In a report released today, Christopher Glynn from Oppenheimer assigned a Buy rating to Snap-on (SNA), with a price target of $140.00. The company’s shares closed last Wednesday at $119.70.
According to TipRanks.com, Glynn is a 4-star analyst with an average return of 4.3% and a 53.8% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Generac Holdings.
Snap-on has an analyst consensus of Moderate Buy, with a price target consensus of $153.17, which is a 25.9% upside from current levels. In a report issued on April 22, Barrington also maintained a Buy rating on the stock with a $162.50 price target.
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Based on Snap-on’s latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $938 million and net profit of $137 million. In comparison, last year the company earned revenue of $1.01 billion and had a net profit of $178 million.
Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SNA in relation to earlier this year.
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.