Snap-On Incorporated (NYSE:SNA) traded at a new 52-week high today of $242.79. Approximately 79,000 shares have changed hands today, as compared to an average 30-day volume of 432,000 shares.
In the past 52 weeks, Snap-On Incorporated share prices are bracketed by a low of $115.60 and a high of $242.79 and is now at $242.52, 110% above that low price.
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 30%, 30%, and 40%, respectively, of its $3.6 billion 2020 manufacturing revenue. Its financing arm generates 9% of consolidated revenue and 26% of operating income.
Based on a current price of $242.52, Snap-On Incorporated is currently 9.0% above its average consensus analyst price target of $220.79.
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