Extremely important negative changes in investment behavior have recently occurred for Friedman Industries Inc (NYSEAMERICAN: FRD): the stock’s recent price decline challenged its longer term uptrend, the stock fell on very heavy volume, and negative upside/downside volume developed.
Friedman Industries Inc (NYSEAMERICAN: FRD). Marginal negative changes in fundamentals have recently occurred: significant quarterly earnings deceleration occurred.
In light of these highly negative signals we are reviewing our current Overall Rating of A. We would view the shares with caution pending completion of this review in the next several days.
Current PriceTarget Research Rating
FRD’s future returns on capital are forecasted to exceed the cost of capital. Accordingly, the company is expected to continue to be a modest Value Builder.
Friedman Industries has a current Value Trend Rating of A (Highest Rating). With this rating, PTR’s two proprietary measures of a stock’s current attractiveness are providing consistent signals. Friedman Industries has a good Appreciation Score of 79 and a very high Power Rating of 92, and the Highest Value Trend Rating results.
Recent Price Action
On 6/25/24, Friedman Industries Inc (NYSEAMERICAN: FRD) stock suffered a large decline of -7.2%, closing at $14.40. Moreover, trading volume in this decline was exceptionally high at 203% of normal. Relative to the market the stock has been exceptionally strong over the last nine months but has declined -14.6% during the last week.
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