Somewhat Positive Press Coverage Somewhat Unlikely to Affect Fred’s (FRED) Stock Price

News headlines about Fred’s (NASDAQ:FRED) have been trending somewhat positive this week, according to Accern. Accern identifies positive and negative media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Fred’s earned a daily sentiment score of 0.07 on Accern’s scale. Accern also gave headlines about the company an impact score of 45.7019213770178 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the company’s share price in the near term.

Here are some of the headlines that may have impacted Accern’s analysis:

FRED has been the subject of several recent analyst reports. TheStreet downgraded Fred’s from a “c-” rating to a “d” rating in a research note on Monday, July 3rd. Zacks Investment Research upgraded Fred’s from a “sell” rating to a “hold” rating in a research note on Friday, August 25th. Finally, Loop Capital initiated coverage on Fred’s in a research note on Thursday, August 24th. They set a “hold” rating and a $6.00 target price for the company. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $13.50.

Shares of Fred’s (FRED) traded down 8.97% during mid-day trading on Friday, hitting $4.77. The company’s stock had a trading volume of 1,976,389 shares. Fred’s has a 1-year low of $4.51 and a 1-year high of $21.77. The company has a 50-day moving average of $6.32 and a 200 day moving average of $9.26. The company’s market cap is $181.63 million.

Fred’s (NASDAQ:FRED) last posted its quarterly earnings data on Wednesday, September 6th. The company reported ($0.15) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.19) by $0.04. Fred’s had a negative return on equity of 4.02% and a negative net margin of 6.08%. The business had revenue of $507.80 million during the quarter, compared to the consensus estimate of $504.90 million. During the same period in the prior year, the business posted ($0.18) earnings per share. Fred’s’s quarterly revenue was down 4.1% on a year-over-year basis. On average, analysts expect that Fred’s will post ($0.38) EPS for the current year.

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About Fred’s

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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