L.B. Foster Co (NASDAQ:FSTR) saw a large decrease in short interest in June. As of June 15th, there was short interest totalling 82,700 shares, a decrease of 27.1% from the May 15th total of 113,400 shares. Based on an average daily volume of 59,000 shares, the short-interest ratio is currently 1.4 days. Approximately 0.8% of the company’s shares are short sold.
A number of equities research analysts have recently issued reports on the stock. BidaskClub raised shares of L.B. Foster from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. ValuEngine raised shares of L.B. Foster from a “hold” rating to a “buy” rating in a research note on Tuesday, May 14th. B. Riley set a $30.00 price objective on shares of L.B. Foster and gave the company a “buy” rating in a research note on Friday, June 14th. Finally, Zacks Investment Research raised shares of L.B. Foster from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Tuesday, May 7th.
Shares of L.B. Foster stock traded up $0.59 during trading on Wednesday, reaching $24.59. The company’s stock had a trading volume of 48,400 shares, compared to its average volume of 46,093. L.B. Foster has a 52-week low of $13.91 and a 52-week high of $26.48. The company has a market cap of $254.16 million, a P/E ratio of 21.02 and a beta of 1.82. The firm has a 50-day simple moving average of $23.95. 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 announced its quarterly earnings data on Thursday, May 9th. The basic materials company reported $0.35 earnings per share (EPS) for the quarter, beating 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 company had revenue of $150.47 million during the quarter, compared to analysts’ expectations of $132.25 million. As a group, analysts predict that L.B. Foster will post 1.94 EPS for the current fiscal year.
A number of large investors have recently bought and sold shares of FSTR. Rutabaga Capital Management LLC MA bought a new stake in L.B. Foster during the 1st quarter valued at $1,391,000. Vanguard Group Inc. raised its holdings in L.B. Foster by 13.4% during the 3rd quarter. Vanguard Group Inc. now owns 447,044 shares of the basic materials company’s stock valued at $9,187,000 after buying an additional 52,772 shares during the last quarter. Alambic Investment Management L.P. raised its holdings in L.B. Foster by 117.4% during the 4th quarter. Alambic Investment Management L.P. now owns 44,144 shares of the basic materials company’s stock valued at $702,000 after buying an additional 23,834 shares during the last quarter. BlackRock Inc. raised its holdings in L.B. Foster by 2.7% during the 4th quarter. BlackRock Inc. now owns 638,964 shares of the basic materials company’s stock valued at $10,161,000 after buying an additional 16,764 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in L.B. Foster by 116.3% during the 1st quarter. Marshall Wace LLP now owns 28,489 shares of the basic materials company’s stock valued at $536,000 after buying an additional 15,319 shares during the last quarter. Institutional investors own 68.35% of the company’s stock.
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.
See Also: Intrinsic Value
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