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

Zacks Investment Research cut shares of L.B. Foster (NASDAQ:FSTR) from a strong-buy rating to a hold rating in a research report report published on Monday, 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. “

Other research analysts have also recently issued reports about the stock. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a report on Thursday, July 4th. B. Riley reiterated a neutral rating on shares of Finisar in a report on Friday, June 14th. Finally, ValuEngine cut shares of WideOpenWest from a hold rating to a sell rating in a report on Friday, June 28th.

Shares of L.B. Foster stock opened at $26.60 on Monday. The company has a current ratio of 1.88, a quick ratio of 0.85 and a debt-to-equity ratio of 0.78. L.B. Foster has a 1 year low of $13.91 and a 1 year high of $27.74. The business’s 50-day simple moving average is $24.96. The company has a market cap of $284.85 million, a PE ratio of 22.74 and a beta of 1.83.

L.B. Foster (NASDAQ:FSTR) last issued its earnings results on Thursday, May 9th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.22. L.B. Foster had a negative net margin of 4.21% and a positive return on equity of 11.45%. The company had revenue of $150.47 million for the quarter, compared to analysts’ expectations of $132.25 million. Research analysts predict that L.B. Foster will post 1.94 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Northern Trust Corp boosted its holdings in shares of L.B. Foster by 0.8% in the 4th quarter. Northern Trust Corp now owns 122,962 shares of the basic materials company’s stock valued at $1,955,000 after buying an additional 1,025 shares in the last quarter. Segall Bryant & Hamill LLC boosted its holdings in shares of L.B. Foster by 31.0% in the 4th quarter. Segall Bryant & Hamill LLC now owns 30,208 shares of the basic materials company’s stock valued at $480,000 after buying an additional 7,156 shares in the last quarter. Rutabaga Capital Management LLC MA bought a new stake in shares of L.B. Foster in the 1st quarter valued at about $1,391,000. Bragg Financial Advisors Inc boosted its holdings in shares of L.B. Foster by 10.4% in the 1st quarter. Bragg Financial Advisors Inc now owns 97,710 shares of the basic materials company’s stock valued at $1,839,000 after buying an additional 9,203 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of L.B. Foster by 1.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 662,448 shares of the basic materials company’s stock valued at $10,533,000 after buying an additional 11,863 shares in the last quarter. Institutional investors and hedge funds own 68.35% 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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