NEW YORK ( TheStreet) -- Shares of Arctic Cat (Nasdaq: ACAT) were gapping up Wednesday morning with an open price 21.5% higher than Tuesday's closing price. The stock closed at $18.99 Tuesday and opened today's trading at $23.07.

The average volume for Arctic Cat has been 115,100 shares per day over the past 30 days. Arctic Cat has a market cap of $231.3 million and is part of the consumer goods sector and automotive industry. Shares are up 29.7% year to date as of the close of trading on Tuesday.

Arctic Cat Inc. designs, engineers, manufactures, and markets snowmobiles and all-terrain vehicles (ATVs) under the Arctic Cat brand name in the United States and internationally. It also offers related parts, garments, and accessories. The company has a P/E ratio of 19, equal to the average automotive industry P/E ratio and above the S&P 500 P/E ratio of 17.7.

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

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