The stock of Fred’s, Inc. (NASDAQ:FRED) hit a new 52-week low and has $7.32 target or 11.00% below today’s $8.23 share price. The 6 months bearish chart indicates high risk for the $312.29 million company. The 1-year low was reported on Nov, 3 by Barchart.com. If the $7.32 price target is reached, the company will be worth $34.35 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 89,428 shares traded hands. Fred’s, Inc. (NASDAQ:FRED) has declined 41.37% since April 1, 2016 and is downtrending. It has underperformed by 42.58% 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 11 analyst reports since August 7, 2015 according to StockzIntelligence Inc. On Wednesday, November 2 the stock rating was maintained by Deutsche Bank with “Hold”. The stock has “Sell” rating given by Deutsche Bank on Wednesday, August 31. M Partners maintained it with “Neutral” rating and $16 target price in Wednesday, November 25 report. The stock of Fred’s, Inc. (NASDAQ:FRED) has “Equal Weight” rating given on Monday, August 10 by Stephens. The firm has “Hold” rating by Deutsche Bank given on Monday, October 3. The rating was maintained by Deutsche Bank on Tuesday, May 31 with “Hold”. The firm has “Buy” rating by Sidoti given on Friday, October 7. Stephens downgraded Fred’s, Inc. (NASDAQ:FRED) on Friday, August 7 to “Overweight” rating. The firm has “Underperform” rating given on Wednesday, August 31 by Stephens. M Partners maintained the stock with “Neutral” rating in Monday, August 31 report.
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 Q2 2016. Its down 1.06, from 2.06 in 2016Q1. The ratio fall, 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.
Creative Planning reported 500 shares or 0% of all its holdings. Zurcher Kantonalbank (Zurich Cantonalbank) owns 492 shares or 0% of their US portfolio. Sector Pension Invest Board reported 24,088 shares or 0% of all its holdings. Schwab Charles Invest Mgmt holds 0.01% or 342,434 shares in its portfolio. Bridgeway Capital Management Inc has 0.06% invested in the company for 242,050 shares. State Board Of Administration Of Florida Retirement System holds 0% of its portfolio in Fred’s, Inc. (NASDAQ:FRED) for 44,055 shares. Matarin Cap Ltd Liability last reported 20,378 shares in the company. Deutsche Bank Ag, a Germany-based fund reported 87,597 shares. New York State Teachers Retirement Systems owns 91,310 shares or 0% of their US portfolio. Thrivent For Lutherans has 16,900 shares for 0% of their US portfolio. Ubs Asset Americas holds 0% of its portfolio in Fred’s, Inc. (NASDAQ:FRED) for 17,499 shares. First Interstate State Bank has 8,570 shares for 0.03% of their US portfolio. The Michigan-based Comerica State Bank has invested 0% in Fred’s, Inc. (NASDAQ:FRED). Acadian Asset Mngmt Llc accumulated 0% or 5,961 shares. Profund Advsrs Ltd Liability Corporation, a Maryland-based fund reported 11,456 shares.
Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 12 selling transactions for $986,658 net activity. HAYES MICHAEL sold $73,400 worth of stock. Chambers Ricky sold $102,683 worth of stock or 6,990 shares. 1,189 shares were sold by Dely Mark C, worth $11,938 on Tuesday, September 13. Shares for $22,254 were sold by Holligan Mike on Tuesday, May 31.
More notable recent Fred’s, Inc. (NASDAQ:FRED) news were published by: Investorplace.com which released: “Bear of the Day: Fred’s Inc. Slides on Its Outlook (FRED)” on September 08, 2016, also Zacks.com with their article: “Should You Get Rid of Fred’s, Inc. (FRED) Now?” published on September 28, 2016, Prnewswire.com published: “Eiris Health Services, fred’s Inc. Pharmacy-Owned Specialty Pharmacy, is Now …” on October 03, 2016. More interesting news about Fred’s, Inc. (NASDAQ:FRED) were released by: Zacks.com and their article: “Fred’s Inc (FRED) Appoints Michael Bloom as its New CEO” published on August 30, 2016 as well as Zacks.com‘s news article titled: “Fred’s Inc (FRED) Q2 Loss Wider Y/Y Due to Lower Sales” with publication date: August 31, 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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