Analysts Set Fred’s, Inc. (FRED) Target Price at $13.50
Shares of Fred’s, Inc. (NASDAQ:FRED) have received a consensus rating of “Hold” from the eight analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $13.50.
FRED has been the subject of a number of recent research reports. Zacks Investment Research upgraded shares of Fred’s from a “sell” rating to a “hold” rating in a report on Friday, August 25th. Deutsche Bank AG restated a “hold” rating and issued a $17.00 price objective (down from $19.00) on shares of Fred’s in a report on Saturday, June 3rd. Loop Capital initiated coverage on shares of Fred’s in a report on Thursday, August 24th. They issued a “hold” rating and a $6.00 price objective for the company. TheStreet lowered shares of Fred’s from a “c-” rating to a “d” rating in a report on Monday, July 3rd. Finally, ValuEngine lowered shares of Fred’s from a “hold” rating to a “sell” rating in a report on Friday, June 2nd.
Fred’s (NASDAQ:FRED) traded up 2.53% during trading on Tuesday, hitting $6.07. 592,956 shares of the stock traded hands. Fred’s has a 12 month low of $5.62 and a 12 month high of $21.77. The company has a 50-day moving average price of $6.40 and a 200-day moving average price of $11.77. The stock’s market cap is $230.97 million.
Fred’s (NASDAQ:FRED) last announced its quarterly earnings data on Tuesday, June 6th. The company reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.03) by $0.03. The business had revenue of $532.32 million during the quarter, compared to the consensus estimate of $520.28 million. Fred’s had a negative return on equity of 3.93% and a negative net margin of 4.94%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.03 earnings per share. Equities research analysts expect that Fred’s will post ($0.41) EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.24 dividend on an annualized basis and a yield of 3.96%. Fred’s’s dividend payout ratio is currently -8.54%.
A number of large investors have recently bought and sold shares of the stock. Mason Street Advisors LLC raised its stake in Fred’s by 7.2% in the first quarter. Mason Street Advisors LLC now owns 8,225 shares of the company’s stock worth $108,000 after buying an additional 553 shares in the last quarter. Paloma Partners Management Co purchased a new stake in Fred’s during the first quarter worth approximately $136,000. BlueCrest Capital Management Ltd purchased a new stake in Fred’s during the first quarter worth approximately $160,000. Howard Hughes Medical Institute raised its stake in Fred’s by 23.7% in the second quarter. Howard Hughes Medical Institute now owns 13,442 shares of the company’s stock worth $124,000 after buying an additional 2,574 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Fred’s by 6.3% in the second quarter. Public Employees Retirement System of Ohio now owns 13,594 shares of the company’s stock worth $125,000 after buying an additional 804 shares in the last quarter.
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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.
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