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Shares of Fred’s (NASDAQ:FRED) hit a new 52-week high during mid-day trading on Thursday, AmericanBankingNews.com reports. The stock traded as high as $19.69 and last traded at $18.17, with a volume of 147,605 shares trading hands. The stock had previously closed at $17.76.

FRED has been the subject of a number of recent research reports. Analysts at Sidoti downgraded shares of Fred’s from a “buy” rating to a “neutral” rating in a research note to investors on Thursday. 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 research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and an average price target of $15.67.

Fred’s has a one year low of $12.30 and a one year high of $19.69. The stock has a 50-day moving average of $17.49 and a 200-day moving average of $16.59. The company has a market cap of $671.5 million and a price-to-earnings ratio of 22.77.

Fred’s (NASDAQ:FRED) last announced its earnings results on Tuesday, November 26th. The company reported $0.20 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.18 earnings per share. Fred’s's revenue was up 2.2% compared to the same quarter last year. Analysts expect that Fred’s will post $0.80 EPS for the current fiscal year.

Fred’s, Inc is engaged in the sale of general merchandise through its retail discount stores and full-service pharmacies.

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