NEW YORK ( TheStreet) -- Costco Wholesale Corporation (Nasdaq: COST) hit a new 52-week high Friday as it is currently trading at $88.72, above its previous 52-week high of $88.68 with 272,734 shares traded as of 10:30 a.m. ET. Average volume has been 2.4 million shares over the past 30 days.

Costco Wholesale has a market cap of $35.55 billion and is part of the services sector and retail industry. Shares are up 6% year to date as of the close of trading on Thursday.

Costco Wholesale Corporation operates membership warehouses that offer a selection of branded and private label products in a range of merchandise categories in no-frills, self-service warehouse facilities. The company has a P/E ratio of 25.6, above the average retail industry P/E ratio of 24.5 and above the S&P 500 P/E ratio of 17.7.

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

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