L.B. Foster (NASDAQ:FSTR) Price Target Lowered to $21.00 at B. Riley

L.B. Foster (NASDAQ:FSTR) had its price objective trimmed by B. Riley from $27.00 to $21.00 in a research report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the basic materials company’s stock. B. Riley also issued estimates for L.B. Foster’s Q3 2024 earnings at $0.52 EPS, Q4 2024 earnings at $0.31 EPS, FY2024 earnings at $1.17 EPS and FY2025 earnings at $1.86 EPS.

Several other equities analysts also recently commented on FSTR. StockNews.com downgraded L.B. Foster from a strong-buy rating to a buy rating in a research report on Wednesday. Singular Research upgraded L.B. Foster to a strong-buy rating in a research report on Monday, August 12th.

L.B. Foster Price Performance

Shares of FSTR stock opened at $18.90 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 2.17 and a debt-to-equity ratio of 0.54. L.B. Foster has a twelve month low of $14.23 and a twelve month high of $30.77. The company has a market cap of $207.22 million, a P/E ratio of 25.89 and a beta of 0.86. The business has a fifty day simple moving average of $21.82 and a 200 day simple moving average of $24.12.

L.B. Foster (NASDAQ:FSTR) last announced its quarterly earnings data on Tuesday, August 6th. The basic materials company reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.16). The business had revenue of $140.80 million for the quarter, compared to the consensus estimate of $137.36 million. L.B. Foster had a return on equity of 3.19% and a net margin of 1.46%. During the same quarter in the prior year, the company earned $0.32 earnings per share. On average, sell-side analysts forecast that L.B. Foster will post 1.4 EPS for the current fiscal year.

Insider Activity

In related news, Director Raymond T. Betler purchased 5,000 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was bought at an average price of $17.62 per share, with a total value of $88,100.00. Following the completion of the purchase, the director now owns 30,893 shares in the company, valued at approximately $544,334.66. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO William M. Thalman bought 2,500 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The shares were bought at an average price of $16.79 per share, for a total transaction of $41,975.00. Following the transaction, the chief financial officer now directly owns 58,806 shares of the company’s stock, valued at $987,352.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Raymond T. Betler purchased 5,000 shares of L.B. Foster stock in a transaction on Thursday, August 8th. The stock was bought at an average price of $17.62 per share, with a total value of $88,100.00. Following the completion of the acquisition, the director now directly owns 30,893 shares of the company’s stock, valued at approximately $544,334.66. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 8,620 shares of company stock valued at $149,231. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On L.B. Foster

A hedge fund recently raised its stake in L.B. Foster stock. Lazard Asset Management LLC increased its position in shares of L.B. Foster (NASDAQ:FSTR) by 760.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,789 shares of the basic materials company’s stock after buying an additional 1,581 shares during the quarter. Lazard Asset Management LLC’s holdings in L.B. Foster were worth $48,000 at the end of the most recent quarter. 80.63% of the stock is currently owned by hedge funds and other institutional investors.

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.