Snap-on (NYSE:SNA) Price Target Lowered to $282.00 at Robert W. Baird

Snap-on (NYSE:SNA) had its target price lowered by Robert W. Baird from $295.00 to $282.00 in a report released on Friday, Benzinga reports. Robert W. Baird currently has a neutral rating on the stock.

Several other equities analysts also recently commented on SNA. Tigress Financial restated a buy rating and issued a $336.00 price target on shares of Snap-on in a research note on Friday, February 16th. Roth Mkm restated a buy rating and issued a $324.00 price target on shares of Snap-on in a research note on Thursday, April 18th. Finally, Barrington Research restated an outperform rating and issued a $325.00 price target on shares of Snap-on in a research note on Monday, April 15th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Snap-on currently has an average rating of Moderate Buy and an average price target of $316.75.

Snap-on Stock Performance

NYSE:SNA opened at $268.56 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.83 and a current ratio of 3.82. Snap-on has a fifty-two week low of $247.68 and a fifty-two week high of $298.49. The stock has a market capitalization of $14.16 billion, a P/E ratio of 14.09, a PEG ratio of 1.92 and a beta of 0.99. The company has a 50 day moving average price of $283.80 and a 200 day moving average price of $278.68.

Snap-on (NYSE:SNA) last posted its quarterly earnings results on Thursday, April 18th. The company reported $4.75 EPS for the quarter, topping the consensus estimate of $4.66 by $0.09. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.20 billion. Snap-on had a net margin of 21.69% and a return on equity of 20.46%. The company’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.60 earnings per share. Equities research analysts forecast that Snap-on will post 19.24 EPS for the current year.

Snap-on Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 11th. Investors of record on Monday, February 26th were paid a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $7.44 dividend on an annualized basis and a dividend yield of 2.77%. Snap-on’s payout ratio is currently 39.03%.

Insider Buying and Selling

In related news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total transaction of $874,243.98. Following the completion of the transaction, the chief financial officer now owns 93,183 shares in the company, valued at $25,213,456.14. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Aldo John Pagliari sold 3,231 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $270.58, for a total value of $874,243.98. Following the completion of the sale, the chief financial officer now directly owns 93,183 shares of the company’s stock, valued at $25,213,456.14. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Richard Thomas Miller sold 704 shares of the business’s stock in a transaction on Thursday, March 28th. The shares were sold at an average price of $298.16, for a total transaction of $209,904.64. Following the completion of the sale, the vice president now directly owns 3,213 shares of the company’s stock, valued at $957,988.08. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,368 shares of company stock worth $13,399,449. Corporate insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Snap-on

Institutional investors and hedge funds have recently bought and sold shares of the stock. Scarborough Advisors LLC purchased a new stake in Snap-on in the fourth quarter valued at $30,000. BKM Wealth Management LLC purchased a new stake in shares of Snap-on in the fourth quarter valued at about $33,000. Exchange Traded Concepts LLC purchased a new stake in shares of Snap-on in the fourth quarter valued at about $43,000. Peoples Bank KS purchased a new stake in shares of Snap-on in the third quarter valued at about $40,000. Finally, Fortitude Family Office LLC purchased a new stake in shares of Snap-on in the fourth quarter valued at about $49,000. 84.88% of the stock is owned by hedge funds and other institutional investors.

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.