Snap-On (NYSE:SNA) Stock Price Expected to Rise, Tigress Financial Analyst Says

Snap-On (NYSE:SNA) had its target price hoisted by research analysts at Tigress Financial from $405.00 to $445.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Tigress Financial’s target price would indicate a potential upside of 15.60% from the stock’s previous close.

A number of other research firms have also weighed in on SNA. Wall Street Zen cut shares of Snap-On from a “buy” rating to a “hold” rating in a research note on Saturday, February 7th. Robert W. Baird set a $375.00 price target on Snap-On in a research report on Friday, February 6th. Roth Mkm reiterated a “buy” rating and set a $409.00 price objective (up from $385.00) on shares of Snap-On in a research report on Tuesday, February 10th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Snap-On in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $377.33.

Snap-On Price Performance

Shares of SNA traded down $1.72 during mid-day trading on Friday, hitting $384.95. 357,473 shares of the company were exchanged, compared to its average volume of 349,593. The stock has a market cap of $19.98 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 2.67 and a beta of 0.81. Snap-On has a 1-year low of $289.81 and a 1-year high of $390.13. The company has a 50 day moving average of $367.03 and a 200-day moving average of $347.30. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.68 and a current ratio of 4.79.

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 company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.24 billion. Snap-On had a return on equity of 17.34% and a net margin of 21.44%.Snap-On’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period in the previous year, the business earned $4.82 EPS. Analysts expect that Snap-On will post 19.79 EPS for the current fiscal year.

Insider Transactions at Snap-On

In other news, CFO Aldo John Pagliari sold 7,043 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The shares were sold at an average price of $382.05, for a total value of $2,690,778.15. Following the sale, the chief financial officer directly owned 117,183 shares of the company’s stock, valued at approximately $44,769,765.15. The trade was a 5.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP June C. Lemerand sold 1,378 shares of the company’s stock in a transaction that occurred on Wednesday, February 25th. The stock was sold at an average price of $387.57, for a total transaction of $534,071.46. Following the completion of the transaction, the vice president owned 2,913 shares in the company, valued at approximately $1,128,991.41. This represents a 32.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 75,855 shares of company stock worth $27,629,827 in the last 90 days. Insiders own 3.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in SNA. Kennebec Savings Bank raised its holdings in Snap-On by 3.6% during the fourth quarter. Kennebec Savings Bank now owns 783 shares of the company’s stock worth $270,000 after purchasing an additional 27 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its stake in Snap-On by 36.4% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 105 shares of the company’s stock worth $36,000 after acquiring an additional 28 shares in the last quarter. Verition Fund Management LLC lifted its position in Snap-On by 1.5% in the fourth quarter. Verition Fund Management LLC now owns 1,844 shares of the company’s stock valued at $635,000 after acquiring an additional 28 shares during the last quarter. BankPlus Trust Department grew its holdings in shares of Snap-On by 5.9% during the third quarter. BankPlus Trust Department now owns 541 shares of the company’s stock worth $187,000 after purchasing an additional 30 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Snap-On by 0.4% during the third quarter. Nisa Investment Advisors LLC now owns 7,346 shares of the company’s stock worth $2,546,000 after purchasing an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

About Snap-On

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.