Snap-on (SNA) Stock Rating Reaffirmed by Northcoast Research

Northcoast Research reissued their neutral rating on shares of Snap-on (NYSE:SNA) in a report published on Friday morning, Zacks.com reports.

Other research analysts have also recently issued reports about the company. Bank of America cut Snap-on from a buy rating to a neutral rating and set a $168.00 target price on the stock. in a research report on Tuesday, April 16th. Zacks Investment Research raised Snap-on from a sell rating to a hold rating in a research report on Thursday, April 11th. Barrington Research set a $185.00 target price on Snap-on and gave the stock a buy rating in a research report on Monday, April 22nd. Finally, Robert W. Baird cut Snap-on from an outperform rating to a neutral rating and dropped their target price for the stock from $186.00 to $160.00 in a research report on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Snap-on has a consensus rating of Hold and a consensus target price of $185.20.

Snap-on stock opened at $155.92 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.66 and a current ratio of 2.42. Snap-on has a one year low of $135.29 and a one year high of $189.46. The firm has a market cap of $9.07 billion, a P/E ratio of 13.20, a price-to-earnings-growth ratio of 1.58 and a beta of 1.28.

Snap-on (NYSE:SNA) last released its quarterly earnings data on Thursday, April 18th. The company reported $3.01 EPS for the quarter, beating the consensus estimate of $2.91 by $0.10. Snap-on had a return on equity of 21.66% and a net margin of 18.64%. The company had revenue of $921.70 million for the quarter, compared to analysts’ expectations of $933.13 million. During the same period last year, the firm posted $2.79 earnings per share. Snap-on’s revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts anticipate that Snap-on will post 12.35 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, June 10th. Shareholders of record on Tuesday, May 21st will be given a $0.95 dividend. The ex-dividend date is Monday, May 20th. This represents a $3.80 annualized dividend and a yield of 2.44%. Snap-on’s payout ratio is 32.18%.

In other news, VP Iain Boyd sold 26,500 shares of Snap-on stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $158.79, for a total transaction of $4,207,935.00. Following the transaction, the vice president now directly owns 19,038 shares of the company’s stock, valued at approximately $3,023,044.02. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Thomas J. Ward sold 21,000 shares of Snap-on stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $169.75, for a total value of $3,564,750.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,940 shares of company stock worth $12,627,100. Insiders own 3.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. CSat Investment Advisory L.P. raised its stake in Snap-on by 81.4% during the 4th quarter. CSat Investment Advisory L.P. now owns 205 shares of the company’s stock valued at $30,000 after purchasing an additional 92 shares during the period. Signaturefd LLC raised its stake in Snap-on by 326.7% during the 1st quarter. Signaturefd LLC now owns 192 shares of the company’s stock valued at $30,000 after purchasing an additional 147 shares during the period. Riverview Trust Co bought a new stake in Snap-on during the 4th quarter valued at approximately $33,000. Tributary Capital Management LLC bought a new stake in Snap-on during the 4th quarter valued at approximately $44,000. Finally, FTB Advisors Inc. raised its stake in Snap-on by 120.5% during the 1st quarter. FTB Advisors Inc. now owns 366 shares of the company’s stock valued at $56,000 after purchasing an additional 200 shares during the period.

Snap-on Company Profile

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.

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Analyst Recommendations for Snap-on (NYSE:SNA)

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