NEW YORK ( TheStreet) -- Shares of LMI Aerospace (Nasdaq: LMIA) were gapping up Friday morning with an open price 10.8% higher than Thursday's closing price. The stock closed at $17.18 Thursday and opened today's trading at $19.03.

The average volume for LMI has been 39,200 shares per day over the past 30 days. LMI has a market cap of $211.3 million and is part of the industrial goods sector and aerospace/defense industry. Shares are up 7.4% year to date as of the close of trading on Thursday.

LMI Aerospace, Inc. provides design engineering services, structural assemblies, kits, and components to the aerospace, defense, and technology markets primarily in the United States. The company operates in two segments, Aerostructures and Engineering Services. The company has a P/E ratio of 19.5, above the average aerospace/defense industry P/E ratio of 19.3 and above the S&P 500 P/E ratio of 17.5.

TheStreet Ratings rates LMI 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 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 LMI Ratings Report.

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