L.B. Foster (NASDAQ:FSTR) Rating Lowered to “Strong Sell” at Zacks Research

L.B. Foster (NASDAQ:FSTR) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday,Zacks.com reports.

Several other analysts have also issued reports on FSTR. Weiss Ratings reissued a “hold (c-)” rating on shares of L.B. Foster in a research report on Monday, December 29th. Singular Research upgraded shares of L.B. Foster to a “moderate buy” rating in a research note on Monday, November 17th. Wall Street Zen upgraded L.B. Foster from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 14th. Finally, B. Riley Financial boosted their price objective on L.B. Foster from $27.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $32.00.

L.B. Foster Stock Performance

NASDAQ:FSTR opened at $29.50 on Wednesday. The company has a market capitalization of $306.59 million, a P/E ratio of 42.75 and a beta of 0.99. The business has a fifty day simple moving average of $29.85 and a two-hundred day simple moving average of $27.80. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.21 and a quick ratio of 1.21. L.B. Foster has a 1 year low of $17.16 and a 1 year high of $32.63.

L.B. Foster (NASDAQ:FSTR) last announced its quarterly earnings data 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). L.B. Foster had a return on equity of 4.33% and a net margin of 1.40%.The firm had revenue of $160.37 million during the quarter, compared to analysts’ expectations of $158.83 million. On average, analysts expect that L.B. Foster will post 1.16 earnings per share for the current year.

Insider Activity

In related news, major shareholder Aron R. English sold 13,512 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $26.79, for a total transaction of $361,986.48. Following the completion of the transaction, the insider directly owned 1,191,046 shares in the company, valued at $31,908,122.34. The trade was a 1.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold a total of 73,350 shares of company stock valued at $1,970,953 in the last quarter. Company insiders own 4.70% of the company’s stock.

Institutional Trading of L.B. Foster

Several institutional investors and hedge funds have recently modified their holdings of the business. Brandes Investment Partners LP grew its holdings 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 in the last quarter. Redmont Wealth Advisors LLC purchased a new stake in L.B. Foster in the third quarter valued at approximately $738,000. Minerva Advisors LLC lifted its position in 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 valued at $1,831,000 after purchasing an additional 4,167 shares during the last quarter. Envestnet Asset Management Inc. lifted its position 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 valued at $292,000 after purchasing an additional 3,030 shares during the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in L.B. Foster by 2.0% in the 2nd quarter. Gamco Investors INC. ET AL now owns 950,272 shares of the basic materials company’s stock worth $20,782,000 after buying an additional 18,272 shares in the last quarter. Hedge funds and other institutional investors own 80.63% of the company’s stock.

L.B. Foster Company Profile

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.