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

Zacks Investment Research downgraded shares of L.B. Foster (NASDAQ:FSTR) from a strong-buy rating to a hold rating in a report published on Monday morning, 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 equities analysts have also issued research reports about the stock. BidaskClub upgraded shares of Zynerba Pharmaceuticals from a hold rating to a buy rating in a research report on Thursday, July 4th. ValuEngine lowered shares of WideOpenWest from a hold rating to a sell rating in a research report on Friday, June 28th. Finally, B. Riley restated a neutral rating on shares of Finisar in a research report on Friday, June 14th.

FSTR opened at $26.60 on Monday. The company has a market capitalization of $284.85 million, a price-to-earnings ratio of 22.74 and a beta of 1.83. L.B. Foster has a 1-year low of $13.91 and a 1-year high of $27.74. The stock has a 50 day moving average price of $24.96. 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 (NASDAQ:FSTR) last issued its earnings results on Thursday, May 9th. The basic materials company reported $0.35 earnings per share for the quarter, topping the Zacks’ 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 firm had revenue of $150.47 million during the quarter, compared to analyst estimates of $132.25 million. Equities research analysts expect that L.B. Foster will post 1.94 EPS for the current year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its stake in L.B. Foster by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 662,448 shares of the basic materials company’s stock valued at $10,533,000 after purchasing an additional 11,863 shares in the last quarter. BlackRock Inc. raised its stake in L.B. Foster by 2.7% during the fourth quarter. BlackRock Inc. now owns 638,964 shares of the basic materials company’s stock valued at $10,161,000 after purchasing an additional 16,764 shares in the last quarter. Kennedy Capital Management Inc. raised its stake in L.B. Foster by 4.1% during the first quarter. Kennedy Capital Management Inc. now owns 264,046 shares of the basic materials company’s stock valued at $4,969,000 after purchasing an additional 10,483 shares in the last quarter. Northern Trust Corp raised its stake in L.B. Foster by 0.8% during the fourth quarter. Northern Trust Corp now owns 122,962 shares of the basic materials company’s stock valued at $1,955,000 after purchasing an additional 1,025 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in L.B. Foster by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 106,845 shares of the basic materials company’s stock valued at $1,698,000 after purchasing an additional 5,522 shares in the last quarter. 68.35% of the stock is currently owned by institutional investors.

L.B. Foster Company Profile

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.

Read More: What does a neutral rating on stocks mean?

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