Analyst Target Update on Fred's, Inc. (NASDAQ:FRED)

During the past trading session, shares of Fred's, Inc. (NASDAQ:FRED) traded -1.63%. Covering analysts are predicting the stock to move to $9.40 within the next year. Depending on the analyst, target price projections may differ widely. This target price is a consensus number based on polled analysts by Thomson Reuters. 

Wall Street analysts have the ability to use various metrics to help calculate target projections. A commonly used metric is a company’s P/E Ratio. This calculation stems from dividing the current share price by the projected earnings per share. At the time of this writing, Fred’s, Inc. has a price to earnings ratio of N/A. Investors may also evaluate a company’s PEG or price to earnings growth ratio. The PEG ratio represents the ratio of the price to earnings to the anticipated future growth rate of the company. If a company has a PEG Ratio below one, it may be viewed as undervalued. If a company has a PEG Ratio above one, it may indicate that the company is overvalued. A PEG Ratio near one may be seen as fair value. The stock presently has a PEG Ratio of -2.79.

Taking a brief view of stock performance, we see that company shares are currently trading $0.62 off the 50-day moving average of $9.05 and $-2.78 off of the 200-day moving average of $12.45. The stock has been recently recorded -43.35% off of the 52-week high of 17.07 and +22.64% away from the 52-week low of 7.89. Tracking the stock price relative to moving averages and highs and lows for the year may help evaluate the future value of the stock.