FRP (NASDAQ:FRPH) Stock Passes Above 200-Day Moving Average – Here’s Why

FRP Holdings, Inc. (NASDAQ:FRPH) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.93 and traded as high as $24.65. FRP shares last traded at $24.55, with a volume of 58,559 shares traded.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen raised FRP from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of FRP in a research note on Friday, March 27th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has a consensus rating of “Sell”.

FRP Stock Down 2.4%

The stock has a market cap of $468.90 million, a PE ratio of 611.65 and a beta of 0.52. The business has a 50 day moving average price of $22.61 and a 200 day moving average price of $22.94.

FRP (NASDAQ:FRPH) last posted its earnings results on Tuesday, May 12th. The financial services provider reported ($0.04) EPS for the quarter. The business had revenue of $10.59 million for the quarter. FRP had a net margin of 2.16% and a return on equity of 0.29%.

Hedge Funds Weigh In On FRP

Several large investors have recently modified their holdings of FRPH. UBS Group AG increased its stake in FRP by 2,000.4% during the fourth quarter. UBS Group AG now owns 143,499 shares of the financial services provider’s stock worth $3,270,000 after purchasing an additional 136,667 shares during the period. Marshall Wace LLP acquired a new position in shares of FRP in the fourth quarter valued at approximately $1,405,000. Goldman Sachs Group Inc. grew its holdings in shares of FRP by 59.6% in the first quarter. Goldman Sachs Group Inc. now owns 120,192 shares of the financial services provider’s stock valued at $3,434,000 after purchasing an additional 44,874 shares in the last quarter. Teton Advisors LLC purchased a new stake in FRP during the 3rd quarter worth approximately $853,000. Finally, Jane Street Group LLC lifted its holdings in FRP by 64.0% during the 4th quarter. Jane Street Group LLC now owns 57,128 shares of the financial services provider’s stock worth $1,302,000 after buying an additional 22,293 shares in the last quarter. Institutional investors and hedge funds own 45.42% of the company’s stock.

FRP Company Profile

FRP Holdings, Inc (NASDAQ: FRPH) is an industrial services holding company that provides asset integrity and life-extension solutions to heavy-industry clients. Through its operating subsidiaries, FRP offers a broad suite of non-destructive testing (NDT), inspection services, mechanical maintenance, protective coatings, thermal spray and surface-preparation services. These offerings help clients maintain and extend the service life of critical equipment and infrastructure across multiple sectors.

The company’s core activities include ultrasonic, radiographic and magnetic-particle testing, site-based inspections, welding and fabrication support, and specialized coating applications designed to withstand extreme environments.