Snap-on’s (SNA) Outperform Rating Reiterated at Barrington Research

Snap-on (NYSE:SNA)‘s stock had its “outperform” rating reissued by equities research analysts at Barrington Research in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $325.00 target price on the stock. Barrington Research’s price target would suggest a potential upside of 14.76% from the stock’s current price.

SNA has been the subject of several other research reports. Tigress Financial restated a “buy” rating and set a $336.00 target price on shares of Snap-on in a report on Thursday, July 25th. Roth Mkm reaffirmed a “buy” rating and set a $324.00 price target on shares of Snap-on in a research report on Tuesday, July 16th. Finally, Robert W. Baird dropped their price target on shares of Snap-on from $282.00 to $275.00 and set a “neutral” rating on the stock in a research report on Friday, July 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Snap-on presently has an average rating of “Moderate Buy” and an average target price of $315.00.

Snap-on Stock Performance

Shares of SNA opened at $283.19 on Friday. Snap-on has a 12 month low of $249.84 and a 12 month high of $298.49. The firm has a fifty day simple moving average of $277.23 and a 200 day simple moving average of $276.64. The stock has a market capitalization of $14.93 billion, a price-to-earnings ratio of 14.86, a PEG ratio of 1.95 and a beta of 0.98. The company has a current ratio of 4.06, a quick ratio of 3.05 and a debt-to-equity ratio of 0.22.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, July 18th. The company reported $5.07 EPS for the quarter, topping the consensus estimate of $4.94 by $0.13. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The business had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same quarter in the prior year, the company posted $4.89 earnings per share. The firm’s revenue was down 1.0% on a year-over-year basis. Research analysts forecast that Snap-on will post 18.95 EPS for the current fiscal year.

Snap-on announced that its Board of Directors has approved a stock repurchase program on Thursday, August 8th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to reacquire up to 3.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Aldo John Pagliari sold 4,473 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $278.74, for a total value of $1,246,804.02. Following the completion of the sale, the chief financial officer now owns 99,244 shares of the company’s stock, valued at $27,663,272.56. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Nicholas T. Pinchuk sold 24,145 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the transaction, the chief executive officer now directly owns 759,019 shares in the company, valued at $204,138,160.05. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,804 shares of company stock valued at $8,077,390. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Scarborough Advisors LLC bought a new stake in shares of Snap-on in the fourth quarter valued at approximately $30,000. Opal Wealth Advisors LLC acquired a new position in Snap-on in the 2nd quarter valued at $30,000. Innealta Capital LLC acquired a new position in Snap-on in the 2nd quarter valued at $32,000. Quarry LP raised its holdings in Snap-on by 244.7% in the 2nd quarter. Quarry LP now owns 162 shares of the company’s stock valued at $42,000 after acquiring an additional 115 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in Snap-on by 529.0% in the 2nd quarter. Versant Capital Management Inc now owns 195 shares of the company’s stock valued at $51,000 after acquiring an additional 164 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. It operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.