Shares of Snap-On Incorporated (NYSE:SNA) traded today at $210.29, eclipsing its 52-week high. So far today approximately 208,000 shares have been exchanged, as compared to an average 30-day volume of 616,000 shares.
Snap-On Incorporated share prices have moved between a 52-week high of $210.29 and a 52-week low of $90.72 and are now trading 131% above that low price at $209.23 per share.
Snap-On Incorporated (NYSE:SNA) defies analysts with a current price ($209.23) 2.7% above its average consensus price target of $203.63.
Snap-on is a manufacturer of premium tools and software for professional technicians. Hand tools are sold through franchisee-operated mobile vans that serve auto technicians who purchase tools at their own expense. A unique element of its business model is that franchisees bear significant risk, as they must invest as much as $375,000 in the van, inventory, and software. At the same time, franchisees extend personal credit directly to technicians on an individual tool basis. Snap-on currently operates three segments-repair systems and information, commercial and industrial, and tools-which accounted for 31%, 38%, and 31%, respectively, of its $3.7 billion 2019 manufacturing revenue. Its financing arm generates 8% of consolidated revenue and 26% of operating income.
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