NEW YORK ( TheStreet) -- Shares of Cooper Industries (NYSE: CBE) have taken a tremendous swing upward. The stock is trading at $70.55 as of 9:30 a.m. ET, 26.3% above Friday's closing price of $55.84. Volume is at 841,104, 0.9 times the daily average of 916,100. Cooper has a market cap of $8.97 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 4.1% year to date as of the close of trading on Friday. Cooper Industries plc manufactures and sells electrical components and tools in the United States and internationally. It operates in two segments, Energy and Safety Solutions, and Electrical Products Group. The company has a P/E ratio of 14.3, equal to the average conglomerates industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Cooper as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Cooper Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center.