JPMorgan Chase & Co. Reaffirms “Neutral” Rating for Snap One (NASDAQ:SNPO)

JPMorgan Chase & Co. reaffirmed their neutral rating on shares of Snap One (NASDAQ:SNPO) in a report released on Tuesday, Benzinga reports. The firm currently has a $10.75 target price on the stock, down from their previous target price of $11.00.

Several other equities analysts also recently commented on SNPO. Truist Financial reiterated a hold rating and set a $10.75 price target (down previously from $12.00) on shares of Snap One in a report on Tuesday. William Blair downgraded Snap One from an outperform rating to a market perform rating in a report on Monday. Finally, UBS Group lowered their price objective on shares of Snap One from $14.00 to $12.00 and set a buy rating on the stock in a research note on Tuesday, February 27th. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Snap One currently has a consensus rating of Hold and a consensus price target of $11.05.

Snap One Trading Down 0.1 %

NASDAQ:SNPO opened at $10.58 on Tuesday. Snap One has a 52 week low of $6.70 and a 52 week high of $12.06. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.79 and a current ratio of 2.40. The stock’s 50 day moving average price is $8.51 and its 200 day moving average price is $8.35. The company has a market capitalization of $809.79 million, a P/E ratio of -37.78 and a beta of 1.27.

Snap One (NASDAQ:SNPO) last announced its quarterly earnings results on Thursday, March 7th. The company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.05 by $0.02. Snap One had a positive return on equity of 2.77% and a negative net margin of 2.01%. The company had revenue of $264.39 million for the quarter, compared to the consensus estimate of $267.62 million. On average, research analysts forecast that Snap One will post 0.38 EPS for the current fiscal year.

Institutional Investors Weigh In On Snap One

Hedge funds and other institutional investors have recently modified their holdings of the stock. Barclays PLC lifted its position in Snap One by 533.0% in the fourth quarter. Barclays PLC now owns 4,836 shares of the company’s stock worth $35,000 after purchasing an additional 4,072 shares during the period. Tower Research Capital LLC TRC lifted its position in Snap One by 411.2% in the third quarter. Tower Research Capital LLC TRC now owns 6,001 shares of the company’s stock worth $55,000 after purchasing an additional 4,827 shares during the period. UBS Group AG lifted its position in Snap One by 2,779.6% in the fourth quarter. UBS Group AG now owns 7,890 shares of the company’s stock worth $58,000 after purchasing an additional 7,616 shares during the period. Citigroup Inc. lifted its position in Snap One by 1,447.8% in the second quarter. Citigroup Inc. now owns 5,928 shares of the company’s stock worth $69,000 after purchasing an additional 5,545 shares during the period. Finally, Jane Street Group LLC bought a new position in Snap One in the fourth quarter worth $86,000. Institutional investors and hedge funds own 92.67% of the company’s stock.

About Snap One

Snap One Holdings Corp. provides smart-living solutions in the United States and internationally. The company offers end-to-end product and software ecosystem and technology-enabled workflow solutions. It also provides connected products, including networking, control and lighting, surveillance, and power products; entertainment products for indoor and outdoor solutions, such as media distribution products, as well as audio and video products; and infrastructure products, which include structured wiring and cable products, racks, and mounts.