Fred's (NASDAQ:FRED)‘s stock had its “hold” rating restated by stock analysts at Loop Capital in a note issued to investors on Thursday. They currently have a $4.00 target price on the stock. Loop Capital’s price objective indicates a potential downside of 2.20% from the stock’s previous close.

Separately, Zacks Investment Research downgraded Fred's from a “hold” rating to a “sell” rating in a research note on Thursday, September 7th. 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 company presently has a consensus rating of “Hold” and a consensus price target of $13.00.

Shares of Fred's (FRED) traded down $0.05 during mid-day trading on Thursday, hitting $4.09. The stock had a trading volume of 1,237,668 shares, compared to its average volume of 1,205,688. Fred's has a fifty-two week low of $3.80 and a fifty-two week high of $21.77. The company has a quick ratio of 0.45, a current ratio of 1.90 and a debt-to-equity ratio of 0.51.

Fred's (NASDAQ:FRED) last issued its earnings results on Wednesday, December 6th. The company reported ($0.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.29). The business had revenue of $493.60 million for the quarter, compared to analysts’ expectations of $499.77 million. Fred's had a negative return on equity of 4.02% and a negative net margin of 6.08%. The business’s quarterly revenue was down 4.5% on a year-over-year basis. During the same period last year, the company posted ($0.27) earnings per share. equities research analysts expect that Fred's will post -0.39 earnings per share for the current year.

Fred's declared that its board has authorized a stock repurchase program on Wednesday, December 6th that authorizes the company to buyback 3,800,000 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

A number of institutional investors have recently added to or reduced their stakes in FRED. GSA Capital Partners LLP purchased a new position in Fred's during the third quarter worth $109,000. Howard Hughes Medical Institute increased its position in Fred's by 23.7% during the second quarter. Howard Hughes Medical Institute now owns 13,442 shares of the company’s stock worth $124,000 after buying an additional 2,574 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in Fred's by 6.3% during the second quarter. Public Employees Retirement System of Ohio now owns 13,594 shares of the company’s stock worth $125,000 after buying an additional 804 shares in the last quarter. Louisiana State Employees Retirement System increased its position in Fred's by 2.1% during the second quarter. Louisiana State Employees Retirement System now owns 14,600 shares of the company’s stock worth $135,000 after buying an additional 300 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new position in Fred's during the second quarter worth $157,000.

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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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