Fred’s Inc. (FRED) Upgraded at Sidoti
Fred’s Inc. (NASDAQ:FRED) was upgraded by analysts at Sidoti from a “neutral” rating to a “buy” rating in a report released on Friday. The analysts noted that the move was a valuation call.
A number of other research firms have also recently issued reports on FRED. Deutsche Bank AG reiterated a “hold” rating on shares of Fred’s in a report on Sunday, July 10th. Zacks Investment Research upgraded Fred’s from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Wednesday, July 20th. MKM Partners reiterated a “neutral” rating and set a $14.00 target price on shares of Fred’s in a report on Thursday, July 7th. Finally, TheStreet cut Fred’s from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $12.80.
Fred’s (NASDAQ:FRED) traded up 3.536% during trading on Friday, hitting $9.515. The company had a trading volume of 369,743 shares. Fred’s has a one year low of $8.98 and a one year high of $17.14. The stock’s market capitalization is $355.37 million. The stock has a 50-day moving average of $10.81 and a 200-day moving average of $13.88.
Fred’s (NASDAQ:FRED) last issued its quarterly earnings data on Tuesday, August 30th. The company reported ($0.18) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.21) by $0.03. The business had revenue of $529.50 million for the quarter, compared to the consensus estimate of $546.23 million. Fred’s had a positive return on equity of 0.13% and a negative net margin of 0.37%. The firm’s revenue was down 3.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.13) EPS. On average, equities analysts anticipate that Fred’s will post ($0.35) EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 2.61%. The ex-dividend date of this dividend was Wednesday, August 31st. Fred’s’s payout ratio is -109.09%.
In other news, Director Michael Hayes sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 6th. The stock was sold at an average price of $10.75, for a total value of $107,500.00. Following the completion of the transaction, the director now owns 1,574,047 shares in the company, valued at approximately $16,921,005.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.40% of the stock is owned by insiders.
Several institutional investors have recently made changes to their positions in the stock. Arizona State Retirement System boosted its position in shares of Fred’s by 0.6% in the second quarter. Arizona State Retirement System now owns 18,175 shares of the company’s stock valued at $293,000 after buying an additional 100 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Fred’s by 0.5% in the second quarter. Prudential Financial Inc. now owns 83,770 shares of the company’s stock valued at $1,350,000 after buying an additional 440 shares during the last quarter. Profund Advisors LLC boosted its position in shares of Fred’s by 4.6% in the second quarter. Profund Advisors LLC now owns 11,456 shares of the company’s stock valued at $185,000 after buying an additional 500 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Fred’s by 6.4% in the second quarter. Public Employees Retirement System of Ohio now owns 11,129 shares of the company’s stock valued at $179,000 after buying an additional 674 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its position in shares of Fred’s by 1.3% in the second quarter. Alliancebernstein L.P. now owns 60,510 shares of the company’s stock valued at $975,000 after buying an additional 795 shares during the last quarter. Institutional investors own 95.08% of the company’s stock.
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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