Snap Inc. (SNAP) Stock Rating Lowered by Cleveland Research

Xavier Trudeau
Августа 14, 2017

The firm owned 5,581 shares of the company's stock after selling 94 shares during the period. CrestPoint Capital Management LLC's holdings in Snap-On were worth $616,000 at the end of the most recent reporting period.

Hedge funds and other institutional investors have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its position in Snap-On by 21.2% in the second quarter. The value of the company's investment in Snap-On Incorporated went from $6,141,000 to $2,995,000 a change of 51.2% quarter to quarter. IHT Wealth Management LLC raised its position in Snap-On by 13.8% in the first quarter. JPMorgan Chase & Co. purchased a new position in shares of Snap during the first quarter worth $252,388,000. NN Investment Partners Holdings N.V. now owns 42,406 shares of the company's stock valued at $754,000 after buying an additional 2,530 shares in the last quarter. Stock traders purchased 65,962 put options on the stock.

Snap (SNAP) opened at 11.83 on Wednesday. Snap-on Incorporated (NYSE:SNA) has risen 2.47% since August 11, 2016 and is uptrending. The company's 50 day moving average is $15.10 and its 200-day moving average is $19.13. The company's market cap is $8.08 billion.

IBC maintained Snap-on Incorporated (NYSE:SNA) rating on Thursday, April 13. The company reported ($2.31) earnings per share for the quarter, missing the Thomson Reuters' consensus estimate of ($2.05) by $0.26. Snap-On had a return on equity of 20.90% and a net margin of 16.22%. The firm had revenue of $181.70 million for the quarter, compared to analysts' expectations of $186.49 million. The firm's revenue was up 153.1% compared to the same quarter previous year. Equities research analysts forecast that Snap will post ($0.56) earnings per share for the current fiscal year.

Here are a few additional firms who have increased or decreased their stake in (SNA). Stockholders of record on Friday, August 18th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 1.86%. Snap-On's payout ratio is now 29.34%.

Cleveland Research cut shares of Snap Inc. Stock buyback plans are often an indication that the company's leadership believes its stock is undervalued.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are accessing this report on another publication, it was stolen and republished in violation of United States & worldwide copyright laws. The original version of this piece can be read at https://www.chaffeybreeze.com/2017/08/13/citigroup-inc-reaffirms-neutral-rating-for-snap-inc-snap.html. (NYSE:SNAP) in a report published on Wednesday morning. Cantor Fitzgerald raised Snap from an underweight rating to a neutral rating and dropped their target price for the company from $18.00 to $17.00 in a research report on Thursday, May 11th. (The) started coverage on shares of Snap in a research report on Monday, March 27th. CL King initiated the shares of SNA in report on Tuesday, June 28 with "Buy" rating. Finally, Jefferies Group LLC reiterated a "hold" rating and issued a $175.00 price target on shares of Snap-On in a research report on Thursday, July 6th. Nine analysts have rated the stock with a sell rating, twenty have given a hold rating and fifteen have given a buy rating to the company's stock. They set an "outperform" rating and a $200.00 target price for the company. $140,620 worth of Snap-on Incorporated (NYSE:SNA) shares were sold by JONES NATHAN J. Johnsen Constance sold $431,577 worth of Snap-on Incorporated (NYSE:SNA) on Wednesday, March 1. Snap presently has an average rating of "Hold" and an average price target of $19.42. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

In other news, Director Ruth Ann M. Gillis purchased 265 shares of the business's stock in a transaction on Friday, August 4th. The brokerage now has an outperform rating on the stock. The disclosure for this sale can be found here.

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