Price Action To Observe: Could Fred’s, Inc. Gain Strenght? The Stock Reaches 1 Year Low

Price Action To Observe: Could Fred's, Inc. Gain Strenght? The Stock Reaches 1 Year Low

The stock of Fred’s, Inc. (NASDAQ:FRED) hit a new 52-week low and has $7.83 target or 14.00% below today’s $9.11 share price. The 9 months bearish chart indicates high risk for the $328.29M company. The 1-year low was reported on Sep, 30 by If the $7.83 price target is reached, the company will be worth $45.96 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 195,614 shares traded hands. Fred’s, Inc. (NASDAQ:FRED) has declined 37.21% since February 26, 2016 and is downtrending. It has underperformed by 47.64% the S&P500.

Fred’s, Inc. (NASDAQ:FRED) Ratings Coverage

Out of 3 analysts covering Fred’s (NASDAQ:FRED), 0 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 0 are positive. Fred’s has been the topic of 8 analyst reports since August 7, 2015 according to StockzIntelligence Inc. The firm has “Hold” rating given on Tuesday, May 31 by Deutsche Bank. The firm has “Neutral” rating given on Monday, August 31 by M Partners. Stephens downgraded the shares of FRED in a report on Friday, August 7 to “Overweight” rating. Deutsche Bank maintained the shares of FRED in a report on Wednesday, August 31 with “Sell” rating. As per Monday, August 10, the company rating was downgraded by Stephens. The firm has “Underperform” rating by Stephens given on Wednesday, August 31. The stock has “Neutral” rating given by M Partners on Wednesday, November 25.

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.
Principal Fin Group holds 246,375 shares or 0.01% of its portfolio. Texas Permanent School Fund last reported 26,771 shares in the company. State Street Corp accumulated 0% or 800,903 shares. Barrow Hanley Mewhinney And Strauss, a Texas-based fund reported 69,272 shares. Pnc Fincl Serv Grp has 426 shares for 0% of their US portfolio. Springbok Mgmt Limited Liability last reported 7,738 shares in the company. Blackrock Advsr Ltd Liability Corp holds 0.01% or 388,937 shares in its portfolio. State Board Of Administration Of Florida Retirement has 44,055 shares for 0% of their US portfolio. The Connecticut-based Trexquant Inv L P has invested 0.02% in Fred’s, Inc. (NASDAQ:FRED). Moreover, Morgan Stanley has 0% invested in Fred’s, Inc. (NASDAQ:FRED) for 2,200 shares. Nwq Com Limited Liability Com last reported 3.32M shares in the company. Zurcher Kantonalbank (Zurich Cantonalbank) has 492 shares for 0% of their US portfolio. Barclays Plc last reported 0% of its portfolio in the stock. Kennedy Mgmt Inc holds 634,525 shares or 0.21% of its portfolio. Louisiana State Employees Retirement accumulated 0.01% or 15,500 shares.

Insider Transactions: Since May 27, 2016, the stock had 0 buys, and 12 sales for $986,658 net activity. On Thursday, September 1 the insider HAYES MICHAEL sold $55,500. $11,938 worth of shares were sold by Dely Mark C on Tuesday, September 13. The insider Chambers Ricky sold $102,683. $22,254 worth of Fred’s, Inc. (NASDAQ:FRED) was sold by Holligan Mike on Tuesday, May 31.

More news for Fred’s, Inc. (NASDAQ:FRED) were recently published by:, which released: “Should You Get Rid of Fred’s, Inc. (FRED) Now?” on September 28, 2016.‘s article titled: “Bear of the Day: Fred’s Inc. Slides on Its Outlook (FRED)” and published on September 08, 2016 is yet another important article.

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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