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With a market cap of roughly $19.5 billion, Wisconsin-based Snap-on Incorporated (SNA) is a global leader in tools, equipment, diagnostics, and repair solutions and has been serving professional users in industries such as vehicle repair, aerospace, military, and manufacturing since its founding in 1920. Known as the mark of seriousness and pride for hardworking professionals, Snap-on’s products are sold through a network of franchisee vans, direct channels, and distributors under trusted brands.
Shares of SNA have gained 34.8% over the past year and 27.8% on a YTD basis, slightly outperforming the broader S&P 500 Index’s ($SPX) 31.8% annual return and 25.8% YTD growth.
Zooming in further, the stock appears to have also soared beyond the iShares Global Industrials ETF’s (EXI) 26.9% return over the past 52 weeks and 17.8% gain on a YTD basis.
Despite reporting a mixed Q3 earnings report on Oct. 17, shares of Snap-on popped more than 9% on the very same day, reflecting investor optimism. While its revenue of $1.2 billion narrowly fell short of analyst expectations, its EPS of $4.70, on the other hand, climbed 4.2% year over year and surpassed Wall Street’s projections by roughly 2.6%, demonstrating resilience in a challenging environment.
For the current fiscal year, ending in December, analysts expect SNA’s EPS to marginally increase year over year to $19.05. The company’s earnings surprise history is mixed. It surpassed the consensus estimates in three of the last four quarters while missing on one other occasion.
Among the 11 analysts covering the stock, the consensus view is a “Hold,” which is based on two “Strong Buy,” one “Moderate Buy,” seven “Hold,” and one “Moderate Sell” rating. This configuration has remained steady over the past three months.
While the stock is trading premium to its average analyst price target of $336.17, on Oct. 25, Tigress Financial raised SNA’s price target to $385 from $336, which is also the Street-high target of the stock, and maintained a “Buy” rating. This raised target suggests that SNA can still climb as much as 4.3% from current levels.
