Snap-on (NYSE:SNA) Research Coverage Started at UBS Group

Equities research analysts at UBS Group started coverage on shares of Snap-on (NYSE:SNA) in a report released on Tuesday, The Fly reports. The brokerage set a “sell” rating on the stock.

Other analysts also recently issued reports about the stock. TheStreet upgraded shares of Snap-on from a “c” rating to a “b-” rating in a research report on Monday, June 22nd. Jefferies Financial Group reissued a “hold” rating on shares of Snap-on in a research note on Tuesday, August 11th. Oppenheimer lifted their price objective on shares of Snap-on from $150.00 to $165.00 in a research note on Tuesday, September 8th. ValuEngine downgraded shares of Snap-on from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Finally, Barrington Research reissued a “buy” rating and set a $175.00 target price on shares of Snap-on in a research note on Friday, July 31st. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $166.33.

Shares of NYSE SNA traded up $0.13 during mid-day trading on Tuesday, hitting $152.96. The company had a trading volume of 291,100 shares, compared to its average volume of 547,835. Snap-on has a 12 month low of $90.72 and a 12 month high of $172.61. The stock has a market cap of $8.32 billion, a price-to-earnings ratio of 14.74, a PEG ratio of 1.60 and a beta of 1.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.34 and a quick ratio of 2.40. The firm’s 50 day simple moving average is $148.95 and its two-hundred day simple moving average is $133.49.

Snap-on (NYSE:SNA) last issued its earnings results on Friday, July 31st. The company reported $1.91 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.94 by ($0.03). Snap-on had a return on equity of 17.12% and a net margin of 16.71%. The company had revenue of $724.30 million during the quarter, compared to analyst estimates of $704.97 million. During the same period in the prior year, the business earned $3.22 earnings per share. Snap-on’s quarterly revenue was down 23.9% on a year-over-year basis. Equities analysts forecast that Snap-on will post 9.29 earnings per share for the current year.

In other Snap-on news, CEO Nicholas T. Pinchuk sold 27,566 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $150.25, for a total value of $4,141,791.50. 4.20% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in shares of Snap-on by 1.9% in the second quarter. Vanguard Group Inc. now owns 6,477,416 shares of the company’s stock valued at $897,188,000 after buying an additional 119,075 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Snap-on by 1.7% during the second quarter. Bank of America Corp DE now owns 3,101,008 shares of the company’s stock valued at $429,522,000 after purchasing an additional 50,503 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Snap-on by 0.4% in the 1st quarter. JPMorgan Chase & Co. now owns 1,861,792 shares of the company’s stock valued at $202,601,000 after purchasing an additional 7,848 shares during the period. Caisse DE Depot ET Placement DU Quebec increased its stake in Snap-on by 34.3% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,403,539 shares of the company’s stock worth $152,733,000 after purchasing an additional 358,401 shares in the last quarter. Finally, Nordea Investment Management AB raised its holdings in Snap-on by 171.1% during the 2nd quarter. Nordea Investment Management AB now owns 1,067,450 shares of the company’s stock worth $145,142,000 after buying an additional 673,707 shares during the period. Hedge funds and other institutional investors own 94.85% of the company’s stock.

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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