Robert W. Baird Reaffirms “Neutral” Rating for Snap-on (NYSE:SNA)

Robert W. Baird reissued their neutral rating on shares of Snap-on (NYSE:SNA) in a research report report published on Monday morning, The Fly reports. The brokerage currently has a $167.00 target price on the stock.

A number of other research firms have also issued reports on SNA. Jefferies Financial Group reissued a hold rating on shares of Snap-on in a report on Tuesday, August 11th. ValuEngine lowered Snap-on from a hold rating to a sell rating in a report on Monday, August 3rd. Barrington Research reaffirmed a buy rating and set a $175.00 price target on shares of Snap-on in a report on Friday, July 31st. Oppenheimer boosted their price objective on shares of Snap-on from $150.00 to $165.00 in a research note on Tuesday, September 8th. Finally, UBS Group assumed coverage on shares of Snap-on in a research note on Tuesday, September 15th. They issued a sell rating and a $143.00 target price for the company. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $155.60.

Shares of NYSE SNA opened at $155.27 on Monday. The stock has a market cap of $8.46 billion, a P/E ratio of 14.96, a P/E/G ratio of 1.72 and a beta of 1.34. Snap-on has a twelve month low of $90.72 and a twelve month high of $172.61. The stock has a 50 day moving average of $150.67 and a two-hundred day moving average of $138.33. The company has a current ratio of 3.34, a quick ratio of 2.40 and a debt-to-equity ratio of 0.41.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Friday, July 31st. The company reported $1.91 EPS for the quarter, missing the consensus estimate of $1.94 by ($0.03). Snap-on had a net margin of 16.71% and a return on equity of 17.12%. The business had revenue of $724.30 million during the quarter, compared to analysts’ expectations of $704.97 million. During the same quarter last year, the company earned $3.22 EPS. The firm’s revenue for the quarter was down 23.9% compared to the same quarter last year. As a group, research analysts predict that Snap-on will post 9.29 earnings per share for the current year.

In other news, CEO Nicholas T. Pinchuk sold 27,566 shares of Snap-on stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $150.25, for a total transaction of $4,141,791.50. Also, VP Iain Boyd sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 6th. The stock was sold at an average price of $160.00, for a total value of $160,000.00. The disclosure for this sale can be found here. 4.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the stock. IFP Advisors Inc boosted its position in Snap-on by 85.6% during the second quarter. IFP Advisors Inc now owns 232 shares of the company’s stock worth $31,000 after purchasing an additional 107 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Snap-on in the 3rd quarter worth about $44,000. Creative Financial Designs Inc. ADV acquired a new stake in Snap-on in the 2nd quarter valued at about $47,000. Nachman Norwood & Parrott Inc purchased a new position in Snap-on during the 3rd quarter valued at about $50,000. Finally, North Star Investment Management Corp. acquired a new position in Snap-on during the third quarter worth about $58,000. 94.85% of the stock is 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 & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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