Shares of Fred’s (NASDAQ:FRED) traded up 18.6% during trading on Monday . The stock traded as high as $1.98 and last traded at $1.85. 4,207,213 shares changed hands during trading, an increase of 277% from the average session volume of 1,115,764 shares. The stock had previously closed at $1.56.
A number of brokerages recently issued reports on FRED. ValuEngine raised shares of Fred’s from a “strong sell” rating to a “sell” rating in a research report on Wednesday, April 4th. Zacks Investment Research raised shares of Fred’s from a “sell” rating to a “hold” rating in a research report on Tuesday, March 13th. Finally, Loop Capital set a $4.00 target price on shares of Fred’s and gave the stock a “hold” rating in a research report on Monday, April 30th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. Fred’s presently has a consensus rating of “Hold” and an average target price of $6.00.
The company has a current ratio of 1.72, a quick ratio of 0.47 and a debt-to-equity ratio of 0.92. The company has a market cap of $68.68 million, a P/E ratio of -0.50 and a beta of 1.59.
Fred’s (NASDAQ:FRED) last released its quarterly earnings results on Friday, May 4th. The company reported ($0.62) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.19) by ($0.43). Fred’s had a negative net margin of 7.47% and a negative return on equity of 19.11%. The business had revenue of $477.29 million during the quarter. During the same period last year, the company earned ($0.11) earnings per share.
Several institutional investors have recently added to or reduced their stakes in the stock. California Public Employees Retirement System increased its position in Fred’s by 27.5% during the 3rd quarter. California Public Employees Retirement System now owns 260,544 shares of the company’s stock worth $1,678,000 after buying an additional 56,251 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in Fred’s by 16.8% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 788,499 shares of the company’s stock valued at $3,194,000 after buying an additional 113,168 shares in the last quarter. Arizona State Retirement System boosted its stake in Fred’s by 223.9% in the fourth quarter. Arizona State Retirement System now owns 60,158 shares of the company’s stock valued at $244,000 after buying an additional 41,583 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake 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 valued at $120,000 after buying an additional 29,573 shares in the last quarter. Finally, Royce & Associates LP acquired a new stake in Fred’s in the fourth quarter valued at about $3,498,000.
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 household cleaning supplies, health products, beauty and personal care products, disposable diapers, pet foods, paper products, various food and beverage products, and pharmaceuticals to low, middle, and fixed income families in small- to medium- sized towns.
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