Wall Street Zen Upgrades L.B. Foster (NASDAQ:FSTR) to Buy

by · The Cerbat Gem

Wall Street Zen upgraded shares of L.B. Foster (NASDAQ:FSTR – Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

L.B. Foster Trading Up 2.3%

NASDAQ:FSTR opened at $23.09 on Friday. L.B. Foster has a 1-year low of $17.16 and a 1-year high of $29.77. The business’s 50-day moving average price is $22.49 and its two-hundred day moving average price is $21.81. The company has a current ratio of 2.53, a quick ratio of 1.43 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $244.75 million, a price-to-earnings ratio of 6.95 and a beta of 0.98.

L.B. Foster (NASDAQ:FSTR – Get Free Report) last released its quarterly earnings results on Monday, August 11th. The basic materials company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.25). The business had revenue of $143.56 million for the quarter, compared to analyst estimates of $147.76 million. L.B. Foster had a return on equity of 3.64% and a net margin of 7.19%. On average, equities analysts expect that L.B. Foster will post 1.16 earnings per share for the current year.

Institutional Investors Weigh In On L.B. Foster

A number of hedge funds have recently modified their holdings of the business. Brandes Investment Partners LP raised its position in shares of L.B. Foster by 17.1% during the second quarter. Brandes Investment Partners LP now owns 1,179,015 shares of the basic materials company’s stock worth $25,785,000 after purchasing an additional 172,492 shares during the period. Gamco Investors INC. ET AL raised its position in shares of L.B. Foster by 2.0% during the second quarter. Gamco Investors INC. ET AL now owns 950,272 shares of the basic materials company’s stock worth $20,782,000 after purchasing an additional 18,272 shares during the period. Geode Capital Management LLC raised its position in shares of L.B. Foster by 7.4% during the second quarter. Geode Capital Management LLC now owns 238,041 shares of the basic materials company’s stock worth $5,207,000 after purchasing an additional 16,320 shares during the period. Minerva Advisors LLC raised its position in shares of L.B. Foster by 5.2% during the second quarter. Minerva Advisors LLC now owns 83,965 shares of the basic materials company’s stock worth $1,831,000 after purchasing an additional 4,167 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of L.B. Foster by 15.2% during the second quarter. Ameriprise Financial Inc. now owns 52,527 shares of the basic materials company’s stock worth $1,149,000 after buying an additional 6,920 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.

About L.B. Foster

(Get Free Report)

L.B. Foster Company provides engineered and manufactured products and services for the building and infrastructure projects in the United States, Canada, the United Kingdom, and internationally. It operates through two segments: Rail, Technologies, and Services; and Infrastructure Solutions. The Rail, Technologies, and Services segment offers new rail to passenger and short line freight railroads, industrial companies, and rail contractors, as well as used rails; rail accessories, such as rack spikes, bolts, angle bars, tie plates, and other products; insulated rail joints and related accessories; fixation fasteners, coverboards, and special accessories; and trackwork products.

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