Short Interest in L.B. Foster Co (NASDAQ:FSTR) Decreases By 16.7%

L.B. Foster Co (NASDAQ:FSTR) was the target of a significant drop in short interest during the month of July. As of July 31st, there was short interest totalling 89,100 shares, a drop of 16.7% from the June 30th total of 106,900 shares. Based on an average trading volume of 57,600 shares, the short-interest ratio is currently 1.5 days. Approximately 0.9% of the shares of the company are short sold.

Several brokerages have recently issued reports on FSTR. BidaskClub downgraded shares of L.B. Foster from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Zacks Investment Research upgraded shares of L.B. Foster from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research note on Wednesday, July 31st. ValuEngine downgraded shares of L.B. Foster from a “hold” rating to a “sell” rating in a research note on Monday. Finally, B. Riley set a $30.00 price objective on shares of L.B. Foster and gave the stock a “buy” rating in a research note on Friday, June 14th.

FSTR traded up $0.59 during trading on Thursday, reaching $21.73. 32,100 shares of the company’s stock were exchanged, compared to its average volume of 46,762. L.B. Foster has a fifty-two week low of $13.91 and a fifty-two week high of $27.80. The company has a quick ratio of 0.95, a current ratio of 2.04 and a debt-to-equity ratio of 0.72. The business has a 50 day moving average price of $25.27 and a 200 day moving average price of $21.95. The company has a market capitalization of $224.30 million, a P/E ratio of 18.57 and a beta of 1.79.

L.B. Foster (NASDAQ:FSTR) last posted its quarterly earnings results on Tuesday, July 30th. The basic materials company reported $0.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.51 by $0.39. L.B. Foster had a negative net margin of 3.36% and a positive return on equity of 15.15%. The firm had revenue of $200.93 million for the quarter, compared to the consensus estimate of $178.85 million. As a group, research analysts forecast that L.B. Foster will post 2.18 EPS for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Renaissance Technologies LLC boosted its stake in 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 buying an additional 137,100 shares in the last quarter. BlackRock Inc. boosted its stake in L.B. Foster by 5.8% during the second quarter. BlackRock Inc. now owns 703,341 shares of the basic materials company’s stock worth $19,229,000 after buying an additional 38,745 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in L.B. Foster by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 662,448 shares of the basic materials company’s stock worth $10,533,000 after buying an additional 11,863 shares in the last quarter. Kennedy Capital Management Inc. boosted its stake in L.B. Foster by 4.1% during the first quarter. Kennedy Capital Management Inc. now owns 264,046 shares of the basic materials company’s stock worth $4,969,000 after buying an additional 10,483 shares in the last quarter. Finally, Rutabaga Capital Management LLC MA boosted its stake in 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 buying an additional 139,387 shares in the last quarter. Hedge funds and other institutional investors own 69.76% of the company’s stock.

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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