L.B. Foster (NASDAQ:FSTR) Upgraded to “Hold” at Zacks Investment Research

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

According to Zacks, “L. B. Foster Company is engaged in the manufacture, fabrication and distribution of rail and trackwork, piling, highway products and tubular products. For rail markets, Foster provides a full line of new and used rail, trackwork and accessories to railroads, mines and industry. Foster also sells and rents steel sheet piling and H-bearing pile for foundation and earth retention requirements for the construction industry. For tubular markets, foster supplies pipe and pipe coatings for pipelines and produces pipe-related products for special markets. “

A number of other brokerages have also recently issued reports on FSTR. B. Riley restated a buy rating and issued a $18.00 price objective on shares of L.B. Foster in a research note on Monday, June 8th. ValuEngine upgraded L.B. Foster from a sell rating to a hold rating in a research report on Wednesday, May 6th.

Shares of L.B. Foster stock opened at $14.06 on Wednesday. L.B. Foster has a 52-week low of $7.96 and a 52-week high of $27.80. The stock’s 50-day simple moving average is $12.61 and its 200 day simple moving average is $14.12. The stock has a market capitalization of $150.58 million, a P/E ratio of 4.05 and a beta of 1.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.87 and a current ratio of 1.93.

L.B. Foster (NASDAQ:FSTR) last announced its quarterly earnings data on Tuesday, May 5th. The basic materials company reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.34 by ($0.52). L.B. Foster had a net margin of 5.84% and a return on equity of 7.67%. The firm had revenue of $128.78 million during the quarter, compared to the consensus estimate of $148.59 million. Equities research analysts forecast that L.B. Foster will post 0.26 EPS for the current fiscal year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of L.B. Foster by 3.2% during the first quarter. Geode Capital Management LLC now owns 140,668 shares of the basic materials company’s stock valued at $1,738,000 after buying an additional 4,409 shares during the period. Sontag Advisory LLC purchased a new position in shares of L.B. Foster during the first quarter worth about $794,000. Goldman Sachs Group Inc. grew its holdings in shares of L.B. Foster by 2.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 30,183 shares of the basic materials company’s stock worth $585,000 after purchasing an additional 751 shares in the last quarter. Citigroup Inc. grew its holdings in shares of L.B. Foster by 62.0% during the first quarter. Citigroup Inc. now owns 3,254 shares of the basic materials company’s stock worth $40,000 after purchasing an additional 1,245 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in shares of L.B. Foster by 4.5% during the first quarter. Two Sigma Advisers LP now owns 29,882 shares of the basic materials company’s stock worth $369,000 after purchasing an additional 1,300 shares in the last quarter. Hedge funds and other institutional investors own 70.48% of the company’s stock.

L.B. Foster Company Profile

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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