Shares of Fred's, Inc. (NASDAQ:FRED) have received an average recommendation of “Hold” from the eight ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $13.00.

A number of analysts have weighed in on the stock. Loop Capital decreased their target price on shares of Fred's to $4.00 and set a “hold” rating for the company in a research report on Thursday. Zacks Investment Research downgraded shares of Fred's from a “hold” rating to a “sell” rating in a research report on Thursday, September 7th.

Several institutional investors have recently bought and sold shares of FRED. Teachers Advisors LLC boosted its holdings in shares of Fred's by 195.1% during the 1st quarter. Teachers Advisors LLC now owns 163,380 shares of the company’s stock worth $2,140,000 after buying an additional 108,011 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Fred's by 5.5% during the 1st quarter. Vanguard Group Inc. now owns 3,254,230 shares of the company’s stock worth $42,630,000 after buying an additional 170,717 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Fred's by 3.4% during the 1st quarter. Geode Capital Management LLC now owns 279,569 shares of the company’s stock worth $3,662,000 after buying an additional 9,209 shares in the last quarter. Bank of America Corp DE lifted its holdings in shares of Fred's by 29.7% in the 1st quarter. Bank of America Corp DE now owns 158,150 shares of the company’s stock worth $2,072,000 after purchasing an additional 36,178 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Fred's by 32.8% in the 1st quarter. State Street Corp now owns 1,126,791 shares of the company’s stock worth $14,761,000 after purchasing an additional 278,250 shares in the last quarter.

Fred's (FRED) traded down $0.95 during trading on Thursday, hitting $4.14. The stock had a trading volume of 5,551,500 shares, compared to its average volume of 1,205,552. Fred's has a one year low of $3.80 and a one year high of $21.77. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.90 and a quick ratio of 0.45.

Fred's (NASDAQ:FRED) last released its quarterly earnings data on Wednesday, December 6th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.29). The firm had revenue of $493.60 million during the quarter, compared to analyst estimates of $499.77 million. Fred's had a negative net margin of 6.08% and a negative return on equity of 4.02%. The business’s quarterly revenue was down 4.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.27) EPS. sell-side analysts predict that Fred's will post -0.39 EPS for the current fiscal year.

Fred's declared that its board has initiated a share repurchase program on Wednesday, December 6th that allows the company to buyback 3,800,000 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

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Fred's Company Profile

Fred’s, Inc (Fred’s) is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Company sells general merchandise to its over 20 franchisees. The Company has approximately 660 retail stores, over 370 pharmacies, and approximately three specialty pharmacy facilities located in over 15 states mainly in the Southeastern United States.

Analyst Recommendations for Fred's (NASDAQ:FRED)

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