L.B. Foster (FSTR) Lifted to “Buy” at ValuEngine

L.B. Foster (NASDAQ:FSTR) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Tuesday, ValuEngine reports.

Other equities analysts also recently issued reports about the stock. Zacks Investment Research raised shares of L.B. Foster from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Tuesday, May 7th. B. Riley set a $30.00 price objective on shares of L.B. Foster and gave the company a “buy” rating in a report on Tuesday, March 19th.

FSTR opened at $24.99 on Tuesday. The company has a current ratio of 1.88, a quick ratio of 0.82 and a debt-to-equity ratio of 0.78. The firm has a market cap of $253.85 million, a price-to-earnings ratio of 21.36 and a beta of 2.13. L.B. Foster has a 52-week low of $13.91 and a 52-week high of $26.48.

L.B. Foster (NASDAQ:FSTR) last posted its quarterly earnings data on Thursday, May 9th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.22. The business had revenue of $150.47 million for the quarter, compared to the consensus estimate of $132.25 million. L.B. Foster had a negative net margin of 4.21% and a positive return on equity of 11.45%. On average, research analysts anticipate that L.B. Foster will post 1.94 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the business. BNP Paribas Arbitrage SA lifted its holdings in L.B. Foster by 676.8% during the first quarter. BNP Paribas Arbitrage SA now owns 2,113 shares of the basic materials company’s stock valued at $40,000 after purchasing an additional 1,841 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of L.B. Foster in the first quarter worth about $80,000. Ramsey Quantitative Systems lifted its stake in shares of L.B. Foster by 80.2% in the fourth quarter. Ramsey Quantitative Systems now owns 7,144 shares of the basic materials company’s stock worth $114,000 after buying an additional 3,180 shares in the last quarter. Systematic Financial Management LP purchased a new position in shares of L.B. Foster in the first quarter worth about $152,000. Finally, Bank of America Corp DE lifted its stake in shares of L.B. Foster by 10.1% in the fourth quarter. Bank of America Corp DE now owns 15,700 shares of the basic materials company’s stock worth $249,000 after buying an additional 1,444 shares in the last quarter. 66.55% of the stock is currently owned by institutional investors and hedge funds.

About L.B. Foster

L.B. Foster Company manufactures and distributes products and services for the transportation and energy infrastructure worldwide. Its Rail Products and Services segment offers new rail to passenger and short line freight railroads, industrial companies, and rail contractors; used rails; rail accessories, including track spikes, bolts, angle bars, and other products; power rail, direct fixation fasteners, coverboards, and other accessories; and trackwork products, as well as engineers and fabricates insulated rail joints and related accessories.

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