Snap-on (SNA) Shares Down 5.9%

Shares of Snap-on Incorporated (NYSE:SNA) fell 5.9% during mid-day trading on Thursday . The stock traded as low as $156.51 and last traded at $156.72. 1,697,008 shares traded hands during trading, an increase of 145% from the average session volume of 691,504 shares. The stock had previously closed at $166.63.

Several equities analysts have weighed in on SNA shares. Zacks Investment Research cut Snap-on from a “buy” rating to a “hold” rating in a report on Friday, January 12th. Robert W. Baird restated a “buy” rating and set a $220.00 price target (up previously from $184.00) on shares of Snap-on in a report on Monday, January 29th. They noted that the move was a valuation call. B. Riley restated a “buy” rating and set a $205.00 price target on shares of Snap-on in a report on Thursday, January 4th. Barrington Research upgraded Snap-on from a “market perform” rating to an “outperform” rating and set a $185.00 price target for the company in a report on Monday, October 23rd. Finally, Jefferies Group restated a “hold” rating and set a $175.00 price target on shares of Snap-on in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $195.50.

The stock has a market cap of $8,934.17, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.19 and a beta of 1.09. The company has a current ratio of 1.78, a quick ratio of 1.22 and a debt-to-equity ratio of 0.25.

Snap-on (NYSE:SNA) last released its quarterly earnings results on Thursday, February 8th. The company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.66 by $0.03. The business had revenue of $974.60 million during the quarter, compared to analysts’ expectations of $940.50 million. Snap-on had a return on equity of 20.54% and a net margin of 15.13%. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.47 EPS. research analysts anticipate that Snap-on Incorporated will post 10.93 earnings per share for the current year.

In other news, CEO Nicholas T. Pinchuk sold 20,680 shares of Snap-on stock in a transaction that occurred on Thursday, December 28th. The stock was sold at an average price of $174.55, for a total value of $3,609,694.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.70% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. First Republic Investment Management Inc. boosted its holdings in shares of Snap-on by 16.0% in the 4th quarter. First Republic Investment Management Inc. now owns 14,929 shares of the company’s stock worth $2,602,000 after purchasing an additional 2,055 shares during the period. Suntrust Banks Inc. boosted its holdings in shares of Snap-on by 25.7% in the 4th quarter. Suntrust Banks Inc. now owns 59,869 shares of the company’s stock worth $10,433,000 after purchasing an additional 12,255 shares during the period. FDx Advisors Inc. boosted its holdings in shares of Snap-on by 4.3% in the 4th quarter. FDx Advisors Inc. now owns 11,089 shares of the company’s stock worth $1,933,000 after purchasing an additional 458 shares during the period. Synovus Financial Corp boosted its holdings in shares of Snap-on by 15.9% in the 4th quarter. Synovus Financial Corp now owns 3,953 shares of the company’s stock worth $687,000 after purchasing an additional 541 shares during the period. Finally, American International Group Inc. boosted its holdings in shares of Snap-on by 12.4% in the 4th quarter. American International Group Inc. now owns 21,672 shares of the company’s stock worth $3,777,000 after purchasing an additional 2,383 shares during the period. Hedge funds and other institutional investors own 99.98% of the company’s stock.

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Snap-on Company Profile

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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