NEW YORK (

TheStreet

) -- Shares of

PetSmart

(Nasdaq:

PETM

) were gapping up Wednesday morning with an open price 10.2% higher than Tuesday's closing price. The stock closed at $55.62 Tuesday and opened today's trading at $61.32.

The average volume for PetSmart has been one million shares per day over the past 30 days. PetSmart has a market cap of $6.04 billion and is part of the

services

sector and

specialty retail

industry. Shares are up 8.4% year to date as of the close of trading on Tuesday.

PetSmart, Inc., together with its subsidiaries, operates as a specialty retailer of products, services, and solutions for pets in the United States, Puerto Rico, and Canada. The company has a P/E ratio of 21.9, equal to the average specialty retail industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates PetSmart as a

buy

. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, notable return on equity, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full

PetSmart Ratings Report

.

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