Robert W. Baird Increases Snap-on (NYSE:SNA) Price Target to $347.00

Snap-on (NYSE:SNA) had its target price boosted by stock analysts at Robert W. Baird from $290.00 to $347.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 6.41% from the stock’s previous close.

SNA has been the subject of a number of other reports. Bank of America lifted their price objective on Snap-on from $255.00 to $280.00 and gave the company an “underperform” rating in a research note on Friday. Barrington Research boosted their price target on shares of Snap-on from $325.00 to $350.00 and gave the stock an “outperform” rating in a research note on Thursday. Tigress Financial reissued a “buy” rating and issued a $336.00 price objective on shares of Snap-on in a research note on Thursday, July 25th. Finally, Roth Mkm reaffirmed a “buy” rating and set a $324.00 target price on shares of Snap-on in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $327.40.

Snap-on Trading Down 0.5 %

Shares of SNA stock opened at $326.09 on Friday. Snap-on has a 1-year low of $249.84 and a 1-year high of $330.51. The firm has a market cap of $17.19 billion, a PE ratio of 17.11, a price-to-earnings-growth ratio of 2.06 and a beta of 0.98. The company has a 50-day moving average of $284.18 and a two-hundred day moving average of $276.78. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.06 and a quick ratio of 3.05.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, July 18th. The company reported $5.07 earnings per share for the quarter, topping analysts’ consensus estimates of $4.94 by $0.13. The firm had revenue of $1.18 billion during the quarter, compared to analysts’ expectations of $1.20 billion. Snap-on had a net margin of 21.90% and a return on equity of 19.90%. The firm’s quarterly revenue was down 1.0% on a year-over-year basis. During the same quarter last year, the company posted $4.89 EPS. On average, analysts predict that Snap-on will post 18.95 EPS for the current year.

Snap-on announced that its Board of Directors has authorized a stock buyback plan on Thursday, August 8th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 3.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling

In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the transaction, the chief executive officer now owns 759,019 shares in the company, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Snap-on news, CEO Nicholas T. Pinchuk sold 24,145 shares of Snap-on stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $268.95, for a total transaction of $6,493,797.75. Following the completion of the sale, the chief executive officer now directly owns 759,019 shares of the company’s stock, valued at $204,138,160.05. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Iain Boyd sold 6,044 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $298.99, for a total value of $1,807,095.56. Following the completion of the transaction, the vice president now owns 10,493 shares in the company, valued at approximately $3,137,302.07. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,848 shares of company stock worth $9,884,486 over the last 90 days. 4.10% of the stock is owned by insiders.

Institutional Trading of Snap-on

Several institutional investors have recently modified their holdings of the stock. Renasant Bank lifted its position in Snap-on by 2.3% in the first quarter. Renasant Bank now owns 1,592 shares of the company’s stock valued at $472,000 after acquiring an additional 36 shares during the last quarter. TFB Advisors LLC grew its stake in Snap-on by 3.2% during the 2nd quarter. TFB Advisors LLC now owns 1,226 shares of the company’s stock worth $320,000 after buying an additional 38 shares during the last quarter. Financial Advocates Investment Management increased its position in Snap-on by 1.2% during the second quarter. Financial Advocates Investment Management now owns 3,360 shares of the company’s stock worth $878,000 after buying an additional 39 shares during the period. Ritholtz Wealth Management boosted its holdings in shares of Snap-on by 4.0% in the second quarter. Ritholtz Wealth Management now owns 1,013 shares of the company’s stock valued at $265,000 after acquiring an additional 39 shares during the period. Finally, Mount Yale Investment Advisors LLC grew its position in shares of Snap-on by 2.1% during the second quarter. Mount Yale Investment Advisors LLC now owns 1,920 shares of the company’s stock worth $502,000 after acquiring an additional 39 shares during the last quarter. Hedge funds and other institutional investors own 84.88% of the company’s stock.

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.