L.B. Foster (NASDAQ:FSTR) Upgraded to Buy at Wall Street Zen

L.B. Foster (NASDAQ:FSTR) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Saturday.

L.B. Foster Stock Down 4.3%

Shares of FSTR stock opened at $22.56 on Friday. L.B. Foster has a 1-year low of $17.16 and a 1-year high of $29.77. The stock’s fifty day moving average price is $22.41 and its 200 day moving average price is $21.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.53 and a quick ratio of 1.29. The company has a market cap of $239.14 million, a price-to-earnings ratio of 6.80 and a beta of 0.98.

L.B. Foster (NASDAQ:FSTR) last issued its quarterly earnings results on Monday, August 11th. The basic materials company reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.25). L.B. Foster had a return on equity of 3.64% and a net margin of 7.19%. The firm had revenue of $143.56 million for the quarter, compared to analyst estimates of $147.76 million. On average, research analysts expect that L.B. Foster will post 1.16 earnings per share for the current fiscal year.

Hedge Funds Weigh In On L.B. Foster

Several institutional investors and hedge funds have recently modified their holdings of the stock. First Horizon Advisors Inc. raised its holdings in L.B. Foster by 250.1% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,348 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 963 shares during the period. Tower Research Capital LLC TRC raised its holdings in L.B. Foster by 189.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,131 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 1,395 shares during the period. BNP Paribas Financial Markets raised its holdings in L.B. Foster by 197.2% in the 4th quarter. BNP Paribas Financial Markets now owns 6,368 shares of the basic materials company’s stock worth $171,000 after purchasing an additional 4,225 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in L.B. Foster in the 2nd quarter worth about $201,000. Finally, Marion Wealth Management acquired a new position in L.B. Foster in the 2nd quarter worth about $210,000. Institutional investors and hedge funds own 80.63% of the company’s stock.

L.B. Foster Company Profile

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.