Snap-on (SNA) Stock Trades Up, Here Is Why

What Happened?

Shares of professional tools and equipment manufacturer Snap-on (NYSE:SNA) jumped 8% in the morning session after the company reported strong third-quarter earnings results that exceeded analysts' organic revenue and EPS estimates. Management provided encouraging outlook, adding, "We believe that our markets and our operations possess and have demonstrated continuing and considerable resilience against the uncertainties of the current environment." Overall, this as a solid quarter for the company.

Is now the time to buy Snap-on? Access our full analysis report here, it’s free.

What The Market Is Telling Us

Snap-on’s shares are not very volatile and have only had 2 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.

Snap-on is up 13.1% since the beginning of the year, and at $326.43 per share, has set a new 52-week high. Investors who bought $1,000 worth of Snap-on’s shares 5 years ago would now be looking at an investment worth $2,097.

Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefitting from the rise of AI, available to you FREE via this link.