L.B. Foster (NASDAQ:FSTR) Downgraded to Strong Sell at Zacks Investment Research

L.B. Foster (NASDAQ:FSTRGet Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Wednesday, 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 recently issued reports about the stock. StockNews.com cut shares of L.B. Foster from a “buy” rating to a “hold” rating in a research report on Monday, May 30th. B. Riley lowered shares of L.B. Foster from a “buy” rating to a “neutral” rating in a report on Monday.

Shares of NASDAQ:FSTR traded up $0.04 during midday trading on Wednesday, hitting $13.21. The stock had a trading volume of 28,167 shares, compared to its average volume of 24,021. The company’s 50-day moving average price is $13.77 and its 200-day moving average price is $14.50. The company has a market capitalization of $143.86 million, a P/E ratio of 42.61 and a beta of 0.93. The company has a quick ratio of 1.33, a current ratio of 2.08 and a debt-to-equity ratio of 0.20. L.B. Foster has a fifty-two week low of $12.04 and a fifty-two week high of $19.34.

L.B. Foster (NASDAQ:FSTRGet Rating) last issued its earnings results on Tuesday, May 10th. The basic materials company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.05). The firm had revenue of $98.79 million during the quarter, compared to analyst estimates of $103.41 million. L.B. Foster had a net margin of 0.67% and a return on equity of 0.66%. During the same quarter in the previous year, the firm posted ($0.12) earnings per share. Research analysts expect that L.B. Foster will post 0.65 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in the stock. Rutabaga Capital Management LLC MA grew its holdings in L.B. Foster by 59.5% during the 1st quarter. Rutabaga Capital Management LLC MA now owns 389,863 shares of the basic materials company’s stock worth $5,992,000 after acquiring an additional 145,446 shares during the last quarter. Castleview Partners LLC bought a new stake in L.B. Foster during the 4th quarter worth approximately $24,663,000. Systematic Financial Management LP grew its holdings in L.B. Foster by 98.8% during the 1st quarter. Systematic Financial Management LP now owns 71,148 shares of the basic materials company’s stock worth $1,094,000 after acquiring an additional 35,360 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in L.B. Foster by 72.7% during the 1st quarter. Russell Investments Group Ltd. now owns 52,434 shares of the basic materials company’s stock worth $805,000 after acquiring an additional 22,076 shares during the last quarter. 76.61% of the stock is currently owned by institutional investors.

About L.B. Foster (Get Rating)

L.B. Foster Company provides engineered and manufactured products and services for the building and infrastructure projects worldwide. The company's Rail, Technologies, 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 and anchors, bolts, angle bars, tie plates, and other products; power rail, direct fixation fasteners, coverboards, and special accessories; and trackwork products, as well as engineers and manufactures insulated rail joints and related accessories.

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