Fred's (FRED) Lifted to “Sell” at ValuEngine

ValuEngine upgraded shares of Fred's (NASDAQ:FRED) from a strong sell rating to a sell rating in a research note released on Wednesday.

Several other research firms have also recently issued reports on FRED. Loop Capital reaffirmed a hold rating and issued a $4.00 price target on shares of Fred's in a report on Thursday, December 7th. Zacks Investment Research cut Fred's from a hold rating to a strong sell rating in a report on Monday, December 11th. One research analyst has rated the stock with a sell rating and three have issued a hold rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $6.00.

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NASDAQ FRED opened at $2.96 on Wednesday. Fred's has a 1 year low of $2.36 and a 1 year high of $16.27. The company has a current ratio of 1.78, a quick ratio of 0.44 and a debt-to-equity ratio of 0.77.

A number of large investors have recently made changes to their positions in the business. OppenheimerFunds Inc. raised its stake in Fred's by 3.9% during the 4th quarter. OppenheimerFunds Inc. now owns 1,712,312 shares of the company’s stock valued at $6,936,000 after purchasing an additional 64,551 shares during the period. Royce & Associates LP acquired a new stake in Fred's during the 4th quarter valued at $3,498,000. Schwab Charles Investment Management Inc. raised its stake in Fred's by 16.8% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 788,499 shares of the company’s stock valued at $3,194,000 after purchasing an additional 113,168 shares during the period. FrontFour Capital Group LLC acquired a new stake in Fred's during the 3rd quarter valued at $2,471,000. Finally, California Public Employees Retirement System raised its stake in Fred's by 26.1% during the 4th quarter. California Public Employees Retirement System now owns 328,439 shares of the company’s stock valued at $1,330,000 after purchasing an additional 67,895 shares during the period.

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About Fred's

Fred’s, Inc (Fred’s) is engaged in the sale of general merchandise through its retail discount stores and full service pharmacies. The Company sells general merchandise to its over 20 franchisees. The Company 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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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