The stock of Fred’s, Inc. (NASDAQ:FRED) hit a new 52-week low and has $7.72 target or 12.00% below today’s $8.77 share price. The 5 months bearish chart indicates high risk for the $324.80 million company. The 1-year low was reported on Oct, 17 by Barchart.com. If the $7.72 price target is reached, the company will be worth $38.98 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 36,454 shares traded hands. Fred’s, Inc. (NASDAQ:FRED) has declined 41.24% since March 14, 2016 and is downtrending. It has underperformed by 46.85% the S&P500.
Fred’s, Inc. (NASDAQ:FRED) Ratings Coverage
Out of 4 analysts covering Fred’s (NASDAQ:FRED), 1 rate it a “Buy”, 1 “Sell”, while 2 “Hold”. This means 25% are positive. Fred’s has been the topic of 10 analyst reports since August 7, 2015 according to StockzIntelligence Inc. M Partners maintained it with “Neutral” rating and $16 target price in Wednesday, November 25 report. On Wednesday, August 31 the stock rating was maintained by Deutsche Bank with “Sell”. The stock of Fred’s, Inc. (NASDAQ:FRED) earned “Equal Weight” rating by Stephens on Monday, August 10. The firm has “Hold” rating by Deutsche Bank given on Monday, October 3. The rating was maintained by M Partners on Monday, August 31 with “Neutral”. The stock of Fred’s, Inc. (NASDAQ:FRED) earned “Buy” rating by Sidoti on Friday, October 7. Deutsche Bank maintained Fred’s, Inc. (NASDAQ:FRED) on Tuesday, May 31 with “Hold” rating. The rating was downgraded by Stephens to “Underperform” on Wednesday, August 31. The firm has “Overweight” rating by Stephens given on Friday, August 7.
According to Zacks Investment Research, “Fred’s, Inc. operates discount general merchandise stores in a number states in the southeastern United States. Fred’s stores generally serve low, middle and fixed income families located in small to medium sized towns. The majority of the company’s stores have full service pharmacies. The company also markets goods and services to franchised Fred’s stores.”
Insitutional Activity: The institutional sentiment decreased to 1 in 2016 Q2. Its down 1.06, from 2.06 in 2016Q1. The ratio worsened, as 9 funds sold all Fred’s, Inc. shares owned while 37 reduced positions. 12 funds bought stakes while 34 increased positions. They now own 33.17 million shares or 0.45% less from 33.32 million shares in 2016Q1.
Kennedy Cap Management Inc accumulated 634,525 shares or 0.21% of the stock. Wellington Mgmt Gp Ltd Liability Partnership has invested 0.02% of its portfolio in Fred’s, Inc. (NASDAQ:FRED). Metropolitan Life Insurance Ny has invested 0% of its portfolio in Fred’s, Inc. (NASDAQ:FRED). Invesco Limited reported 94,987 shares or 0% of all its holdings. Nwq Invest Mngmt last reported 3.32 million shares in the company. State Street last reported 800,903 shares in the company. First Interstate Bank & Trust has 0.03% invested in the company for 8,570 shares. Comerica Retail Bank owns 35,000 shares or 0% of their US portfolio. Great West Life Assurance Can reported 2,510 shares or 0% of all its holdings. Horrell Cap Inc has 27,000 shares for 0.25% of their US portfolio. Bridgeway Cap Management last reported 242,050 shares in the company. Aqr Mgmt Ltd, a Connecticut-based fund reported 43,961 shares. Moreover, Guggenheim Capital Ltd Liability Co has 0% invested in Fred’s, Inc. (NASDAQ:FRED) for 91,021 shares. Landscape Capital Mgmt holds 0.06% or 28,601 shares in its portfolio. Moreover, Prudential Financial Inc has 0% invested in Fred’s, Inc. (NASDAQ:FRED) for 83,770 shares.
Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 12 insider sales for $986,658 net activity. HAYES MICHAEL had sold 5,000 shares worth $76,000. $11,938 worth of Fred’s, Inc. (NASDAQ:FRED) was sold by Dely Mark C on Tuesday, September 13. Another trade for 6,990 shares valued at $102,683 was sold by Chambers Ricky. Holligan Mike had sold 1,517 shares worth $22,254 on Tuesday, May 31.
More important recent Fred’s, Inc. (NASDAQ:FRED) news were published by: Zacks.com which released: “Should You Get Rid of Fred’s, Inc. (FRED) Now?” on September 28, 2016, also Prnewswire.com published article titled: “Eiris Health Services, fred’s Inc. Pharmacy-Owned Specialty Pharmacy, is Now …”, Streetinsider.com published: “Deutsche Bank Upgrades Fred’s Inc. (FRED) to Hold” on October 03, 2016. More interesting news about Fred’s, Inc. (NASDAQ:FRED) was released by: Schaeffersresearch.com and their article: “Analyst Update: Heron Therapeutics Inc, Fred’s, Inc., and Cognizant Technology …” with publication date: October 03, 2016.
FRED Company Profile
Fred’s, Inc. (Fred’s), incorporated on June 22, 1960, is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Firm sells general merchandise to its over 20 franchisees. The Firm 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. The Firm is licensed to dispense pharmaceuticals in approximately 50 states. The Firm operates approximately 640 company-owned stores, including over 60 express stores (or Xpress stores). Fred’s is a combination of pharmacy, dollar store and mass merchant strategically located in smaller markets. The Firm offers various product categories, including consumables, such as tobacco, food and beverage, prescription pharmaceuticals, paper and cleaning supplies, pet supplies, health and beauty aids, and discretionary products, such as home decor, seasonal merchandise, auto and hardware, and lawn and garden.
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