NEW YORK ( TheStreet) -- Shares of Panera Bread Company (Nasdaq: PNRA) were gapping up Wednesday morning with an open price 10.7% higher than Tuesday's closing price. The stock closed at $115.72 Tuesday and opened today's trading at $128.10.

The average volume for Panera Bread has been 623,500 shares per day over the past 30 days. Panera Bread has a market cap of $3.6 billion and is part of the services sector and leisure industry. Shares are up 15.4% year to date as of the close of trading on Tuesday.

Panera Bread Company, together with its subsidiaries, owns, operates, and franchises retail bakery-cafes in the United States and Canada. The company has a P/E ratio of 27.7, equal to the average leisure industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Panera Bread as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, impressive record of earnings per share growth, compelling growth in net income and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins. You can view the full Panera Bread Ratings Report.

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