Loop Capital reissued their hold rating on shares of Fred’s (NASDAQ:FRED) in a research note published on Monday.
A number of other research analysts have also commented on the stock. ValuEngine lowered shares of Fred’s from a sell rating to a strong sell rating in a research report on Tuesday, May 1st. Zacks Investment Research upgraded shares of Fred’s from a sell rating to a hold rating in a research report on Tuesday, March 13th. One analyst has rated the stock with a sell rating and three have issued a hold rating to the stock. Fred’s presently has an average rating of Hold and a consensus target price of $6.00.
Fred’s stock opened at $2.28 on Monday. The company has a market capitalization of $79.74 million, a P/E ratio of -0.61 and a beta of 1.44. The company has a quick ratio of 0.42, a current ratio of 1.66 and a debt-to-equity ratio of 1.10. Fred’s has a 1-year low of $1.30 and a 1-year high of $13.15.
Fred’s (NASDAQ:FRED) last released its quarterly earnings results on Thursday, June 14th. The company reported ($0.54) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.42). The firm had revenue of $437.11 million for the quarter. Fred’s had a negative net margin of 7.08% and a negative return on equity of 30.90%. During the same period in the prior year, the business earned ($1.02) EPS.
Several institutional investors and hedge funds have recently added to or reduced their stakes in FRED. Schwab Charles Investment Management Inc. grew its position in shares of Fred’s by 16.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 788,499 shares of the company’s stock valued at $3,194,000 after purchasing an additional 113,168 shares in the last quarter. California Public Employees Retirement System grew its position in Fred’s by 26.1% in the fourth quarter. California Public Employees Retirement System now owns 328,439 shares of the company’s stock worth $1,330,000 after acquiring an additional 67,895 shares in the last quarter. Arizona State Retirement System grew its position in Fred’s by 223.9% in the fourth quarter. Arizona State Retirement System now owns 60,158 shares of the company’s stock worth $244,000 after acquiring an additional 41,583 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Fred’s by 24,644.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 29,693 shares of the company’s stock worth $120,000 after acquiring an additional 29,573 shares in the last quarter. Finally, Royce & Associates LP purchased a new position in Fred’s in the fourth quarter worth $3,498,000. Hedge funds and other institutional investors own 99.94% of the company’s stock.
Fred’s Company Profile
Fred's, Inc, together with its subsidiaries, sells general merchandise through its retail discount stores and full service pharmacies. The company, through its stores, offers health, beauty, and personal care products; household cleaning supplies, disposable diapers, pet foods, and paper products; and various general merchandise, and food and beverage products to low, middle, and fixed income families located in small- to medium-sized towns.
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