Snap-on (SNA) Receives a Buy from Barrington

By Jason Carr

Barrington analyst Gary Prestopino maintained a Buy rating on Snap-on (SNAResearch Report) today and set a price target of $175.00. The company’s shares closed last Friday at $144.34.

According to TipRanks.com, Prestopino is a 4-star analyst with an average return of 9.8% and a 46.0% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services, Points International, and Liquidity Services.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Snap-on with a $157.50 average price target, an 8.2% upside from current levels. In a report released today, Oppenheimer also assigned a Buy rating to the stock with a $140.00 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.

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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.