Innovator, manufacturer and marketer of tool, diagnostic and equipment solutions for professional tool users. Product lines include hand and power tools, diagnostics and shop equipment, tool storage, diagnostics software and other solutions.
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Snap-on is due to rebound strongly with a pickup in the ecomony. The auto industry is turning around and the growth in alternative energy including natural gas should drive demand for snap on products. Q1 earnings of $.63/sh and the stronger quarters ahead should drive earnings of about $3.00 for the year. That easily supports a stock price of $60 - $70 and you get a nice divided as a bonus.