Friedman Industries (NASDAQ:FRD) Stock Rating Lowered by Wall Street Zen

Friedman Industries (NASDAQ:FRD) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research note issued on Saturday.

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Friedman Industries in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy”.

Friedman Industries Stock Performance

Friedman Industries stock opened at $20.24 on Friday. The company’s 50-day moving average price is $20.53 and its 200-day moving average price is $19.26. The company has a quick ratio of 0.98, a current ratio of 3.24 and a debt-to-equity ratio of 0.03. The company has a market cap of $143.91 million, a PE ratio of 12.49 and a beta of 1.54. Friedman Industries has a twelve month low of $12.24 and a twelve month high of $23.50.

Friedman Industries (NASDAQ:FRD) last announced its quarterly earnings results on Monday, November 10th. The company reported $0.32 EPS for the quarter. Friedman Industries had a net margin of 2.25% and a return on equity of 8.55%. The firm had revenue of $152.38 million during the quarter.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of FRD. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Friedman Industries in the second quarter worth approximately $29,000. BNP Paribas Financial Markets grew its position in Friedman Industries by 50.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,712 shares of the company’s stock valued at $37,000 after acquiring an additional 576 shares during the last quarter. State of Wyoming purchased a new stake in Friedman Industries in the first quarter worth $45,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Friedman Industries during the second quarter worth $60,000. Finally, New York State Common Retirement Fund bought a new stake in shares of Friedman Industries during the second quarter worth $103,000. Institutional investors own 33.26% of the company’s stock.

About Friedman Industries

Friedman Industries, Inc is a specialized manufacturer of high-quality steel grating products for industrial and commercial applications. The company’s core offerings include industrial bar gratings, stair treads, trench covers, checkered plates and lighting frames. These products are designed to meet stringent safety and durability requirements in sectors such as oil and gas, power generation, wastewater treatment and infrastructure development.

Friedman Industries serves a broad customer base across North America, providing both standard and custom solutions through its manufacturing facilities in Pennsylvania and California.