L.B. Foster (NASDAQ:FSTR) Shares Pass Above 200-Day Moving Average - Here's What Happened

Key Points

• L.B. Foster Company (NASDAQ:FSTR) has surpassed its 200-day moving average, trading at $22.66 with a volume of 18,103 shares on Tuesday.
• Wall Street analysts upgraded L.B. Foster's rating from "hold" to "buy", indicating positive sentiment about the stock's potential.
• L.B. Foster reported earnings of ($0.20) per share for the previous quarter, falling short of the expected $0.01, alongside lower-than-anticipated revenues of $97.79 million.

L.B. Foster Company (NASDAQ:FSTR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $22.16 and traded as high as $23.16. L.B. Foster shares last traded at $22.66, with a volume of 18,103 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen raised L.B. Foster from a "hold" rating to a "buy" rating in a report on Friday, May 16th.

L.B. Foster Stock Performance

The firm has a 50-day moving average of $22.01 and a two-hundred day moving average of $22.09. The company has a quick ratio of 1.29, a current ratio of 2.57 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $233.16 million, a PE ratio of 6.67 and a beta of 0.98.

L.B. Foster (NASDAQ:FSTR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The basic materials company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.21). The company had revenue of $97.79 million for the quarter, compared to analysts' expectations of $114.40 million. L.B. Foster had a net margin of 7.22% and a return on equity of 3.76%. Research analysts anticipate that L.B. Foster Company will post 1.16 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. First Horizon Advisors Inc. raised its position in L.B. Foster by 250.1% during the second quarter. First Horizon Advisors Inc. now owns 1,348 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 963 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of L.B. Foster by 197.2% in the fourth quarter. BNP Paribas Financial Markets now owns 6,368 shares of the basic materials company's stock valued at $171,000 after buying an additional 4,225 shares in the last quarter. Marion Wealth Management purchased a new stake in shares of L.B. Foster in the second quarter valued at approximately $210,000. Lazard Asset Management LLC purchased a new stake in shares of L.B. Foster in the fourth quarter valued at approximately $349,000. Finally, Envestnet Asset Management Inc. increased its position in shares of L.B. Foster by 29.3% in the second quarter. Envestnet Asset Management Inc. now owns 13,358 shares of the basic materials company's stock valued at $292,000 after buying an additional 3,030 shares in the last quarter. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

About L.B. Foster

L.B. Foster Company provides engineered and manufactured products and services for the building and infrastructure projects in the United States, Canada, the United Kingdom, and internationally. It operates through two segments: Rail, Technologies, and Services; and Infrastructure Solutions. The Rail, Technologies, and Services segment offers new rail to passenger and short line freight railroads, industrial companies, and rail contractors, as well as used rails; rail accessories, such as rack spikes, bolts, angle bars, tie plates, and other products; insulated rail joints and related accessories; fixation fasteners, coverboards, and special accessories; and trackwork products.