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

FRP Holdings, Inc. (NASDAQ:FRPH)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.00 and traded as high as $25.41. FRP shares last traded at $25.16, with a volume of 50,276 shares changing hands.

Wall Street Analyst Weigh In

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

FRP Stock Up 0.7%

The company’s 50 day simple moving average is $22.92 and its 200-day simple moving average is $23.00. The firm has a market cap of $482.32 million, a P/E ratio of 629.16 and a beta of 0.51.

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

Hedge Funds Weigh In On FRP

Hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its position in FRP by 36.8% in the 1st quarter. Bank of America Corp DE now owns 21,982 shares of the financial services provider’s stock valued at $481,000 after acquiring an additional 5,910 shares during the last quarter. Quantinno Capital Management LP lifted its position in shares of FRP by 13.5% during the first quarter. Quantinno Capital Management LP now owns 80,364 shares of the financial services provider’s stock worth $1,758,000 after purchasing an additional 9,560 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of FRP by 30.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,555 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 1,306 shares during the last quarter. HB Wealth Management LLC boosted its stake in shares of FRP by 3.7% during the first quarter. HB Wealth Management LLC now owns 84,118 shares of the financial services provider’s stock valued at $1,841,000 after purchasing an additional 3,026 shares during the period. Finally, AQR Capital Management LLC boosted its stake in shares of FRP by 58.0% during the fourth quarter. AQR Capital Management LLC now owns 34,940 shares of the financial services provider’s stock valued at $796,000 after purchasing an additional 12,823 shares during the period. Institutional investors 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.