NEW YORK ( TheStreet) -- Fred's (Nasdaq: FRED) hit a new 52-week high Friday as it is currently trading at $14.79, above its previous 52-week high of $14.78 with 44,851 shares traded as of 11:28 a.m. ET. Average volume has been 321,200 shares over the past 30 days. Fred's has a market cap of $541.1 million and is part of the services sector and retail industry. Shares are up 6.7% year to date as of the close of trading on Thursday. Fred's, Inc. and its subsidiaries sell general merchandise through retail discount stores and pharmacies in the southeastern United States. The company has a P/E ratio of 17.8, equal to the average retail industry P/E ratio and above the S&P 500 P/E ratio of 17.7.
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