L.B. Foster (NASDAQ:FSTR) Board of Directors Announces Share Repurchase Plan

L.B. Foster (NASDAQ:FSTR) declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, March 4th, RTT News reports. The company plans to repurchase $40.00 million in shares. This repurchase authorization permits the basic materials company to buy up to 16.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently commented on FSTR shares. B. Riley upped their price objective on shares of L.B. Foster from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. StockNews.com raised shares of L.B. Foster from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 8th.

L.B. Foster Stock Down 1.5 %

Shares of NASDAQ:FSTR opened at $22.24 on Thursday. The company has a quick ratio of 1.30, a current ratio of 2.27 and a debt-to-equity ratio of 0.37. L.B. Foster has a 52-week low of $14.23 and a 52-week high of $30.77. The company has a 50 day moving average of $27.20 and a two-hundred day moving average of $24.04. The company has a market capitalization of $240.86 million, a price-to-earnings ratio of 5.72 and a beta of 0.97.

About L.B. Foster

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.