Fred’s (NASDAQ:FRED) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, April 1st, ValuEngine reports.
NASDAQ FRED traded down $0.05 during trading hours on Monday, hitting $1.60. 7,267 shares of the stock were exchanged, compared to its average volume of 389,458. Fred’s has a 12-month low of $1.30 and a 12-month high of $3.58. The company has a debt-to-equity ratio of 1.78, a current ratio of 1.89 and a quick ratio of 0.54.
Fred’s declared that its Board of Directors has authorized a stock repurchase program on Wednesday, January 30th that authorizes the company to buyback 3,500,000 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
Fred’s Company Profile
Fred's, Inc, together with its subsidiaries, sells general merchandise through its retail discount stores and full service pharmacies. The company, through its stores, offers health, beauty, and personal care products; household cleaning supplies, disposable diapers, pet foods, and paper products; and various general merchandise, and food and beverage products to low, middle, and fixed income families located in small- to medium-sized towns.
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To view ValuEngine’s full report, visit ValuEngine’s official website.
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