L.B. Foster (NASDAQ:FSTR) Shares Pass Above 200 Day Moving Average – Here’s Why

L.B. Foster (NASDAQ:FSTR) shares passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $23.25 and traded as high as $28.70. L.B. Foster shares last traded at $28.48, with a volume of 50,479 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. StockNews.com upgraded L.B. Foster from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 8th. B. Riley raised their price objective on L.B. Foster from $21.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th.

L.B. Foster Trading Up 3.6 %

The company has a market cap of $308.44 million, a P/E ratio of 7.32 and a beta of 0.96. The business has a fifty day moving average price of $27.59 and a 200-day moving average price of $23.25. The company has a quick ratio of 1.30, a current ratio of 2.27 and a debt-to-equity ratio of 0.37.

Institutional Investors Weigh In On L.B. Foster

A hedge fund recently raised its stake in L.B. Foster stock. MetLife Investment Management LLC raised its position in shares of L.B. Foster (NASDAQ:FSTR) by 129.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,329 shares of the basic materials company’s stock after purchasing an additional 3,003 shares during the period. MetLife Investment Management LLC’s holdings in L.B. Foster were worth $109,000 at the end of the most recent reporting period. 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.