Fred’s Downgraded to Neutral at Sidoti (FRED)
Fred’s (NASDAQ:FRED) was downgraded by equities research analysts at Sidoti from a “buy” rating to a “neutral” rating in a research note issued to investors on Thursday, TheFlyOnTheWall.com reports.
Fred’s (NASDAQ:FRED) traded up 1.30% on Thursday, hitting $17.99. The stock had a trading volume of 183,401 shares. Fred’s has a one year low of $12.30 and a one year high of $18.93. The stock’s 50-day moving average is $17. and its 200-day moving average is $16.58. The company has a market cap of $661.9 million and a price-to-earnings ratio of 22.77.
Fred’s (NASDAQ:FRED) last released its earnings data on Tuesday, November 26th. The company reported $0.20 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.20. The company had revenue of $460.50 million for the quarter, compared to the consensus estimate of $458.81 million. During the same quarter in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. On average, analysts predict that Fred’s will post $0.80 earnings per share for the current fiscal year.
Separately, analysts at Zacks reiterated a “neutral” rating on shares of Fred’s in a research note to investors on Wednesday, November 13th. They now have a $17.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus target price of $15.67.
Fred’s, Inc is engaged in the sale of general merchandise through its retail discount stores and full-service pharmacies.
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