Snap-on (NYSE:SNA) Given New $347.00 Price Target at Robert W. Baird

Snap-on (NYSE:SNA) had its target price increased by equities research analysts at Robert W. Baird from $290.00 to $347.00 in a report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price indicates a potential upside of 6.77% from the company’s previous close.

SNA has been the subject of several other research reports. Barrington Research upped their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research report on Thursday. Bank of America increased their target price on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a report on Friday. Roth Mkm restated a “buy” rating and issued a $324.00 target price on shares of Snap-on in a research report on Tuesday, July 16th. Finally, Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $327.40.

Snap-on Price Performance

NYSE SNA traded down $2.80 during trading hours on Friday, reaching $324.99. The company’s stock had a trading volume of 225,253 shares, compared to its average volume of 296,068. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05. Snap-on has a 1-year low of $249.84 and a 1-year high of $330.51. The company’s 50-day moving average is $283.12 and its two-hundred day moving average is $276.56. The firm has a market capitalization of $17.12 billion, a price-to-earnings ratio of 16.94, a P/E/G ratio of 2.06 and a beta of 0.98.

Snap-on (NYSE:SNA) last issued its quarterly 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. The company had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The firm’s revenue was down 1.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.89 EPS. On average, equities analysts predict that Snap-on will post 18.95 EPS for the current year.

Snap-on announced that its Board of Directors has initiated a stock repurchase plan on Thursday, August 8th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 3.5% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity at Snap-on

In other Snap-on news, VP Iain Boyd sold 6,044 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total transaction of $1,807,095.56. Following the sale, the vice president now owns 10,493 shares in the company, valued at $3,137,302.07. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, VP June C. Lemerand sold 1,186 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $283.97, for a total value of $336,788.42. Following the transaction, the vice president now owns 2,283 shares of the company’s stock, valued at $648,303.51. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Iain Boyd sold 6,044 shares of Snap-on stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $298.99, for a total value of $1,807,095.56. Following the sale, the vice president now directly owns 10,493 shares of the company’s stock, valued at $3,137,302.07. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,848 shares of company stock worth $9,884,486. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Snap-on

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Opal Wealth Advisors LLC purchased a new stake in Snap-on in the second quarter valued at $30,000. Innealta Capital LLC acquired a new stake in shares of Snap-on during the second quarter worth about $32,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Snap-on by 53.0% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 127 shares of the company’s stock valued at $37,000 after purchasing an additional 44 shares during the last quarter. Quarry LP boosted its position in shares of 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 purchasing an additional 115 shares during the period. Finally, Fidelis Capital Partners LLC purchased a new position in Snap-on during the 1st quarter worth approximately $56,000. 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.