Shares of Snap-On Incorporated (NYSE:SNA) have been assigned a consensus recommendation of “Hold” from the nine research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $197.00.
A number of analysts have recently weighed in on SNA shares. FBR & Co set a $205.00 price target on shares of Snap-On and gave the stock a “buy” rating in a research note on Friday, July 21st. Zacks Investment Research upgraded shares of Snap-On from a “sell” rating to a “hold” rating in a report on Wednesday, July 19th. Jefferies Group LLC reiterated a “hold” rating and issued a $175.00 target price on shares of Snap-On in a report on Thursday, July 6th. Longbow Research downgraded shares of Snap-On from a “buy” rating to a “neutral” rating in a report on Monday, August 21st. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $197.00 target price on shares of Snap-On in a report on Wednesday, August 2nd.
In other Snap-On news, VP Iain Boyd sold 18,418 shares of the business’s stock in a transaction that occurred on Monday, July 24th. The shares were sold at an average price of $147.54, for a total value of $2,717,391.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ruth Ann M. Gillis bought 265 shares of the firm’s stock in a transaction on Friday, August 4th. The stock was acquired at an average cost of $152.58 per share, with a total value of $40,433.70. The disclosure for this purchase can be found here. 3.70% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its position in Snap-On by 2.8% in the second quarter. Vanguard Group Inc. now owns 5,634,205 shares of the company’s stock worth $890,204,000 after acquiring an additional 151,800 shares in the last quarter. BlackRock Inc. grew its position in Snap-On by 0.8% in the second quarter. BlackRock Inc. now owns 3,665,849 shares of the company’s stock worth $579,203,000 after acquiring an additional 27,641 shares in the last quarter. State Street Corp grew its position in Snap-On by 4.3% in the first quarter. State Street Corp now owns 2,505,691 shares of the company’s stock worth $422,636,000 after acquiring an additional 102,268 shares in the last quarter. FMR LLC grew its position in Snap-On by 0.3% in the first quarter. FMR LLC now owns 1,140,188 shares of the company’s stock worth $192,316,000 after acquiring an additional 3,670 shares in the last quarter. Finally, Schroder Investment Management Group grew its position in Snap-On by 59.2% in the second quarter. Schroder Investment Management Group now owns 1,136,354 shares of the company’s stock worth $177,850,000 after acquiring an additional 422,366 shares in the last quarter. 93.14% of the stock is owned by institutional investors.
Snap-On (NYSE:SNA) last issued its quarterly earnings results on Thursday, July 20th. The company reported $2.60 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.05. The company had revenue of $921.40 million during the quarter, compared to analyst estimates of $920.87 million. Snap-On had a net margin of 16.22% and a return on equity of 20.90%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business posted $2.36 EPS.
Snap-On declared that its board has authorized a stock buyback plan on Monday, August 7th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its shares are undervalued.
Snap-on Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions. The Company’s segments include the Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group, and Financial Services. The Commercial & Industrial Group consists of business operations serving a range of industrial and commercial customers, including customers in the aerospace, natural resources, government, power generation, transportation and technical education markets.
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