Friedman Industries Inc (NYSEAMERICAN: FRD) stock enjoyed a major increase of 10.6% on 7/16/24. The shares closed at $18.29. Moreover, this advance was accompanied by exceptionally high trading volume at 296% of normal. Relative to the market the stock has been exceptionally strong over the last nine months and has risen 26.1% during the last week.
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 82 and a very high Power Rating of 89, with the Highest Value Trend Rating the result.
Rating Review
In light of this very positive price change we are reviewing our current Overall Rating of A. This review will be completed in the next several days.
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