NEW YORK (TheStreet) -- The Home Depot (HD) - Get Report stock is gaining 1.21% to $121.24 in pre-market trading on Tuesday after the company reported earnings results that surpassed analyst estimates for the second quarter of fiscal 2015.

The company reported earnings of $1.73 per diluted share for the quarter ended August 2, a 13.8% increase from $1.52 per share for the same quarter last year.

Revenue increased 4.3% to $24.83 billion for the quarter, up from $23.81 billion last year.

Analyst surveyed by Thomson Reuters had estimated earnings of $1.71 per share on revenue of $24.7 billion for the latest quarter.

TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust said: "Home Depot is all about getting more from each customer both contractor and do-it-yourself shoppers. It is a remarkable share take from the small hardware stores and from Sears (SHLD) , and it is all about competitive pricing and excellent technology."

The Home Depot's same store sales increased 4.2% in all stores and 5.7% in U.S. stores for second quarter.

"They obviously had a great spring planting season," Cramer added.

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Additionally, the company increased its earnings guidance for fiscal 2015 to $5.31 to $5.36, from $5.24 to $5.27.

Separately, TheStreet Ratings team rates HOME DEPOT INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:

"We rate HOME DEPOT INC (HD) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, increase in net income, revenue growth and notable return on equity. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."

You can view the full analysis from the report here: HD Ratings Report

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