Fred's (FRED) is Initiated by Sidoti to Neutral

Fred's (FRED) was Initiated by Sidoti to “Neutral”. Sidoti advised their investors in a research report released on Jul 6, 2016.

On the company’s financial health, Fred's reported $0.04 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on May 26, 2016. Analyst had a consensus of $0.02. The company had revenue of $549.50 million for the quarter, compared to analysts expectations of $563.24 million. The company’s revenue was up 8.0% compared to the same quarter last year.

Fred's closed down -0.03 points or -0.19% at $16.05 with 79,710 shares getting traded on Tuesday. Post opening the session at $16.07, the shares hit an intraday low of $15.77 and an intraday high of $16.13 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on Jun 10, 2016, Michael Hayes (director) sold 5,000 shares at $15.20 per share price. According to the SEC, on Jun 2, 2016, Ricky Chambers (EVP) sold 6,990 shares at $14.69 per share price. On May 31, 2016, Mike Holligan (EVP) sold 1,517 shares at $14.67 per share price, according to the Form-4 filing with the securities and exchange commission.

Fred’s Inc. (Fred’s) is an operator of general merchandise stores. The Company operates approximately 660 discount general merchandise stores including around 19 franchised Fred’s stores in 15 states in the southeastern United States. The Company has around 370 full service pharmacies in its stores. The Company offers different 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. Fred’s Xpress stores offer pharmacy services along with a scaled-down convenience centered general merchandise area. The Company’s Xpress stores typically sell primarily pharmaceuticals other health and beauty related items and general merchandise offerings mainly consumables. The Company also has a specialty pharmacy facility EIRIS Health Services.


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