Shares of Snap-On Incorporated (SNA) Sees Large Outflow of Money

Snap-On Incorporated (SNA) :The total money flow, which is calculated as the dollar value of composite uptick minus downtick trades was negative ($7.04 million) and the uptick to downtick ratio was 0.7. The transaction value on upticks was $16.72 million and on downticks, the transaction value was $23.77 million. The transaction value of block trades during downticks was $6.26 million. The money flow was negative ($6.26 million), indicating the traders were booking profit on the price strength. Snap-On Incorporated (SNA) rose $1.64 at $161.71, during intraday Wednesday , a rise of 1.02% over the previous days close.


Also, CL King initiates coverage on Snap-On Incorporated (NYSE:SNA) . Analysts at the CL King have a current rating of Buy on the shares. The rating by the firm was issued on June 28, 2016.

Snap-On Incorporated (NYSE:SNA): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $160.56 and $160.20 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $161.72. The buying momentum continued till the end and the stock did not give up its gains. It closed at $161.62, notching a gain of 0.97% for the day. The total traded volume was 553,258 . The stock had closed at $160.07 on the previous day.

The stock has recorded a 20-day Moving Average of 2.82% and the 50-Day Moving Average is 1.76%. In a related news, Moreno Jeanne M, officer (VP & Chief Information Officer) of Snap-On Inc, unloaded 10,417 shares at an average price of $164.71 on May 17, 2016. The total amount of the transaction was worth $1,715,784, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

Snap-on Incorporated (Snap-on) is a manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users. The Companys products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, Government and military, mining, natural resources, power generation and technical education. The Companys business segments include Commercial & Industrial Group, the Snap-on Tools Group, the Repair Systems & Information Group and Financial Services. It offers its products under the brand names: Snap-on, ATI, BAHCO, Blackhawk, Blue-Point, Cartec, CDI, Challenger, Fish and Hook, Hofmann, Irimo, John Bean, Lindstrom, Mitchell1, Nexiq, Pro-Cut, Sandflex, ShopKey, Sioux, Sun and Williams.

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