Oppenheimer Gives a Buy Rating to Snap-on (SNA)

Oppenheimer analyst Christopher Glynn assigned a Buy rating to Snap-on (SNAResearch Report) today and set a price target of $260.00. The company’s shares closed last Wednesday at $245.49.

According to TipRanks.com, Glynn is a 5-star analyst with an average return of 19.5% and a 66.9% success rate. Glynn covers the Industrial Goods sector, focusing on stocks such as Emerson Electric Company, Honeywell International, and Wesco International.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Snap-on with a $239.75 average price target, representing a -1.3% downside. In a report issued on April 23, Barrington also assigned a Buy rating to the stock with a $280.00 price target.

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The company has a one-year high of $243.90 and a one-year low of $115.60. Currently, Snap-on has an average volume of 452.6K.

Based on the recent corporate insider activity of 47 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. Last month, Banerjee Anup R, the Sr VP & Chief Devel. Officer of SNA sold 6,076 shares for a total of $1,447,668.

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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.