Zacks Research Upgrades L.B. Foster (NASDAQ:FSTR) to Hold

Key Points

• Zacks Research upgraded L.B. Foster from a "strong sell" to a "hold" rating, indicating improved prospects for the stock.
• The stock has seen a 1.6% increase recently and has a market cap of $281.43 million, with a consensus target price of $25.00.
• Hedge funds have increased their stakes in L.B. Foster, with notable acquisitions highlighting a shift in investor sentiment toward the company.

L.B. Foster (NASDAQ:FSTR - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a note issued to investors on Monday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. Wall Street Zen raised shares of L.B. Foster from a "hold" rating to a "buy" rating in a research note on Saturday, September 13th. Weiss Ratings reissued a "hold (c)" rating on shares of L.B. Foster in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, L.B. Foster has an average rating of "Hold" and a consensus target price of $25.00.

L.B. Foster Stock Up 1.6%

Shares of NASDAQ FSTR opened at $26.55 on Monday. L.B. Foster has a 12-month low of $17.16 and a 12-month high of $29.77. The stock has a market cap of $281.43 million, a PE ratio of 8.00 and a beta of 0.96. The company has a current ratio of 2.53, a quick ratio of 1.43 and a debt-to-equity ratio of 0.46. The company has a 50-day moving average of $25.70 and a 200 day moving average of $22.41.

L.B. Foster (NASDAQ:FSTR - Get Free Report) last announced its quarterly earnings data on Monday, August 11th. The basic materials company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.25). L.B. Foster had a net margin of 7.19% and a return on equity of 3.64%. The business had revenue of $143.56 million for the quarter, compared to analysts' expectations of $147.76 million. L.B. Foster has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that L.B. Foster will post 1.16 EPS for the current fiscal year.

Hedge Funds Weigh In On L.B. Foster

Hedge funds have recently made changes to their positions in the stock. State of Wyoming acquired a new stake in L.B. Foster during the 2nd quarter worth approximately $122,000. Tower Research Capital LLC TRC lifted its holdings in L.B. Foster by 189.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,131 shares of the basic materials company's stock worth $47,000 after buying an additional 1,395 shares in the last quarter. Bridgeway Capital Management LLC lifted its holdings in L.B. Foster by 161.7% during the 2nd quarter. Bridgeway Capital Management LLC now owns 51,285 shares of the basic materials company's stock worth $1,122,000 after buying an additional 31,685 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in L.B. Foster by 15.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 52,527 shares of the basic materials company's stock worth $1,149,000 after buying an additional 6,920 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in L.B. Foster by 2.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 950,272 shares of the basic materials company's stock worth $20,782,000 after buying an additional 18,272 shares in the last quarter. Hedge funds and other institutional investors own 80.63% of the company's stock.

L.B. Foster Company Profile

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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