L.B. Foster (NASDAQ:FSTR) Downgraded to “Strong Sell” Rating by Zacks Research

L.B. Foster (NASDAQ:FSTR) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued research reports about the company. Singular Research raised L.B. Foster to a “moderate buy” rating in a research note on Monday, November 17th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of L.B. Foster in a research note on Monday, December 29th. Wall Street Zen upgraded L.B. Foster from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 14th. Finally, B. Riley Financial increased their target price on L.B. Foster from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.00.

L.B. Foster Stock Performance

L.B. Foster stock opened at $29.50 on Wednesday. The stock has a market cap of $306.59 million, a PE ratio of 42.75 and a beta of 0.99. The company has a quick ratio of 1.21, a current ratio of 2.21 and a debt-to-equity ratio of 0.33. The business’s 50-day moving average price is $29.85 and its two-hundred day moving average price is $27.80. L.B. Foster has a 12-month low of $17.16 and a 12-month high of $32.63.

L.B. Foster (NASDAQ:FSTR) last released its quarterly earnings results on Tuesday, March 3rd. The basic materials company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.44). L.B. Foster had a return on equity of 4.33% and a net margin of 1.40%.The firm had revenue of $160.37 million for the quarter, compared to the consensus estimate of $158.83 million. As a group, analysts expect that L.B. Foster will post 1.16 earnings per share for the current fiscal year.

Insider Transactions at L.B. Foster

In other news, major shareholder Aron R. English sold 34,025 shares of the company’s stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $26.79, for a total value of $911,529.75. Following the completion of the sale, the insider owned 1,204,558 shares in the company, valued at $32,270,108.82. This represents a 2.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 73,350 shares of company stock worth $1,970,953. 4.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSTR. Brandes Investment Partners LP grew its holdings in shares of L.B. Foster by 17.1% in the second quarter. Brandes Investment Partners LP now owns 1,179,015 shares of the basic materials company’s stock valued at $25,785,000 after acquiring an additional 172,492 shares in the last quarter. Redmont Wealth Advisors LLC bought a new stake in shares of L.B. Foster during the 3rd quarter worth $738,000. Minerva Advisors LLC boosted its holdings in shares of L.B. Foster by 5.2% in the 2nd quarter. Minerva Advisors LLC now owns 83,965 shares of the basic materials company’s stock worth $1,831,000 after buying an additional 4,167 shares during the last quarter. Envestnet Asset Management Inc. grew its position in L.B. Foster by 29.3% during 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 during the period. Finally, Qube Research & Technologies Ltd increased its holdings in L.B. Foster by 20.4% during the third quarter. Qube Research & Technologies Ltd now owns 38,757 shares of the basic materials company’s stock worth $1,045,000 after buying an additional 6,571 shares during the last quarter. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

L.B. Foster Company Profile

L.B. Foster Company is a diversified infrastructure solutions provider offering products and services to the transportation, energy, and construction markets. Founded in 1902 and headquartered in Pittsburgh, Pennsylvania, the company has built a reputation for delivering specialty materials and engineering solutions that support critical infrastructure projects across various industries.

The company’s operations are organized into three primary segments: Rail Products & Services, Construction Products, and Tubular & Energy Products.