Barrington analyst Gary Prestopino maintained a Buy rating on Snap-on (SNA) today and set a price target of $185. The company’s shares opened today at $168.
Prestopino noted:
“We believe that Snap-on continues to have a favorable outlook due to the aging of the car parc as well as technological complexity of newer vehicles on the road coupled with its solid brand franchise in the market. We are encouraged that organic growth is slowly increasing especially in the Tools Group.”
According to TipRanks.com, Prestopino is a 3-star analyst with an average return of 2.2% and a 47.8% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, Payment Data Systems Inc, and US Auto Parts Network.
Currently, the analyst consensus on Snap-on is a Moderate Buy with an average price target of $170, implying a 1.2% upside from current levels. In a report issued on April 5, Tigress Financial also reiterated a Buy rating on the stock.
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The company has a one-year high of $189.46 and a one-year low of $135.29. Currently, Snap-on has an average volume of 655.6K.
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is negative on the stock. Most recently, in February 2019, Iain Boyd, the VP – Operations Development of SNA sold 26,500 shares for a total of $4,207,859.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Snap-On, Inc. engages in the manufacture and marketing of tools, equipment, diagnostics, repair information, and systems solutions for professional users performing critical tasks. Its Products and services include hand and power tools, tool storage, diagnostics software, handheld and PC-based diagnostic products, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, such as aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. It operates through following segments: Commercial and Industrial Group; Snap-On Tools Group; Repair Systems and Information Group; and Financial Services. The Commercial and Industrial Group segment consists of business operations that serve the aerospace, natural resources, government, power generation, transportation and technical education markets. The Snap-On Tools Group segment includes business operations primarily serving vehicle service and repair technicians through worldwide mobile tool distribution channel. The Repair System and Information Group segment serves other professionals vehicle repair customers, primarily owners and managers of independent repair shops and original equipment manufacturer dealerships through direct and distributor channels. The Financial Services segment comprises of installment sales and lease contracts arising from franchisees’ customers, and business loans and vehicle leases to franchisees. The company was founded by Joseph Johnson and William Seidemann in 1920 and is headquartered in Kenosha, WI.
