NEW YORK (TheStreet) -- Shares of Tile Shop (TTS) - Get Report were spiking 10.36% to $16.93 on heavy trading volume Wednesday afternoon as the company is set to join the S&P SmallCap 600 after Friday's market close.
The Plymouth, MN-based specialty tile retailer will replace Epiq Systems (EPIQ). Omers Private Equity is acquiring Epiq in a deal expected to be completed soon pending final conditions, according to a statement late yesterday from S&P Dow Jones Indices.
More than 1.06 million of Tile Shop's shares traded so far today compared to its average 30-day volume of 426,210 shares.
Separately, TheStreet Ratings Team has a "Buy" rating with a score of B- on the stock.
The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income, revenue growth, expanding profit margins and good cash flow from operations.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: TTS