Snap-on Incorporated (NYSE:SNA) – Equities research analysts at Northcoast Research upped their Q3 2019 earnings per share (EPS) estimates for shares of Snap-on in a report released on Monday, April 22nd. Northcoast Research analyst T. Hayes now expects that the company will post earnings of $2.94 per share for the quarter, up from their prior forecast of $2.91. Northcoast Research also issued estimates for Snap-on’s Q4 2019 earnings at $3.16 EPS, Q3 2020 earnings at $3.19 EPS and Q4 2020 earnings at $3.38 EPS.
Other equities analysts also recently issued research reports about the company. Bank of America downgraded Snap-on from a “buy” rating to a “neutral” rating and set a $168.00 target price on the stock. in a research report on Tuesday, April 16th. Zacks Investment Research upgraded Snap-on from a “sell” rating to a “hold” rating in a research report on Thursday, April 11th. Barrington Research set a $185.00 target price on Snap-on and gave the company a “buy” rating in a research report on Monday. Robert W. Baird downgraded Snap-on from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $186.00 to $160.00 in a research report on Wednesday, April 10th. Finally, TheStreet upgraded Snap-on from a “c+” rating to a “b-” rating in a research report on Friday, January 11th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Snap-on currently has an average rating of “Hold” and an average price target of $184.00.
NYSE SNA opened at $168.41 on Tuesday. The company has a market capitalization of $9.34 billion, a PE ratio of 14.26, a PEG ratio of 1.64 and a beta of 1.26. Snap-on has a 1-year low of $135.29 and a 1-year high of $189.46. The company has a current ratio of 2.42, a quick ratio of 1.62 and a debt-to-equity ratio of 0.29.
Snap-on (NYSE:SNA) last released its earnings results on Thursday, April 18th. The company reported $3.01 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.10. The business had revenue of $921.70 million for the quarter, compared to the consensus estimate of $933.13 million. Snap-on had a return on equity of 21.66% and a net margin of 18.64%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the business posted $2.79 earnings per share.
A number of large investors have recently bought and sold shares of SNA. Norges Bank purchased a new stake in Snap-on in the fourth quarter valued at $62,430,000. Man Group plc purchased a new stake in Snap-on in the third quarter valued at $6,028,000. Deprince Race & Zollo Inc. raised its position in Snap-on by 4.2% in the fourth quarter. Deprince Race & Zollo Inc. now owns 149,730 shares of the company’s stock valued at $21,754,000 after purchasing an additional 6,034 shares during the period. Vident Investment Advisory LLC purchased a new stake in Snap-on in the third quarter valued at $422,000. Finally, Atlas Capital Advisors LLC raised its position in Snap-on by 1,158.3% in the fourth quarter. Atlas Capital Advisors LLC now owns 453 shares of the company’s stock valued at $66,000 after purchasing an additional 417 shares during the period.
In related news, Chairman Nicholas T. Pinchuk sold 11,783 shares of Snap-on stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $156.68, for a total transaction of $1,846,160.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Thomas J. Ward sold 21,000 shares of Snap-on stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $169.75, for a total value of $3,564,750.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,327 shares of company stock worth $12,687,933. 3.90% of the stock is currently owned by company insiders.
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 and Industrial Group, Snap-on Tools Group, and Repair Systems & Information Group segments. The company offers hand tools, including wrenches, sockets, ratchet wrenches, pliers, screwdrivers, punches and chisels, saws and cutting tools, pruning tools, torque measuring instruments, and other products; power tools, such as cordless, pneumatic, hydraulic, and corded tools; and tool storage products comprising tool chests, roll cabinets, and other products.