Why Snap-On (SNA) Stock Is Gaining Today

NEW YORK (TheStreet) -- Shares of Snap-On Inc. (SNA) are higher by 3.49% to $123.19 on heavy volume in mid-morning trading on Thursday following the company's 2014 second quarter earnings report, which showed an increase in net earnings to $106.1 million, or $1.80 per diluted share, compared to $88.4 million, or $1.50 per diluted share for the 2013 second quarter.

The company, which manufacturers and markets tools, equipment, repair information, and systems to professional users, posted an 8.2% increase in sales to $825.6 million from the year ago quarter.

For the most recent quarter the Capital IQ consensus estimate was for $1.68 per share, 12 cents less than what the company reported. Analysts expected revenue to be $810.06 million, compared to what Snap-On reporded.

Must Read: Warren Buffett's 25 Favorite Stocks


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

"We rate SNAP-ON INC (SNA) 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 revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, growth in earnings per share and increase in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

SNA Chart SNA data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Snap Shares Plunge After Cowen Cuts Price Target

Snap Shares Plunge After Cowen Cuts Price Target

FANG Stocks Get Swept Up in Broader Market Selloff

FANG Stocks Get Swept Up in Broader Market Selloff

Dow Tumbles as Trump Ratchets Up China Trade Fight

Dow Tumbles as Trump Ratchets Up China Trade Fight

Sarepta Shares Skyrocket on Early Results for DMD Gene Therapy

Sarepta Shares Skyrocket on Early Results for DMD Gene Therapy

Steel and Aluminum Stocks Suffer Amidst Trade War Woes

Steel and Aluminum Stocks Suffer Amidst Trade War Woes