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TheStreet Wire

Peet's Coffee & Tea Reaches New 52-Week High (PEET)

By TheStreet Wire 03/21/12 - 01:30 PM EDT

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

NEW YORK (TheStreet) -- Peet's Coffee & Tea (Nasdaq:PEET) hit a new 52-week high Wednesday as it is currently trading at $70.74, above its previous 52-week high of $69.97 with 53,715 shares traded as of 12:03 p.m. ET. Average volume has been 133,900 shares over the past 30 days.

Peet's Coffee & Tea has a market cap of $762 million and is part of the consumer goods sector and food & beverage industry. Shares are up 10.4% year to date as of the close of trading on Tuesday.

Peet's Coffee & Tea, Inc. operates as a specialty coffee roaster and marketer of fresh roasted whole bean coffee and tea in the United States. It offers whole bean coffee and related products consisting of products for home brewing, tea, and packaged foods; and beverages and pastries. The company has a P/E ratio of 52.1, above the average food & beverage industry P/E ratio of 43 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Peet's Coffee & Tea 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 and solid stock price performance. 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.

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