Snap-on a Sturdy Value - Analyst Blog
Snap-on, Inc. (SNA) is a global provider of professional tools, equipment, and related solutions for technicians, vehicle service centers, original equipment manufacturers (OEMs), and other industrial users. Products include a broad range of professional hand and power tools; tool storage; vehicle diagnostics and service equipment; business management systems; equipment repair services; and other tool and equipment solutions.
Snap-on has reported upside earnings surprises for eleven consecutive quarters, which has caught the attention of earnings momentum investors. Management has successfully delivered more predictable and consistent financial performance through the implementation of the "Driven to Deliver" and "Rapid Continuous Improvement" programs.
With the stock's pull-back to the $30's, the stock's valuation compels us to maintain a Buy rating. Over the last ten years, Snap-on's stock has traded in a P/E range of 25 to 12, except most recently when the P/E has declined to 7.8.
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