Insider Buying: Ronald T. Kay Buys 247 Shares of Fred's Stock (FRED)
Fred's (NASDAQ:FRED) VP Ronald T. Kay bought 247 shares of the company’s stock in a transaction that occurred on Friday, July 11th. The stock was purchased at an average price of $13.00 per share, with a total value of $3,211.00. Following the completion of the acquisition, the vice president now directly owns 2,647 shares of the company’s stock, valued at approximately $34,411. The purchase was disclosed in a filing with the SEC, which is available at this link.
FRED has been the subject of a number of recent research reports. 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 analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $14.50.
Shares of Fred's (NASDAQ:FRED) opened at 14.81 on Monday. Fred's has a 52 week low of $14.53 and a 52 week 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 $545.8 million and a price-to-earnings ratio of 26.18.
Fred's (NASDAQ:FRED) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.17 earnings per share for the quarter, missing the analysts’ 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 last year, the company posted $0.31 earnings per share. Fred's’s revenue was down .6% compared to the same quarter last year. Analysts expect that Fred's will post $0.63 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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