NEW YORK ( TheStreet) -- Shares of Lululemon Athletica (Nasdaq: LULU) were gapping up Tuesday morning with an open price 12% higher than Monday's closing price. The stock closed at $53.44 Monday and opened today's trading at $59.86. The average volume for Lululemon has been 3.5 million shares per day over the past 30 days. Lululemon has a market cap of $5.7 billion and is part of the consumer goods sector and consumer non-durables industry. Shares are up 15% year to date as of the close of trading on Monday. Lululemon Athletica Inc., together with its subsidiaries engages in the design, manufacture, and distribution of athletic apparel and accessories for women, men, and female youth primarily in Canada, the United States, and Australia. The company has a P/E ratio of 47.1, below the average consumer non-durables industry P/E ratio of 68.6 and above the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Lululemon 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, notable return on equity, expanding profit margins and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full Lululemon 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.