Snap-on (NYSE:SNA) Upgraded to “Buy” at Longbow Research

Snap-on (NYSE:SNA) was upgraded by research analysts at Longbow Research from a “neutral” rating to a “buy” rating in a report released on Monday,Finviz reports. The brokerage currently has a $400.00 target price on the stock. Longbow Research’s price target points to a potential upside of 21.55% from the stock’s current price.

Several other research firms have also recently weighed in on SNA. Barrington Research reiterated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a research report on Monday, February 10th. Tigress Financial lifted their price target on Snap-on from $385.00 to $390.00 and gave the company a “buy” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Snap-on currently has an average rating of “Moderate Buy” and an average target price of $355.33.

Snap-on Stock Down 1.9 %

NYSE SNA opened at $329.09 on Monday. The company has a market capitalization of $17.25 billion, a P/E ratio of 16.88, a PEG ratio of 2.21 and a beta of 0.99. Snap-on has a 12 month low of $252.98 and a 12 month high of $373.90. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.15 and a quick ratio of 3.17. The company’s 50 day simple moving average is $340.12 and its 200 day simple moving average is $333.92.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating analysts’ consensus estimates of $4.78 by $0.04. Snap-on had a net margin of 21.71% and a return on equity of 19.20%. During the same quarter last year, the firm earned $4.75 earnings per share. Equities research analysts expect that Snap-on will post 19.79 earnings per share for the current fiscal year.

Insider Buying and Selling at Snap-on

In related news, CFO Aldo John Pagliari sold 6,860 shares of Snap-on stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $339.05, for a total value of $2,325,883.00. Following the completion of the sale, the chief financial officer now owns 107,096 shares of the company’s stock, valued at approximately $36,310,898.80. The trade was a 6.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total transaction of $7,611,764.00. Following the transaction, the chief executive officer now directly owns 793,932 shares in the company, valued at $266,221,278.24. The trade was a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 36,011 shares of company stock worth $12,116,859 over the last 90 days. 3.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Wellington Management Group LLP increased its stake in shares of Snap-on by 5.5% in the fourth quarter. Wellington Management Group LLP now owns 17,220 shares of the company’s stock worth $5,846,000 after purchasing an additional 901 shares during the period. California State Teachers Retirement System increased its stake in Snap-on by 1.1% during the fourth quarter. California State Teachers Retirement System now owns 90,668 shares of the company’s stock valued at $30,780,000 after acquiring an additional 1,022 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Snap-on by 63.8% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 44,532 shares of the company’s stock valued at $15,118,000 after acquiring an additional 17,338 shares in the last quarter. Siemens Fonds Invest GmbH raised its holdings in Snap-on by 651.6% in the 4th quarter. Siemens Fonds Invest GmbH now owns 6,148 shares of the company’s stock valued at $2,090,000 after acquiring an additional 5,330 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Snap-on in the 4th quarter worth approximately $15,110,000. Institutional investors and hedge funds own 84.88% of the company’s stock.

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.