Snap-on (NYSE:SNA) Given New $390.00 Price Target at Tigress Financial

Snap-on (NYSE:SNA) had its price target boosted by research analysts at Tigress Financial from $385.00 to $390.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Tigress Financial’s price objective would indicate a potential upside of 16.96% from the company’s previous close.

Separately, Barrington Research reaffirmed an “outperform” rating and issued a $350.00 price target on shares of Snap-on in a research note on Monday, February 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $346.40.

Snap-on Stock Down 2.3 %

Shares of NYSE SNA opened at $333.45 on Tuesday. The firm has a market cap of $17.47 billion, a price-to-earnings ratio of 17.10, a price-to-earnings-growth ratio of 2.21 and a beta of 0.99. The company’s 50-day simple moving average is $343.25 and its 200-day simple moving average is $326.29. The company has a quick ratio of 3.17, a current ratio of 4.15 and a debt-to-equity ratio of 0.22. Snap-on has a 52-week low of $252.98 and a 52-week high of $373.89.

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

Insiders Place Their Bets

In related news, SVP Jesus Arregui sold 6,451 shares of the firm’s stock in a transaction dated 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 completion of the sale, the senior vice president now directly owns 257 shares in the company, valued at approximately $86,817.17. This trade represents a 96.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP June C. Lemerand sold 3,500 shares of Snap-on stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $362.86, for a total transaction of $1,270,010.00. Following the transaction, the vice president now directly owns 2,289 shares in the company, valued at $830,586.54. This trade represents a 60.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 45,503 shares of company stock valued at $15,906,074 in the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Snap-on

Hedge funds and other institutional investors have recently made changes to their positions in the company. Pinnacle Associates Ltd. acquired a new stake in Snap-on during the third quarter worth $214,000. Janney Montgomery Scott LLC grew its holdings in shares of Snap-on by 2.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 23,102 shares of the company’s stock worth $6,693,000 after purchasing an additional 455 shares during the period. Van ECK Associates Corp increased its position in shares of Snap-on by 11.0% during the 3rd quarter. Van ECK Associates Corp now owns 9,617 shares of the company’s stock worth $2,786,000 after purchasing an additional 953 shares during the last quarter. National Pension Service increased its position in shares of Snap-on by 4.3% during the 3rd quarter. National Pension Service now owns 113,516 shares of the company’s stock worth $32,887,000 after purchasing an additional 4,710 shares during the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Snap-on by 0.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 19,896 shares of the company’s stock valued at $5,764,000 after buying an additional 67 shares during the period. 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.