Ann M. Gillis acquired 265 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was bought at an average cost of $152.58 per share, with a total value of $40,433.70. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Iain Boyd sold 18,418 shares of the firm’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $147.54, for a total transaction of $2,717,391.72. The disclosure for this sale can be found here. 3.70% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNA. Morgan Dempsey Capital Management LLC increased its position in Snap-On by 63.7% in the second quarter. Morgan Dempsey Capital Management LLC now owns 676 shares of the company’s stock valued at $107,000 after buying an additional 263 shares during the period. TrimTabs Asset Management LLC increased its position in Snap-On by 88.4% in the first quarter. TrimTabs Asset Management LLC now owns 665 shares of the company’s stock valued at $112,000 after buying an additional 312 shares during the period. Acrospire Investment Management LLC increased its position in Snap-On by 700.0% in the second quarter. Acrospire Investment Management LLC now owns 800 shares of the company’s stock valued at $126,000 after buying an additional 700 shares during the period. San Francisco Sentry Investment Group CA acquired a new position in Snap-On during the second quarter valued at approximately $126,000. Finally, Lloyds Banking Group plc acquired a new position in Snap-On during the second quarter valued at approximately $129,000. 93.32% of the stock is owned by institutional investors.
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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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