Snap-on (NYSE:SNA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Wednesday. The brokerage currently has a $178.00 price target on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.35% from the stock’s current price.

According to Zacks, “Snap-On’s fourth-quarter 2017 earnings trumped the Zacks Consensus Estimate and rose 8.9% from the year-ago figure. The company is committed to its RCI program, which has been instrumental in fuelling sales, margins and savings in the recent quarters. Going forward, the company plans to boost growth by focusing on franchise network, expanding footprint in vehicle repair garage & vital industries, and penetrating emerging markets. Diversified portfolio and impressive traction of new products add to its strength. Also, the company has been witnessing encouraging prospects in most of its business lines that will likely unlock new growth avenues going forward. Despite these positives, year to date, Snap-on’s shares have underperformed the industry average. Sluggish oil market activities, volatility in the prices and high currency fluctuation risks pose as major concerns.”

Other equities research analysts also recently issued research reports about the company. FBR & Co reaffirmed a “buy” rating and set a $205.00 price objective on shares of Snap-on in a research report on Thursday, October 19th. B. Riley reaffirmed a “buy” rating and set a $205.00 price objective on shares of Snap-on in a research report on Thursday, January 4th. Robert W. Baird reaffirmed a “buy” rating and set a $220.00 price objective (up previously from $184.00) on shares of Snap-on in a research report on Monday, January 29th. They noted that the move was a valuation call. Jefferies Group reaffirmed a “hold” rating and set a $175.00 price objective on shares of Snap-on in a research report on Friday, November 3rd. Finally, Oppenheimer reaffirmed a “buy” rating and set a $177.00 price objective on shares of Snap-on in a research report on Thursday, October 19th. One analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $192.00.

Shares of Snap-on (NYSE:SNA) traded up $0.79 during trading on Wednesday, hitting $158.43. The stock had a trading volume of 69,594 shares, compared to its average volume of 717,336. The stock has a market capitalization of $9,078.40, a price-to-earnings ratio of 16.60, a P/E/G ratio of 1.48 and a beta of 1.09. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.24 and a current ratio of 1.78. Snap-on has a 1 year low of $140.83 and a 1 year high of $185.47.

Snap-on (NYSE:SNA) last announced its quarterly earnings results on Thursday, February 8th. The company reported $2.69 EPS for the quarter, beating the consensus estimate of $2.66 by $0.03. The firm had revenue of $974.60 million for the quarter, compared to analyst estimates of $940.50 million. Snap-on had a return on equity of 20.54% and a net margin of 15.13%. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.47 earnings per share. research analysts forecast that Snap-on will post 11.35 earnings per share for the current year.

In other Snap-on news, CEO Nicholas T. Pinchuk sold 20,680 shares of the firm’s stock in a transaction dated Thursday, December 28th. The stock was sold at an average price of $174.55, for a total value of $3,609,694.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Anup R. Banerjee sold 2,091 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $160.11, for a total value of $334,790.01. The disclosure for this sale can be found here. In the last three months, insiders sold 43,838 shares of company stock valued at $7,616,330. Corporate insiders own 3.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ariel Investments LLC boosted its holdings in Snap-on by 1.7% in the fourth quarter. Ariel Investments LLC now owns 776,792 shares of the company’s stock worth $135,395,000 after acquiring an additional 12,758 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Snap-on by 5.4% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 130,947 shares of the company’s stock worth $22,824,000 after acquiring an additional 6,732 shares in the last quarter. M&R Capital Management Inc. boosted its holdings in Snap-on by 28.3% in the fourth quarter. M&R Capital Management Inc. now owns 3,285 shares of the company’s stock worth $572,000 after acquiring an additional 725 shares in the last quarter. MD Sass Investors Services Inc. boosted its holdings in Snap-on by 37.9% in the fourth quarter. MD Sass Investors Services Inc. now owns 160,040 shares of the company’s stock worth $27,896,000 after acquiring an additional 43,990 shares in the last quarter. Finally, Tocqueville Asset Management L.P. boosted its holdings in Snap-on by 2.4% in the fourth quarter. Tocqueville Asset Management L.P. now owns 94,182 shares of the company’s stock worth $16,416,000 after acquiring an additional 2,175 shares in the last quarter. 99.00% of the stock is owned by institutional investors and hedge funds.

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Snap-on Company Profile

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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