Why Stanley Black & Decker (SWK) Stock Is Higher This Morning

NEW YORK (TheStreet) -- Shares of Stanley Black & Decker Inc. (SWK) are up 2.66% to $84.63.

The tool manufacturer reported first quarter profit of $161.9 million, or $1.02 a share, up from $81.1 million, or 51 cents a share, a year ago.

Excluding charges related to mergers and acquisitions, it posted earnings of $1.07 a share for the quarter.

Net sales were up 7% to $2.64 billion.

Analysts surveyed by Thomson Reuters projected earnings of 96 cents a share on revenue of $2.6 billion.

The company raised the low end of its adjusted per-share earnings for the year 5 cents to $5.35 to $5.50.

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TheStreet Ratings team rates STANLEY BLACK & DECKER INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:

"We rate STANLEY BLACK & DECKER INC (SWK) a BUY. This is driven by a number of strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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