Fred's (FRED) was Upgraded by Sidoti to ” Buy”. Earlier the firm had a rating of “Neutral ” on the company shares. Sidoti advised their investors in a research report released on Oct 7, 2016.
Many Wall Street Analysts have commented on Fred's. Shares were Reiterated by Deutsche Bank on Aug 31, 2016 to “Sell” and Lowered the Price Target to $ 10 from a previous price target of $12 .Shares were Downgraded by Deutsche Bank on Aug 8, 2016 to ” Sell” and Lowered the Price Target to $ 12 from a previous price target of $15 .
On the company’s financial health, Fred's reported $-0.18 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 30, 2016. Analyst had a consensus of $-0.20. The company had revenue of $529.50 million for the quarter, compared to analysts expectations of $546.23 million. The company’s revenue was down -3.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $-0.13 EPS.
Fred's opened for trading at $9.15 and hit $9.85 on the upside on Friday, eventually ending the session at $9.57, with a gain of 4.13% or 0.38 points. The heightened volatility saw the trading volume jump to 7,25,033 shares. Company has a market cap of $357 M.
In a different news, on Sep 13, 2016, Mark C Dely (SVP) sold 1,189 shares at $10.04 per share price. According to the SEC, on Sep 13, 2016, Michael Hayes (director) sold 9,369 shares at $10.17 per share price. On Jun 2, 2016, Ricky Chambers (EVP) sold 6,990 shares at $14.69 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.