Northcoast Research Analysts Reduce Earnings Estimates for Snap-on Incorporated (SNA)

Snap-on Incorporated (NYSE:SNA) – Equities research analysts at Northcoast Research cut their Q3 2019 earnings per share (EPS) estimates for Snap-on in a note issued to investors on Tuesday, February 12th. Northcoast Research analyst T. Hayes now anticipates that the company will earn $2.91 per share for the quarter, down from their previous estimate of $3.05.

Snap-on (NYSE:SNA) last posted its quarterly earnings data on Thursday, February 7th. The company reported $3.03 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.03. Snap-on had a net margin of 18.18% and a return on equity of 21.62%. The company had revenue of $952.50 million for the quarter, compared to the consensus estimate of $968.74 million. During the same quarter in the previous year, the firm posted $2.69 EPS. The business’s revenue was down 2.3% compared to the same quarter last year.

Several other analysts have also weighed in on the stock. Zacks Investment Research upgraded shares of Snap-on from a “sell” rating to a “hold” rating in a research report on Tuesday. TheStreet raised shares of Snap-on from a “c+” rating to a “b-” rating in a research note on Friday, January 11th. Bank of America started coverage on shares of Snap-on in a research note on Friday, December 21st. They set a “buy” rating and a $165.00 price target for the company. Finally, Robert W. Baird dropped their price target on shares of Snap-on from $216.00 to $190.00 and set an “outperform” rating for the company in a research note on Friday, October 19th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Snap-on presently has an average rating of “Buy” and an average target price of $190.33.

Shares of Snap-on stock opened at $155.28 on Thursday. The company has a current ratio of 2.33, a quick ratio of 1.62 and a debt-to-equity ratio of 0.30. Snap-on has a twelve month low of $135.29 and a twelve month high of $189.46. The stock has a market cap of $8.52 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 1.21 and a beta of 1.34.

Large investors have recently modified their holdings of the business. Man Group plc bought a new stake in shares of Snap-on during the third quarter worth $6,028,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Snap-on by 3.2% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 176,604 shares of the company’s stock valued at $32,424,000 after acquiring an additional 5,533 shares during the last quarter. Vident Investment Advisory LLC acquired a new stake in Snap-on in the third quarter valued at $422,000. Deprince Race & Zollo Inc. lifted its stake 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 acquiring an additional 6,034 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in Snap-on in the third quarter valued at $5,160,000.

In related news, Chairman Nicholas T. Pinchuk sold 22,433 shares of the business’s stock in a transaction that occurred on Thursday, December 27th. The shares were sold at an average price of $140.80, for a total transaction of $3,158,566.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.00% of the company’s stock.

About Snap-on

Snap-on Incorporated manufactures and markets tools, equipment, diagnostics, and repair information and systems solutions for professional users worldwide. The company operates through Commercial & Industrial Group, Snap-on Tools Group, Repair Systems & Information Group, and Financial Services segments.

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Earnings History and Estimates for Snap-on (NYSE:SNA)

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