NEW YORK ( TheStreet) -- Shares of X-Rite (Nasdaq: XRIT) have taken a tremendous swing upward. The stock is trading at $5.54 as of 9:30 a.m. ET, 38.5% above Monday's closing price of $4. Volume is at 628,978, 6.4 times the daily average of 98,800. X-Rite has a market cap of $389.7 million and is part of the consumer goods sector and consumer durables industry. Shares are down 13.8% year to date as of the close of trading on Monday. X-Rite, Incorporated develops, manufactures, markets, and supports color solutions through measurement instrumentation systems, software, color standards, and services in the United States, Europe, and the Asia Pacific. The company has a P/E ratio of 7.6, below the average consumer durables industry P/E ratio of 50.3 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates X-Rite as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, notable return on equity, attractive valuation levels, expanding profit margins and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself. You can view the full X-Rite Ratings Report. See our top % gaining stocks list for other stocks that are soaring today, or get investment ideas from our investment research center. Interested in other stocks that are soaring? Get free SMS text alerts sent to you when the action happens by texting SOAR to 95370 or select from multiple alert options.