Snap-on
About: Snap-on manufactures premium tools and software for repair professionals. Hand tools are sold through a franchisee-operated mobile van network 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 in the mobile 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. Its finance arm provides financing to franchisees to run their operations, which includes offering loans and leases for mobile vans.
Employees: 13,200
Fund manager confidence
Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)
48% more first-time investments, than exits
New positions opened: 92 | Existing positions closed: 62
17% more funds holding in top 10
Funds holding in top 10: 6 [Q2] → 7 (+1) [Q3]
8% more capital invested
Capital invested by funds: $12.7B [Q2] → $13.7B (+$1B) [Q3]
2% more funds holding
Funds holding: 852 [Q2] → 869 (+17) [Q3]
5% more repeat investments, than reductions
Existing positions increased: 322 | Existing positions reduced: 308
2.24% less ownership
Funds ownership: 92.31% [Q2] → 90.07% (-2.24%) [Q3]
69% less call options, than puts
Call options by funds: $23.5M | Put options by funds: $77M
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
Tigress Financial Ivan Feinseth 62% 1-year accuracy 42 / 68 met price target | 10%upside $385 | Buy Maintained | 25 Oct 2024 |
Roth MKM Scott Stember 62% 1-year accuracy 13 / 21 met price target | 5%upside $365 | Buy Maintained | 22 Oct 2024 |
Financial journalist opinion
