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

L.B. Foster (NASDAQ:FSTR) had its price target decreased by B. Riley from $27.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. B. Riley 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.

A number of other research firms have also weighed in on FSTR. Singular Research raised L.B. Foster to a strong-buy rating in a research report on Monday, August 12th. StockNews.com lowered L.B. Foster from a strong-buy rating to a buy rating in a research report on Wednesday.

L.B. Foster Trading Up 1.7 %

FSTR opened at $18.90 on Wednesday. The stock has a market cap of $207.22 million, a PE ratio of 25.89 and a beta of 0.86. The company has a quick ratio of 1.15, a current ratio of 2.17 and a debt-to-equity ratio of 0.54. The business has a 50 day moving average of $21.82 and a 200-day moving average of $24.12. L.B. Foster has a 52 week low of $14.23 and a 52 week high of $30.77.

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

Insiders Place Their Bets

In other L.B. Foster news, Director Raymond T. Betler bought 5,000 shares of L.B. Foster stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $17.62 per share, with a total value of $88,100.00. Following the acquisition, the director now owns 30,893 shares in the company, valued at $544,334.66. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other L.B. Foster news, Director Raymond T. Betler bought 5,000 shares of L.B. Foster stock in a transaction on Thursday, August 8th. The stock was acquired at an average price of $17.62 per share, with a total value of $88,100.00. Following the acquisition, the director now owns 30,893 shares in the company, valued at $544,334.66. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO William M. Thalman bought 2,500 shares of L.B. Foster stock in a transaction on Thursday, August 8th. The stock was acquired at an average cost of $16.79 per share, with a total value of $41,975.00. Following the acquisition, the chief financial officer now owns 58,806 shares in the company, valued at approximately $987,352.74. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 8,620 shares of company stock valued at $149,231. Corporate 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 lifted its position in L.B. Foster (NASDAQ:FSTR) by 760.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,789 shares of the basic materials company’s stock after buying an additional 1,581 shares during the period. Lazard Asset Management LLC’s holdings in L.B. Foster were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 80.63% of the stock is currently owned by 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.