Aggressive’ Bullish Options Activity Seen in Snap-on Incorporated


 Aggressive' Bullish Options Activity Seen in Snap on Incorporated

In today’s session Snap-on Incorporated (SNA) registered an unusually high (1,594) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious SNA increase. With 1,594 contracts traded and 1454 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: SNA161118C00155000 closed last at: $3.4 or 28.3% up. About 45,861 shares traded hands. Snap-on Incorporated (NYSE:SNA) has declined 2.33% since March 7, 2016 and is downtrending. It has underperformed by 9.92% the S&P500.

Analysts await Snap-on Incorporated (NYSE:SNA) to report earnings on October, 27. They expect $2.15 earnings per share, up 8.59% or $0.17 from last year’s $1.98 per share. SNA’s profit will be $122.77M for 17.39 P/E if the $2.15 EPS becomes a reality. After $2.36 actual earnings per share reported by Snap-on Incorporated for the previous quarter, Wall Street now forecasts -8.90% negative EPS growth.

Snap-on Incorporated (NYSE:SNA) Ratings Coverage

Out of 4 analysts covering Snap-on (NYSE:SNA), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. $193 is the highest target while $165 is the lowest. The $172 average target is 15.00% above today’s ($149.56) stock price. Snap-on has been the topic of 7 analyst reports since August 20, 2015 according to StockzIntelligence Inc. On Tuesday, June 28 the stock rating was initiated by CL King with “Buy”. Longbow upgraded Snap-on Incorporated (NYSE:SNA) on Monday, October 5 to “Buy” rating. Zacks downgraded the stock to “Buy” rating in Thursday, August 20 report. As per Tuesday, October 20, the company rating was initiated by Jefferies.

According to Zacks Investment Research, “Snap-On Incorporated is engaged in the business of providing productivity-enhancing, innovative products, services and solutions. Snap-on is a global developer, manufacturer and marketer of professional tools, diagnostics equipment and related services marketed in numerous countries. Snap-on offers a wide range of capabilities and solutions for professional tool users in vehicle service, industrial and other commercial applications worldwide.”

Insitutional Activity: The institutional sentiment increased to 1.04 in Q2 2016. Its up 0.04, from 1 in 2016Q1. The ratio improved, as 37 funds sold all Snap-on Incorporated shares owned while 175 reduced positions. 47 funds bought stakes while 174 increased positions. They now own 48.14 million shares or 3.06% less from 49.66 million shares in 2016Q1.
Rowland Invest Counsel Adv accumulated 0% or 780 shares. Kbc Grp Inc Nv holds 8,186 shares or 0.02% of its portfolio. Eagle Asset Mngmt Inc, a Florida-based fund reported 12,103 shares. Retirement Sys Of Alabama, a Alabama-based fund reported 29,643 shares. The Colorado-based Janus Cap Management Lc has invested 0.11% in Snap-on Incorporated (NYSE:SNA). Origin Asset Mngmt Ltd Liability Partnership has 225,287 shares for 2.37% of their US portfolio. Cap Mngmt Assocs Ny reported 5,000 shares or 1.34% of all its holdings. Edge Asset Mngmt last reported 0.21% of its portfolio in the stock. The Colorado-based Asset Management has invested 0.06% in Snap-on Incorporated (NYSE:SNA). Artemis Limited Liability Partnership holds 0% or 1,556 shares in its portfolio. Eulav Asset holds 0.7% or 81,300 shares in its portfolio. Cardinal Cap accumulated 4,243 shares or 0.27% of the stock. Affinity Limited Liability holds 0.02% of its portfolio in Snap-on Incorporated (NYSE:SNA) for 1,930 shares. Bb&T Lc last reported 6,023 shares in the company. The Massachusetts-based Panagora Asset has invested 0.13% in Snap-on Incorporated (NYSE:SNA).

Insider Transactions: Since April 25, 2016, the stock had 0 buys, and 6 insider sales for $9.99 million net activity. 2,000 Snap-on Incorporated (NYSE:SNA) shares with value of $306,590 were sold by KASSOUF THOMAS L.. The insider MORENO JEANNE M sold 10,417 shares worth $1.72M. Banerjee Anup R also sold $967,339 worth of Snap-on Incorporated (NYSE:SNA) shares. $552,882 worth of Snap-on Incorporated (NYSE:SNA) shares were sold by Boyd Iain. Ward Thomas J also sold $6.37 million worth of Snap-on Incorporated (NYSE:SNA) on Wednesday, September 7.

Snap-On Incorporated is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The company has a market cap of $8.54 billion. The Company’s divisions include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. It has a 17.16 P/E ratio. The Company’s Commercial & Industrial Group segment consists of business serving a range of industrial and commercial clients across the world.

SNA Company Profile

Snap-On Incorporated (SNAP-ON), incorporated on April 7, 1930, is a maker and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Company’s services and products include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers. The Company’s divisions include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. The Firm serves its clients in various industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education.

More recent Snap-on Incorporated (NYSE:SNA) news were published by: which released: “Best Stocks for 2016: Snap Up Snap-on Incorporated (SNA)” on December 29, 2015. Also published the news titled: “Snap-On Incorporated (SNA) Earnings Highlight INSANE Efficiency” on April 21, 2016.‘s news article titled: “Snap-on to Present at RBC Capital Markets’ 2016 Industrials Conference” with publication date: August 31, 2016 was also an interesting one.

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