L.B. Foster (NASDAQ:FSTR) Cut to “Buy” at Wall Street Zen

Wall Street Zen downgraded shares of L.B. Foster (NASDAQ:FSTR) from a strong-buy rating to a buy rating in a report issued on Saturday morning.

Several other equities research analysts also recently weighed in on the company. Zacks Research downgraded L.B. Foster from a “hold” rating to a “strong sell” rating in a report on Wednesday, March 4th. Singular Research upgraded shares of L.B. Foster to a “moderate buy” rating in a research report on Monday, November 17th. B. Riley Financial raised their target price on shares of L.B. Foster from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of L.B. Foster in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, L.B. Foster currently has an average rating of “Hold” and a consensus target price of $32.00.

L.B. Foster Stock Down 0.3%

FSTR opened at $28.83 on Friday. L.B. Foster has a 52 week low of $17.16 and a 52 week high of $32.63. The business has a 50 day moving average price of $29.88 and a two-hundred day moving average price of $27.96. The company has a quick ratio of 1.15, a current ratio of 1.87 and a debt-to-equity ratio of 0.24. The company has a market cap of $297.24 million, a PE ratio of 41.78 and a beta of 0.99.

L.B. Foster (NASDAQ:FSTR) last announced its earnings results on Tuesday, March 3rd. The basic materials company reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.66 by ($0.44). The company had revenue of $160.37 million during the quarter, compared to analysts’ expectations of $158.83 million. L.B. Foster had a net margin of 1.40% and a return on equity of 4.32%. As a group, research analysts anticipate that L.B. Foster will post 1.16 EPS for the current year.

Insider Buying and Selling at L.B. Foster

In related news, major shareholder Aron R. English sold 5,124 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $31.99, for a total transaction of $163,916.76. Following the transaction, the insider owned 1,185,922 shares of the company’s stock, valued at $37,937,644.78. This represents a 0.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 63,909 shares of company stock valued at $1,739,217 in the last quarter. 4.70% of the stock is owned by insiders.

Institutional Investors Weigh In On L.B. Foster

Hedge funds and other institutional investors have recently bought and sold shares of the business. Brandes Investment Partners LP boosted its position in shares of L.B. Foster by 17.1% during the 2nd 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 in the last quarter. Teton Advisors LLC purchased a new position in shares of L.B. Foster in the 3rd quarter valued at about $3,767,000. Redmont Wealth Advisors LLC purchased a new position in shares of L.B. Foster in the 3rd quarter valued at about $738,000. Minerva Advisors LLC lifted its stake in shares of L.B. Foster by 5.2% in the second quarter. Minerva Advisors LLC now owns 83,965 shares of the basic materials company’s stock valued at $1,831,000 after purchasing an additional 4,167 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in L.B. Foster by 29.3% during the second quarter. Envestnet Asset Management Inc. now owns 13,358 shares of the basic materials company’s stock worth $292,000 after buying an additional 3,030 shares in the last quarter. Institutional investors and hedge funds own 80.63% of the company’s stock.

About L.B. Foster

L.B. Foster Company is a diversified infrastructure solutions provider offering products and services to the transportation, energy, and construction markets. Founded in 1902 and headquartered in Pittsburgh, Pennsylvania, the company has built a reputation for delivering specialty materials and engineering solutions that support critical infrastructure projects across various industries.

The company’s operations are organized into three primary segments: Rail Products & Services, Construction Products, and Tubular & Energy Products.