L.B. Foster (NASDAQ:FSTR - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Friday.
Separately, B. Riley began coverage on shares of L.B. Foster in a research report on Thursday, March 27th. They issued a "neutral" rating and a $25.00 price target on the stock.
Get Our Latest Stock Report on FSTR
L.B. Foster Trading Up 0.8%
Shares of L.B. Foster stock opened at $19.25 on Friday. The firm's 50 day moving average is $19.75 and its 200 day moving average is $24.05. The firm has a market capitalization of $203.26 million, a PE ratio of 4.95 and a beta of 0.95. L.B. Foster has a 1 year low of $14.23 and a 1 year high of $29.78. The company has a current ratio of 2.27, a quick ratio of 1.30 and a debt-to-equity ratio of 0.37.
L.B. Foster (NASDAQ:FSTR - Get Free Report) last released 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 firm had revenue of $97.79 million for the quarter, compared to the consensus estimate of $114.40 million. L.B. Foster had a return on equity of 6.01% and a net margin of 7.96%. Equities research analysts forecast that L.B. Foster will post 1.16 earnings per share for the current fiscal year.
L.B. Foster declared that its Board of Directors has initiated a stock buyback program on Tuesday, March 4th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 16.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.
Institutional Investors Weigh In On L.B. Foster
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Hillsdale Investment Management Inc. acquired a new stake in L.B. Foster in the 4th quarter valued at $1,784,000. BNP Paribas Financial Markets increased its position in shares of L.B. Foster by 197.2% during the fourth quarter. BNP Paribas Financial Markets now owns 6,368 shares of the basic materials company's stock valued at $171,000 after acquiring an additional 4,225 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of L.B. Foster during the 4th quarter worth $349,000. 80.63% of the stock is owned by institutional investors.
About L.B. Foster
(
Get Free Report)
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.
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