Snap-On (NYSE:SNA) Hits New 52-Week High – Should You Buy?

Snap-On Incorporated (NYSE:SNA)’s stock price hit a new 52-week high on Thursday . The stock traded as high as $389.31 and last traded at $389.57, with a volume of 32017 shares changing hands. The stock had previously closed at $382.68.

Wall Street Analysts Forecast Growth

SNA has been the topic of a number of recent analyst reports. Tigress Financial increased their price target on shares of Snap-On from $395.00 to $405.00 and gave the company a “buy” rating in a report on Tuesday, October 21st. Wall Street Zen lowered Snap-On from a “buy” rating to a “hold” rating in a report on Saturday, February 7th. Roth Mkm reiterated a “buy” rating and issued a $409.00 price objective (up from $385.00) on shares of Snap-On in a report on Tuesday. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Finally, Robert W. Baird set a $375.00 price objective on shares of Snap-On in a research report on Friday, February 6th. Five research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Snap-On presently has an average rating of “Moderate Buy” and an average target price of $370.67.

Snap-On Stock Down 0.4%

The company has a 50-day moving average of $359.02 and a two-hundred day moving average of $342.68. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.79 and a quick ratio of 3.68. The company has a market capitalization of $19.83 billion, a PE ratio of 19.91, a P/E/G ratio of 2.59 and a beta of 0.81.

Snap-On (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 5th. The company reported $4.94 EPS for the quarter, topping the consensus estimate of $4.86 by $0.08. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.82 earnings per share. Sell-side analysts anticipate that Snap-On Incorporated will post 19.79 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Richard Thomas Miller sold 2,000 shares of the stock in a transaction on Thursday, December 4th. The shares were sold at an average price of $348.27, for a total value of $696,540.00. Following the completion of the sale, the vice president directly owned 4,158 shares of the company’s stock, valued at $1,448,106.66. This represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 22,607 shares of Snap-On stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $339.15, for a total transaction of $7,667,164.05. Following the transaction, the chief executive officer owned 826,364 shares in the company, valued at approximately $280,261,350.60. This trade represents a 2.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 48,036 shares of company stock valued at $16,792,028. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lansforsakringar Fondforvaltning AB publ lifted its holdings in shares of Snap-On by 1.2% in the fourth quarter. Lansforsakringar Fondforvaltning AB publ now owns 16,744 shares of the company’s stock worth $5,770,000 after buying an additional 199 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of Snap-On by 0.6% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 62,256 shares of the company’s stock valued at $21,460,000 after purchasing an additional 354 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its holdings in shares of Snap-On by 235.8% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 8,213 shares of the company’s stock worth $2,830,000 after purchasing an additional 5,767 shares during the last quarter. Wedbush Securities Inc. boosted its stake in Snap-On by 8.1% during the fourth quarter. Wedbush Securities Inc. now owns 4,099 shares of the company’s stock valued at $1,413,000 after buying an additional 307 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB boosted its stake in Snap-On by 4.1% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,806 shares of the company’s stock valued at $967,000 after buying an additional 111 shares during the last quarter. 84.88% of the stock is currently owned by institutional investors.

Snap-On Company Profile

Snap‑On Incorporated (NYSE: SNA) is a designer, manufacturer and marketer of tools, diagnostic equipment, repair information and shop equipment for professional users. The company’s product range includes hand and power tools, tool storage and cabinets, diagnostic scan tools and software, shop equipment such as lifts and tire changers, and specialized specialty tools for automotive, aviation, marine and industrial applications. Snap‑On also offers information and workflow solutions that combine diagnostic data, repair procedures and parts information to support professional technicians.

Founded in 1920 and headquartered in Kenosha, Wisconsin, Snap‑On has established a long history in the professional tools market.