NEW YORK ( TheStreet) -- Shares of Actuant (NYSE: ATU) were gapping up Wednesday morning with an open price 15.3% higher than Tuesday's closing price. The stock closed at $20.78 Tuesday and opened today's trading at $23.96. The average volume for Actuant has been 980,900 shares per day over the past 30 days. Actuant has a market cap of $1.38 billion and is part of the industrial goods sector and industrial industry. Shares are down 21.9% year to date as of the close of trading on Tuesday. Actuant Corporation designs, manufactures, and distributes industrial products and systems worldwide. The company has a P/E ratio of 12, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Actuant as a buy. 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, robust revenue growth, attractive valuation levels and expanding profit margins. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full Actuant Ratings Report. Get more investment ideas from our investment research center. Interested in other stocks that are gapping up? Get free SMS text alerts sent to you when the action happens by texting UP to 95370 or select from multiple alert options.