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TheStreet Wire

Peet's Coffee & Tea Rises On Unusually High Volume (PEET)

By TheStreet Wire 03/02/11 - 12:20 PM EST

Find out if (PEET) is in Cramer's Portfolio.

NEW YORK (TheStreet) -- Peet's Coffee & Tea (Nasdaq:PEET) is trading at unusually high volume Wednesday with 485,566 shares changing hands. It is currently at four times its average daily volume and trading up $3.61 (+8.4%) at $46.48 as of 11:51 a.m. ET.

Peet's Coffee & Tea has a market cap of $547.5 million and is part of the consumer goods sector and food & beverage industry. Shares are up 2.7% year to date as of the close of trading on Tuesday.

Peet's Coffee & Tea, Inc., together with its subsidiaries, operates as a coffee roaster and marketer of roasted whole bean coffee and tea in the United States. The company has a P/E ratio of 32.1, below the average food & beverage industry P/E ratio of 33.4 and above the S&P 500 P/E ratio of 21.9.

TheStreet Ratings rates Peet's Coffee & Tea as a buy. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures 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. You can view the full Peet's Coffee & Tea Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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