Fred's, Inc. (FRED) was a big mover last session with its shares rising nearly 9% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company as the stock is now trading above the past one month’s volatile price range of $14.82 to $15.42.
This discount retailer of general merchandise has seen one negative estimate revision in the last 30 days. The Zacks Consensus Estimate has also moved lower over the same period. This implies trouble down the road. So make sure to keep an eye on this stock going forward to see if yesterday’s rally can last.
Fred's currently has a Zacks Rank #3 (Hold) while its Earnings ESP is 0.00%.
Investors interested in the retail sector may consider better-ranked stocks like Five Below, Inc. (FIVE), Big Lots Inc. (BIG) and Burlington Stores, Inc. (BURL). All the three stocks bear a Zacks Rank #2 (Buy).
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FRED'S INC (FRED): Free Stock Analysis Report
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