Snap-On Incorporated (NYSE:SNA) - Analysts at Northcoast Research boosted their Q2 2017 EPS estimates for shares of Snap-On in a research note issued to investors on Monday. Northcoast Research analyst T. Hayes now expects that the company will post earnings of $2.57 per share for the quarter, up from their prior forecast of $2.53. Northcoast Research also issued estimates for Snap-On’s FY2017 earnings at $10.06 EPS, Q2 2018 earnings at $2.81 EPS and FY2018 earnings at $11.05 EPS.
Snap-On (NYSE:SNA) last released its earnings results on Thursday, July 20th. The company reported $2.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.55 by $0.05. Snap-On had a return on equity of 20.94% and a net margin of 16.07%. The firm had revenue of $921.40 million during the quarter, compared to analysts’ expectations of $920.87 million. During the same period in the previous year, the firm posted $2.36 EPS. Snap-On’s revenue for the quarter was up 5.6% on a year-over-year basis.
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Several other research analysts have also weighed in on SNA. Oppenheimer Holdings, Inc. started coverage on Snap-On in a research report on Tuesday, April 11th. They issued an “outperform” rating and a $200.00 target price on the stock. CIBC reissued an “outperform” rating and issued a $200.00 price objective on shares of Snap-On in a research report on Wednesday, April 12th. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 price objective (up from $165.00) on shares of Snap-On in a research report on Sunday, April 23rd. BidaskClub raised Snap-On from a “strong sell” rating to a “sell” rating in a research report on Wednesday, July 5th. Finally, FBR & Co reissued an “outperform” rating and issued a $205.00 price objective on shares of Snap-On in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Snap-On presently has an average rating of “Hold” and an average target price of $198.00.
Snap-On (NYSE:SNA) opened at 150.34 on Wednesday. The company’s 50-day moving average price is $156.90 and its 200 day moving average price is $166.66. Snap-On has a 1-year low of $145.17 and a 1-year high of $181.73. The firm has a market capitalization of $8.71 billion, a PE ratio of 15.94 and a beta of 1.06.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SNA. GSA Capital Partners LLP bought a new position in Snap-On during the fourth quarter valued at approximately $370,000. Thrivent Financial for Lutherans raised its position in Snap-On by 4.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 2,000 shares of the company’s stock valued at $343,000 after buying an additional 90 shares during the period. HighPoint Advisor Group LLC bought a new position in Snap-On during the fourth quarter valued at approximately $580,000. Whalerock Point Partners LLC increased its stake in shares of Snap-On by 15.5% in the fourth quarter. Whalerock Point Partners LLC now owns 4,100 shares of the company’s stock valued at $702,000 after buying an additional 550 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of Snap-On by 4.2% in the fourth quarter. Teachers Advisors LLC now owns 140,795 shares of the company’s stock valued at $24,114,000 after buying an additional 5,735 shares in the last quarter. 91.13% of the stock is currently owned by institutional investors.
In other Snap-On news, VP Jeanne M. Moreno sold 12,459 shares of the firm’s stock in a transaction dated Monday, April 24th. The stock was sold at an average price of $176.54, for a total value of $2,199,511.86. Following the transaction, the vice president now directly owns 10,486 shares of the company’s stock, valued at $1,851,198.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Thomas J. Ward sold 42,000 shares of the firm’s stock in a transaction dated Monday, April 24th. The shares were sold at an average price of $174.88, for a total value of $7,344,960.00. The disclosure for this sale can be found here. Company insiders own 3.70% of the company’s stock.
About Snap-On
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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