The stock of Fred’s, Inc. (NASDAQ:FRED) hit a new 52-week low and has $7.82 target or 12.00% below today’s $8.89 share price. The 8 months bearish chart indicates high risk for the $330.95M company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $7.82 price target is reached, the company will be worth $39.71M 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 50,593 shares traded hands. Fred’s, Inc. (NASDAQ:FRED) has declined 39.68% since March 10, 2016 and is downtrending. It has underperformed by 47.20% 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. The rating was maintained by Deutsche Bank on Wednesday, August 31 with “Sell”. The firm has “Buy” rating by Sidoti given on Friday, October 7. The stock of Fred’s, Inc. (NASDAQ:FRED) earned “Hold” rating by Deutsche Bank on Monday, October 3. M Partners maintained it with “Neutral” rating and $16 target price in Wednesday, November 25 report. M Partners maintained Fred’s, Inc. (NASDAQ:FRED) on Monday, August 31 with “Neutral” rating. The firm has “Equal Weight” rating by Stephens given on Monday, August 10. The stock has “Overweight” rating given by Stephens on Friday, August 7. Deutsche Bank maintained Fred’s, Inc. (NASDAQ:FRED) on Tuesday, May 31 with “Hold” rating. The company was downgraded on Wednesday, August 31 by Stephens.
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 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.
Voya Investment Lc has 0% invested in the company for 17,890 shares. Rockefeller Financial Incorporated reported 489,463 shares or 0.16% of all its holdings. Moreover, Geode Cap Management Ltd Company has 0% invested in Fred’s, Inc. (NASDAQ:FRED) for 241,779 shares. Bridgeway Cap Mngmt Inc holds 242,050 shares or 0.06% of its portfolio. Teachers holds 55,369 shares or 0% of its portfolio. Thrivent Fin For Lutherans has 0% invested in the company for 16,900 shares. Pnc Fincl Services Grp Inc, a Pennsylvania-based fund reported 426 shares. Ls Advsr Limited Liability Com accumulated 0% or 1,173 shares. State Board Of Administration Of Florida Retirement Sys last reported 44,055 shares in the company. Kennedy Cap Mgmt has 634,525 shares for 0.21% of their US portfolio. Manufacturers Life Insur The holds 0% or 24,801 shares in its portfolio. Ubs Asset Mgmt Americas last reported 0% of its portfolio in the stock. Ameriprise holds 0% of its portfolio in Fred’s, Inc. (NASDAQ:FRED) for 172,890 shares. Principal Fin accumulated 0.01% or 246,375 shares. Matarin Capital Management Limited Liability Company accumulated 20,378 shares or 0% of the stock.
Insider Transactions: Since May 27, 2016, the stock had 0 insider purchases, and 12 insider sales for $986,658 net activity. $11,938 worth of Fred’s, Inc. (NASDAQ:FRED) shares were sold by Dely Mark C. 16,414 shares with value of $177,654 were sold by HAYES MICHAEL on Wednesday, September 7. $102,683 worth of Fred’s, Inc. (NASDAQ:FRED) was sold by Chambers Ricky. Holligan Mike also sold $22,254 worth of Fred’s, Inc. (NASDAQ:FRED) shares.
More 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 Schaeffersresearch.com published the news titled: “Analyst Update: Heron Therapeutics Inc, Fred’s, Inc., and Cognizant Technology …” on October 03, 2016. Prnewswire.com‘s news article titled: “Eiris Health Services, fred’s Inc. Pharmacy-Owned Specialty Pharmacy, is Now …” with publication date: October 03, 2016 was also an interesting one.
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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