Insider Buying: Teresa Gabor Purchases 67 Shares of Fred's Stock (FRED)
Fred's (NASDAQ:FRED) SVP Teresa Gabor bought 67 shares of the company’s stock in a transaction dated Friday, July 11th. The shares were purchased at an average cost of $13.00 per share, for a total transaction of $871.00. Following the purchase, the senior vice president now directly owns 5,703 shares in the company, valued at approximately $74,139. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Fred's (NASDAQ:FRED) traded down 1.27% on Friday, hitting $14.82. 215,032 shares of the company’s stock traded hands. Fred's has a one year low of $14.53 and a one year high of $21.05. The stock’s 50-day moving average is $15.31 and its 200-day moving average is $17.48. The company has a market cap of $546.2 million and a price-to-earnings ratio of 26.52.
Fred's (NASDAQ:FRED) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.17 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.20 by $0.03. The company had revenue of $498.30 million for the quarter, compared to the consensus estimate of $501.64 million. During the same quarter in the prior year, the company posted $0.31 earnings per share. The company’s quarterly revenue was down .6% on a year-over-year basis. Analysts expect that Fred's will post $0.62 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at TheStreet downgraded shares of Fred's from a “buy” rating to a “hold” rating in a research note on Friday, June 13th. Separately, analysts at Zacks reiterated an “underperform” rating on shares of Fred's in a research note on Wednesday, June 4th. They now have a $14.00 price target on the stock. Finally, analysts at Wedbush reiterated a “neutral” rating on shares of Fred's in a research note on Friday, May 30th. They now have a $12.00 price target on the stock, down previously from $14.00. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $14.50.
Fred’s, Inc is engaged in the sale of general merchandise through its retail discount stores and full-service pharmacies.
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