Shares of Fred’s, Inc. (NASDAQ:FRED) have earned an average rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, four have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $13.50.
FRED has been the subject of several research reports. TheStreet lowered shares of Fred’s from a “c-” rating to a “d” rating in a research report on Monday, July 3rd. Zacks Investment Research raised shares of Fred’s from a “sell” rating to a “hold” rating in a research report on Friday, August 25th. Loop Capital initiated coverage on shares of Fred’s in a research report on Thursday, August 24th. They set a “hold” rating and a $6.00 price target for the company. Finally, Deutsche Bank AG reduced their price target on shares of Fred’s from $16.00 to $8.00 and set a “hold” rating for the company in a research report on Thursday, June 29th.
Fred’s (FRED) remained flat at $5.39 during trading on Wednesday. The stock had a trading volume of 464,716 shares. The company has a 50-day moving average of $6.37 and a 200-day moving average of $9.46. Fred’s has a one year low of $5.22 and a one year high of $21.77. The firm’s market capitalization is $205.24 million.
Fred’s (NASDAQ:FRED) last released its quarterly earnings results on Wednesday, September 6th. The company reported ($0.15) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.19) by $0.04. Fred’s had a negative net margin of 6.08% and a negative return on equity of 4.02%. The firm had revenue of $507.80 million during the quarter, compared to analyst estimates of $504.90 million. During the same quarter in the prior year, the firm earned ($0.18) EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. Equities research analysts expect that Fred’s will post ($0.38) earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio increased its position in shares of Fred’s by 6.3% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,594 shares of the company’s stock valued at $125,000 after purchasing an additional 804 shares during the last quarter. Verition Fund Management LLC purchased a new stake in shares of Fred’s during the 2nd quarter valued at about $157,000. The Manufacturers Life Insurance Company increased its position in shares of Fred’s by 1.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 28,416 shares of the company’s stock valued at $263,000 after purchasing an additional 405 shares during the last quarter. State Street Corp increased its position in shares of Fred’s by 12.8% during the 2nd quarter. State Street Corp now owns 1,271,228 shares of the company’s stock valued at $11,732,000 after purchasing an additional 144,437 shares during the last quarter. Finally, Voya Investment Management LLC increased its position in shares of Fred’s by 9.0% during the 2nd quarter. Voya Investment Management LLC now owns 19,503 shares of the company’s stock valued at $180,000 after purchasing an additional 1,613 shares during the last quarter.
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.
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