Barrington Research Comments on Snap-On
Barrington Research provided color on Snap-On (NYSE: SNA) in a research report published today. Barrington Research has an Outperform rating and $65-$70 price target on Snap-On.
In the report, Barrington Research states, "Snap-on's Q3/11 EPS results were significantly better than our expectations with EPS of $1.16 versus our estimate of $0.96 and the consensus of $1.03. EPS benefitted from $0.09 due to a stock-based compensation mark-to-market adjustment. Without this adjustment, EPS for the quarter totaled $1.07."
Later in the report, Barrington Research notes, "The Q3/11 financial release and conference call reflected clear evidence of continued strengthening in all lines of business, including the industrial markets and emerging markets with activity continuing to be at pre-recession growth levels."
Shares of Snap-On were trading at $53.07 at the time of posting, up 2.77% from Friday's market close.
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