Snap-on Incorporated (NYSE:SNA) Given Average Recommendation of “Hold” by Brokerages

Snap-on Incorporated (NYSE:SNA) has received a consensus recommendation of “Hold” from the ten ratings firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $173.60.

Several brokerages have issued reports on SNA. Tigress Financial reiterated a “buy” rating on shares of Snap-on in a research report on Friday, October 25th. Barrington Research reiterated a “buy” rating and set a $185.00 target price on shares of Snap-on in a research report on Thursday, October 17th. Robert W. Baird reiterated a “hold” rating and set a $169.00 target price on shares of Snap-on in a research report on Friday, October 18th. Finally, ValuEngine upgraded shares of Snap-on from a “sell” rating to a “hold” rating in a report on Tuesday.

Shares of SNA stock traded up $2.60 during trading hours on Wednesday, reaching $159.17. The stock had a trading volume of 546,755 shares, compared to its average volume of 510,629. The stock’s fifty day simple moving average is $162.79 and its 200 day simple moving average is $157.77. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.30. Snap-on has a 12 month low of $135.29 and a 12 month high of $174.00. The firm has a market capitalization of $8.80 billion, a PE ratio of 13.48, a PEG ratio of 1.54 and a beta of 1.22.

Snap-on (NYSE:SNA) last announced its earnings results on Thursday, October 17th. The company reported $2.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.94 by $0.02. Snap-on had a net margin of 18.72% and a return on equity of 21.16%. The business had revenue of $901.80 million during the quarter, compared to analyst estimates of $909.23 million. During the same period in the previous year, the business posted $2.88 earnings per share. Snap-on’s revenue for the quarter was up .4% on a year-over-year basis. As a group, equities research analysts anticipate that Snap-on will post 12.26 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.08 per share. This is an increase from Snap-on’s previous quarterly dividend of $0.95. This represents a $4.32 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Tuesday, November 19th. Snap-on’s payout ratio is presently 36.58%.

In other news, VP Iain Boyd sold 777 shares of the company’s stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $165.00, for a total value of $128,205.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 19,675 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $155.46, for a total transaction of $3,058,675.50. The disclosure for this sale can be found here. 3.90% of the stock is currently owned by insiders.

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Snap-on by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 6,104,323 shares of the company’s stock worth $1,011,120,000 after purchasing an additional 96,196 shares in the last quarter. Bank of America Corp DE boosted its stake in Snap-on by 12.7% in the 2nd quarter. Bank of America Corp DE now owns 3,487,031 shares of the company’s stock worth $577,591,000 after purchasing an additional 392,665 shares in the last quarter. Northern Trust Corp boosted its stake in Snap-on by 1.5% in the 2nd quarter. Northern Trust Corp now owns 1,130,372 shares of the company’s stock worth $187,234,000 after purchasing an additional 16,808 shares in the last quarter. Investec Asset Management LTD boosted its stake in Snap-on by 16.5% in the 2nd quarter. Investec Asset Management LTD now owns 703,954 shares of the company’s stock worth $116,603,000 after purchasing an additional 99,944 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Snap-on by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 613,698 shares of the company’s stock worth $101,652,000 after purchasing an additional 2,054 shares in the last quarter. 98.63% of the stock is currently owned by hedge funds and other institutional investors.

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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