L.B. Foster Company (NASDAQ:FSTR – Get Free Report) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 177,068 shares, a growth of 93.5% from the May 31st total of 91,517 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average trading volume of 76,939 shares, the days-to-cover ratio is currently 2.3 days.
Hedge Funds Weigh In On L.B. Foster
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSTR. Geode Capital Management LLC grew its stake in shares of L.B. Foster by 7.4% in the 2nd quarter. Geode Capital Management LLC now owns 238,041 shares of the basic materials company’s stock worth $5,207,000 after buying an additional 16,320 shares in the last quarter. Rhumbline Advisers grew its position in L.B. Foster by 5.7% in the second quarter. Rhumbline Advisers now owns 9,667 shares of the basic materials company’s stock worth $211,000 after acquiring an additional 525 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in L.B. Foster during the second quarter worth approximately $201,000. First Trust Advisors LP increased its stake in L.B. Foster by 1.5% during the second quarter. First Trust Advisors LP now owns 32,042 shares of the basic materials company’s stock worth $701,000 after acquiring an additional 461 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in L.B. Foster by 15.2% during the second quarter. Ameriprise Financial Inc. now owns 52,527 shares of the basic materials company’s stock valued at $1,149,000 after purchasing an additional 6,920 shares during the period. 80.63% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts recently commented on the company. Weiss Ratings raised L.B. Foster from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Wall Street Zen raised shares of L.B. Foster from a “buy” rating to a “strong-buy” rating in a report on Monday, June 8th. B. Riley Financial lifted their price target on shares of L.B. Foster from $27.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Finally, Zacks Research raised shares of L.B. Foster from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.
L.B. Foster Price Performance
NASDAQ:FSTR traded down $1.65 during trading hours on Thursday, hitting $42.43. 58,374 shares of the stock traded hands, compared to its average volume of 74,838. The company has a market cap of $443.82 million, a price-to-earnings ratio of 41.61 and a beta of 1.14. The company has a quick ratio of 1.28, a current ratio of 2.22 and a debt-to-equity ratio of 0.34. The stock has a 50 day moving average price of $39.71 and a 200 day moving average price of $32.96. L.B. Foster has a 1 year low of $21.67 and a 1 year high of $45.81.
L.B. Foster (NASDAQ:FSTR – Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The basic materials company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.36. L.B. Foster had a return on equity of 6.36% and a net margin of 1.98%.The business had revenue of $121.14 million for the quarter, compared to analysts’ expectations of $104.30 million. Sell-side analysts forecast that L.B. Foster will post 1.74 EPS for the current fiscal year.
About L.B. Foster
L.B. Foster Company is a diversified infrastructure solutions provider offering products and services to the transportation, energy, and construction markets. Founded in 1902 and headquartered in Pittsburgh, Pennsylvania, the company has built a reputation for delivering specialty materials and engineering solutions that support critical infrastructure projects across various industries.
The company’s operations are organized into three primary segments: Rail Products & Services, Construction Products, and Tubular & Energy Products.
Featured Articles
- Five stocks we like better than L.B. Foster
- Shorting the Grid: Bloom Energy’s $25B AI Power Play
- SanDisk’s Volatility May Be Telling Bulls What They Want to Hear
- Meta’s AI Compute Push Could Turn Its Massive CapEx Bill Into a Competitive Weapon
- 3 Dividend ETFs Built for Stability in a Volatile Market
Receive News & Ratings for L.B. Foster Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for L.B. Foster and related companies with MarketBeat.com's FREE daily email newsletter.
