Initiates Coverage on Friedman Industries (NYSE:FRD) initiated coverage on shares of Friedman Industries (NYSE:FRDGet Rating) in a research report issued on Thursday. The firm set a “strong-buy” rating on the stock.

NYSE:FRD opened at $9.99 on Thursday. The stock has a 50-day simple moving average of $8.67. The stock has a market capitalization of $68.49 million, a P/E ratio of 2.16 and a beta of 0.68. Friedman Industries has a twelve month low of $7.37 and a twelve month high of $15.63.

Friedman Industries (NYSE:FRDGet Rating) last posted its quarterly earnings results on Monday, February 14th. The company reported ($0.43) earnings per share for the quarter. The business had revenue of $51.66 million during the quarter. Friedman Industries had a return on equity of 36.81% and a net margin of 12.31%.

About Friedman Industries (Get Rating)

Friedman Industries, Incorporated engages in steel processing, pipe manufacturing and processing, and the steel and pipe distribution businesses the United States. It operates in two segments, Coil and Tubular. The Coil segment is involved in the conversion of steel coils into flat sheet and plate steel cut to customer specifications and reselling steel coils.

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