L.B. Foster (NASDAQ:FSTR) Rating Increased to Strong-Buy at Zacks Research

Zacks Research upgraded shares of L.B. Foster (NASDAQ:FSTR) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Wall Street Zen lowered L.B. Foster from a “strong-buy” rating to a “buy” rating in a research report on Sunday. B. Riley Financial upped their price objective on L.B. Foster from $27.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. Finally, Weiss Ratings raised L.B. Foster from a “hold (c)” rating to a “hold (c+)” rating in a report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

L.B. Foster Stock Down 2.1%

NASDAQ FSTR opened at $41.62 on Tuesday. The firm has a market cap of $435.29 million, a PE ratio of 40.40 and a beta of 1.15. L.B. Foster has a one year low of $18.66 and a one year high of $43.06. The stock’s 50 day simple moving average is $34.17 and its 200 day simple moving average is $30.67. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.22 and a quick ratio of 1.28.

L.B. Foster (NASDAQ:FSTR) last released its quarterly earnings results on Monday, May 4th. The basic materials company reported $0.14 EPS for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.36. The business had revenue of $121.14 million for the quarter, compared to analyst estimates of $104.30 million. L.B. Foster had a return on equity of 6.36% and a net margin of 1.98%. As a group, sell-side analysts forecast that L.B. Foster will post 1.74 earnings per share for the current fiscal year.

Insider Transactions at L.B. Foster

In other news, major shareholder Aron R. English sold 38,431 shares of the stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $28.05, for a total transaction of $1,077,989.55. Following the completion of the transaction, the insider directly owned 1,027,255 shares in the company, valued at $28,814,502.75. This represents a 3.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 146,950 shares of company stock valued at $4,161,706. 7.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On L.B. Foster

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE grew its holdings in shares of L.B. Foster by 13.3% in the 1st quarter. Bank of America Corp DE now owns 15,941 shares of the basic materials company’s stock valued at $445,000 after acquiring an additional 1,869 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of L.B. Foster by 74.3% in the 1st quarter. Royal Bank of Canada now owns 21,558 shares of the basic materials company’s stock valued at $601,000 after acquiring an additional 9,191 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of L.B. Foster by 8.0% in the 1st quarter. Empowered Funds LLC now owns 16,665 shares of the basic materials company’s stock valued at $465,000 after acquiring an additional 1,232 shares in the last quarter. Hillsdale Investment Management Inc. bought a new position in shares of L.B. Foster in the 1st quarter valued at about $354,000. Finally, Fifth Third Bancorp bought a new position in shares of L.B. Foster in the 1st quarter valued at about $47,000. Institutional investors own 80.63% of the company’s stock.

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.