MKM Partners Reiterates a Hold Rating on Fred’sBy Austin Angelo
In a report issued on November 3, Patrick Mckeever from MKM Partners reiterated a Hold rating on Fred’s (NASDAQ: FRED), with a price target of $9. The company’s shares closed yesterday at $8.06, close to its 52-week low of $7.89.
According to TipRanks.com, Mckeever is a 4-star analyst with an average return of 4.2% and a 61.1% success rate. Mckeever covers the Services sector, focusing on stocks such as Dick’s Sporting Goods, Wal-Mart Stores, and Dollar General.
Currently, the analyst consensus on Fred’s is Hold and the average price target is $9, representing an 11.7% upside.
In a report issued on November 1, Deutsche Bank also reiterated a Hold rating on the stock with a $9 price target.
The company has a one year high of $17.14 and a one year low of $7.89. Currently, Fred’s has an average volume of 226.4K.
Based on the recent corporate insider activity of 77 insiders, corporate insider sentiment is negative on the stock. Most recently, in September 2016, Michael Hayes, a Director at FRED sold 9,369 shares for a total of $95,283.
Fred’s, Inc. engages in the operation of general merchandise stores. It manages express and franchised stores, full service pharmacies and specialty pharmacy facility. It offers pharmacy, consumables, household goods and softlines, and franchise products. The company was founded in 1947 and is headquartered in Memphis, TN.