Fred's Stock Hits New 52-Week High (FRED)

NEW YORK ( TheStreet) -- Fred's (Nasdaq: FRED) hit a new 52-week high Wednesday as it is currently trading at $15.28, above its previous 52-week high of $15.27 with 65,417 shares traded as of 12:14 p.m. ET. Average volume has been 274,800 shares over the past 30 days.

Fred's has a market cap of $538.5 million and is part of the services sector and retail industry. Shares are up 3.2% year to date as of the close of trading on Tuesday.

Fred's, Inc., together with its subsidiaries, engages in the sale of general merchandise through retail discount stores and full service pharmacies in the southeastern United States. The company has a P/E ratio of 16.1, equal to the average retail industry P/E ratio and below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Fred's as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, impressive record of earnings per share growth, increase in net income, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company shows weak operating cash flow. You can view the full Fred's Ratings Report.

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