MKM Partners slashes price target on Snap-on Incorporated [SNA] – find out why.

Snap-on Incorporated [NYSE: SNA] traded at a low on 09/02/22, posting a -0.74 loss after which it closed the day’ session at $213.41. The company report on August 4, 2022 that Snap-on Incorporated Declares Quarterly Dividend.

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The Snap-on Incorporated (NYSE: SNA) board of directors declared today a quarterly common stock dividend of $1.42 per share payable September 9, 2022, to shareholders of record on August 19, 2022. Snap-on has paid consecutive quarterly cash dividends, without interruption or reduction, since 1939.

The results of the trading session contributed to over 281039 shares changing hands. Over the past one week, the price volatility of Snap-on Incorporated stands at 1.93% while the volatility over the past one month is 1.61%.

The market cap for SNA stock reached $11.77 billion, with 53.30 million shares outstanding and 52.36 million shares in the current float. Compared to the average trading volume of 283.40K shares, SNA reached a trading volume of 281039 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Snap-on Incorporated [SNA]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SNA shares is $234.11 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SNA stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

MKM Partners have made an estimate for Snap-on Incorporated shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on June 10, 2022. The new note on the price target was released on September 17, 2021, representing the official price target for Snap-on Incorporated stock. Previously, the target price had yet another raise to $167, while Robert W. Baird analysts kept a Neutral rating on SNA stock.

The Average True Range (ATR) for Snap-on Incorporated is set at 4.00, with the Price to Sales ratio for SNA stock in the period of the last 12 months amounting to 2.49. The Price to Book ratio for the last quarter was 2.63, with the Price to Cash per share for the same quarter was set at 14.75. Price to Free Cash Flow for SNA in the course of the last twelve months was 31.29 with Quick ratio for the last quarter at 2.40.

How has SNA stock performed recently?

Snap-on Incorporated [SNA] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.11. With this latest performance, SNA shares dropped by -4.33% in over the last four-week period, additionally plugging by 2.85% over the last 6 months – not to mention a drop of -6.49% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SNA stock in for the last two-week period is set at 38.20, with the RSI for the last a single of trading hit 29.72, and the three-weeks RSI is set at 43.50 for Snap-on Incorporated [SNA]. The present Moving Average for the last 50 days of trading for this stock 214.65, while it was recorded at 217.19 for the last single week of trading, and 213.09 for the last 200 days.

Snap-on Incorporated [SNA]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Snap-on Incorporated [SNA] shares currently have an operating margin of +24.33 and a Gross Margin at +51.78. Snap-on Incorporated’s Net Margin is presently recorded at +17.83.

Return on Equity for this stock inclined to 20.50, with Return on Assets sitting at 12.32.

Snap-on Incorporated’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.40 and a Current Ratio set at 3.30.

Earnings analysis for Snap-on Incorporated [SNA]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for SNA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Snap-on Incorporated go to 4.50%.

Insider trade positions for Snap-on Incorporated [SNA]

There are presently around $10,032 million, or 90.80% of SNA stock, in the hands of institutional investors. The top three institutional holders of SNA stocks are: VANGUARD GROUP INC with ownership of 6,472,349, which is approximately 1.671% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 4,639,204 shares of the stock with an approximate value of $990.05 million in SNA stocks shares; and STATE STREET CORP, currently with $477.77 million in SNA stock with ownership of nearly -3.382% of the company’s market capitalization.

Positions in Snap-on Incorporated stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 335 institutional holders increased their position in Snap-on Incorporated [NYSE:SNA] by around 3,055,302 shares. Additionally, 322 investors decreased positions by around 3,360,592 shares, while 125 investors held positions by with 40,590,305 shares. The mentioned changes placed institutional holdings at 47,006,199 shares, according to the latest SEC report filing. SNA stock had 70 new institutional investments in for a total of 1,094,657 shares, while 61 institutional investors sold positions of 344,717 shares during the same period.


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