Robert W. Baird Has Lowered Expectations for Snap-on (NYSE:SNA) Stock Price

Snap-on (NYSE:SNA) had its target price lowered by Robert W. Baird from $358.00 to $349.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Robert W. Baird’s target price would indicate a potential upside of 5.12% from the company’s current price.

Several other research analysts have also recently weighed in on SNA. Longbow Research raised Snap-on from a “neutral” rating to a “buy” rating and set a $400.00 price objective on the stock in a research report on Monday, March 31st. Tigress Financial boosted their price target on shares of Snap-on from $385.00 to $390.00 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Finally, Barrington Research restated an “outperform” rating and set a $350.00 price objective on shares of Snap-on in a report on Friday, April 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Snap-on presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.67.

Snap-on Stock Performance

Shares of SNA stock opened at $332.00 on Tuesday. 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 firm has a 50-day moving average of $332.99 and a 200-day moving average of $337.45. Snap-on has a one year low of $252.98 and a one year high of $373.90. The company has a market cap of $17.40 billion, a P/E ratio of 17.03, a P/E/G ratio of 2.21 and a beta of 0.84.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 6th. The company reported $4.82 EPS for the quarter, beating the consensus estimate 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 period last year, the business posted $4.75 earnings per share. Equities research analysts forecast that Snap-on will post 19.79 EPS for the current fiscal year.

Insider Buying and Selling at Snap-on

In other Snap-on news, SVP Jesus Arregui sold 6,451 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $337.81, for a total transaction of $2,179,212.31. Following the sale, the senior vice president now owns 257 shares of the company’s stock, valued at $86,817.17. The trade was a 96.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nicholas T. Pinchuk sold 22,700 shares of the firm’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $335.32, for a total value of $7,611,764.00. Following the completion of the transaction, the chief executive officer now directly owns 793,932 shares of the company’s stock, 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 a total of 36,011 shares of company stock valued at $12,116,859 over the last three months. 3.90% of the stock is currently owned by insiders.

Institutional Trading of Snap-on

Hedge funds and other institutional investors have recently made changes to their positions in the stock. UMB Bank n.a. increased its position in shares of Snap-on by 70.5% during the fourth quarter. UMB Bank n.a. now owns 75 shares of the company’s stock valued at $25,000 after buying an additional 31 shares during the period. SBI Securities Co. Ltd. bought a new stake in Snap-on during the 4th quarter worth approximately $26,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Snap-on in the 4th quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in Snap-on in the 1st quarter valued at $35,000. Finally, CoreFirst Bank & Trust purchased a new position in shares of Snap-on during the 4th quarter valued at $40,000. 84.88% of the stock is currently owned by institutional investors.

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.