Fred’s, Inc. (FRED) Given Consensus Rating of “Hold” by Analysts
Fred’s, Inc. (NASDAQ:FRED) has been given an average recommendation of “Hold” by the eight ratings firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $13.50.
FRED has been the topic of a number of research reports. Deutsche Bank AG decreased their target price on shares of Fred’s from $16.00 to $8.00 and set a “hold” rating on the stock in a research note on Thursday, June 29th. TheStreet cut shares of Fred’s from a “c-” rating to a “d” rating in a research note on Monday, July 3rd. Loop Capital initiated coverage on shares of Fred’s in a research note on Thursday, August 24th. They set a “hold” rating and a $6.00 target price on the stock. Finally, Zacks Investment Research raised shares of Fred’s from a “sell” rating to a “hold” rating in a research note on Friday, August 25th.
A number of institutional investors and hedge funds have recently modified their holdings of FRED. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Fred’s during the second quarter valued at $11,058,000. State Street Corp boosted its position in Fred’s by 32.8% during the first quarter. State Street Corp now owns 1,126,791 shares of the company’s stock valued at $14,761,000 after acquiring an additional 278,250 shares during the last quarter. Highbridge Capital Management LLC boosted its position in Fred’s by 485.6% during the first quarter. Highbridge Capital Management LLC now owns 292,781 shares of the company’s stock valued at $3,836,000 after acquiring an additional 242,781 shares during the last quarter. Vanguard Group Inc. boosted its position in Fred’s by 5.5% during the first quarter. Vanguard Group Inc. now owns 3,254,230 shares of the company’s stock valued at $42,630,000 after acquiring an additional 170,717 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its position in Fred’s by 129.7% during the second quarter. State of Wisconsin Investment Board now owns 194,100 shares of the company’s stock valued at $1,792,000 after acquiring an additional 109,600 shares during the last quarter.
Shares of Fred’s (NASDAQ FRED) traded up 1.13% on Wednesday, reaching $5.38. The company’s stock had a trading volume of 101,622 shares. The firm has a 50 day moving average of $6.48 and a 200 day moving average of $9.69. Fred’s has a 52-week low of $5.22 and a 52-week high of $21.77. The company’s market cap is $204.85 million.
Fred’s (NASDAQ:FRED) last posted its earnings results on Wednesday, September 6th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.04. The firm had revenue of $507.80 million for the quarter, compared to analysts’ expectations of $504.90 million. Fred’s had a negative net margin of 6.08% and a negative return on equity of 4.02%. The company’s revenue was down 4.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.18) earnings per share. Analysts predict that Fred’s will post ($0.38) earnings per share for the current year.
Fred’s Company Profile
Fred’s, Inc (Fred’s) is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Company sells general merchandise to its over 20 franchisees. The Company has approximately 660 retail stores, over 370 pharmacies, and approximately three specialty pharmacy facilities located in over 15 states mainly in the Southeastern United States.
Receive News & Ratings for Fred's Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fred's Inc. and related companies with MarketBeat.com's FREE daily email newsletter.