Mid-cap tool firm Snap-On (SNA) is having a banner year in 2012, driven by a vehicle fleet in this country that's older now on average than it's ever been before. Shares of Snap-On are up more than 24% since the start of 2012 as sales continue to outpace analysts' expectations.
Snap-On sells its tools and diagnostic equipment to a diverse mix of customers, most of whom are professionals who work on cars, trucks, planes, or other machines. Independent car techs are the biggest buyer of Snap-On products, served by a fleet of 3,200 vans that sell and deliver tools directly to potential client shops. That control of the product from manufacture to delivery gives SNA precision control over its costs, a fact that's helped the firm react to economic headwinds in the last few years.An eye to emerging markets could provide significant growth opportunities for Snap-On, as the firm looks at courting the tool market in China. Even a modest success in the People's Republic could yield significant performance improvements for SNA's shareholders -- we're watching this Rocket Stock this week. To see all of this week's Rocket Stocks in action, check out the Rocket Stocks portfolio at Stockpickr. -- Written by Jonas Elmerraji in Baltimore.
Twitter and become a fan on Facebook.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV