L.B. Foster (NASDAQ:FSTR) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of L.B. Foster (NASDAQ:FSTR) from a hold rating to a sell rating in a report issued on Monday, ValuEngine reports.

Other equities research analysts also recently issued research reports about the company. B. Riley set a $30.00 price objective on L.B. Foster and gave the company a buy rating in a report on Friday, June 14th. BidaskClub downgraded L.B. Foster from a hold rating to a sell rating in a report on Thursday, August 8th. Finally, Zacks Investment Research upgraded L.B. Foster from a hold rating to a buy rating and set a $30.00 price objective for the company in a report on Wednesday, July 31st.

Shares of FSTR opened at $21.51 on Monday. The company has a quick ratio of 0.95, a current ratio of 2.04 and a debt-to-equity ratio of 0.72. L.B. Foster has a 12-month low of $13.91 and a 12-month high of $27.80. The firm has a market capitalization of $239.91 million, a price-to-earnings ratio of 18.38 and a beta of 1.79. The firm’s fifty day moving average price is $25.44.

L.B. Foster (NASDAQ:FSTR) last released its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.39. The business had revenue of $200.93 million during the quarter, compared to the consensus estimate of $178.85 million. L.B. Foster had a positive return on equity of 15.15% and a negative net margin of 3.36%. As a group, equities analysts predict that L.B. Foster will post 2.18 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSTR. Northern Trust Corp boosted its holdings in shares of L.B. Foster by 1.5% during the second quarter. Northern Trust Corp now owns 124,083 shares of the basic materials company’s stock worth $3,393,000 after purchasing an additional 1,872 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of L.B. Foster by 103.9% during the second quarter. Public Employees Retirement System of Ohio now owns 6,279 shares of the basic materials company’s stock worth $172,000 after purchasing an additional 3,199 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of L.B. Foster by 23.8% during the second quarter. Renaissance Technologies LLC now owns 713,500 shares of the basic materials company’s stock worth $19,507,000 after purchasing an additional 137,100 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of L.B. Foster by 5.0% during the second quarter. Bank of New York Mellon Corp now owns 50,701 shares of the basic materials company’s stock worth $1,387,000 after purchasing an additional 2,429 shares during the period. Finally, Rutabaga Capital Management LLC MA boosted its holdings in shares of L.B. Foster by 188.6% during the second quarter. Rutabaga Capital Management LLC MA now owns 213,295 shares of the basic materials company’s stock worth $5,831,000 after purchasing an additional 139,387 shares during the period. Institutional investors and hedge funds own 69.76% 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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