Zacks: L.B. Foster Co (NASDAQ:FSTR) Receives Average Rating of “Strong Buy” from Brokerages

L.B. Foster Co (NASDAQ:FSTR) has earned a consensus broker rating score of 1.00 (Strong Buy) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One equities research analyst has rated the stock with a strong buy rating.

Brokers have set a 12 month consensus price objective of $30.00 for the company and are anticipating that the company will post $0.52 earnings per share for the current quarter, according to Zacks. Zacks has also given L.B. Foster an industry rank of 168 out of 256 based on the ratings given to its competitors.

FSTR has been the topic of several analyst reports. 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. Zacks Investment Research raised 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 cut shares of L.B. Foster from a “hold” rating to a “sell” rating in a research note on Monday, August 12th. Finally, BidaskClub lowered shares of L.B. Foster from a “hold” rating to a “sell” rating in a report on Thursday, August 8th.

A number of hedge funds have recently added to or reduced their stakes in FSTR. Bank of America Corp DE raised its holdings in shares of L.B. Foster by 1.9% during the second quarter. Bank of America Corp DE now owns 27,340 shares of the basic materials company’s stock valued at $747,000 after purchasing an additional 505 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of 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 during the period. Northern Trust Corp raised 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 valued at $3,393,000 after purchasing an additional 1,872 shares during the period. Bank of New York Mellon Corp raised 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 valued at $1,387,000 after purchasing an additional 2,429 shares during the period. Finally, Public Employees Retirement System of Ohio raised 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 valued at $172,000 after purchasing an additional 3,199 shares during the period. Institutional investors and hedge funds own 74.00% of the company’s stock.

Shares of L.B. Foster stock traded up $0.27 during trading on Wednesday, hitting $22.01. The company’s stock had a trading volume of 47,994 shares, compared to its average volume of 26,413. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.04 and a quick ratio of 0.95. L.B. Foster has a 52 week low of $13.91 and a 52 week high of $27.80. The stock has a market cap of $231.86 million, a price-to-earnings ratio of 11.35 and a beta of 1.80. The stock has a 50-day moving average price of $21.63 and a two-hundred day moving average price of $22.44.

L.B. Foster (NASDAQ:FSTR) last issued its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.90 earnings per share for the quarter, topping the 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 company had revenue of $200.93 million for the quarter, compared to analysts’ expectations of $178.85 million. On average, equities analysts predict that L.B. Foster will post 2.18 EPS for the current fiscal year.

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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