L.B. Foster (NASDAQ:FSTR) Rating Lowered to “Buy” at StockNews.com

StockNews.com lowered shares of L.B. Foster (NASDAQ:FSTR) from a strong-buy rating to a buy rating in a research note issued to investors on Thursday.

Separately, B. Riley boosted their target price on shares of L.B. Foster from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th.

L.B. Foster Stock Down 2.8 %

Shares of NASDAQ:FSTR opened at $21.61 on Thursday. L.B. Foster has a 52 week low of $14.23 and a 52 week high of $30.77. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.30 and a current ratio of 2.27. The company’s fifty day moving average is $27.10 and its 200-day moving average is $24.02. The company has a market capitalization of $234.04 million, a PE ratio of 5.56 and a beta of 0.97.

L.B. Foster declared that its board has initiated a share buyback plan on Tuesday, March 4th that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the basic materials company to purchase up to 16.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FSTR. MetLife Investment Management LLC raised its holdings in shares of L.B. Foster by 129.1% in the third quarter. MetLife Investment Management LLC now owns 5,329 shares of the basic materials company’s stock valued at $109,000 after buying an additional 3,003 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of L.B. Foster by 197.2% in the fourth quarter. BNP Paribas Financial Markets now owns 6,368 shares of the basic materials company’s stock valued at $171,000 after buying an additional 4,225 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of L.B. Foster in the fourth quarter valued at about $349,000. De Lisle Partners LLP raised its holdings in shares of L.B. Foster by 11.9% in the third quarter. De Lisle Partners LLP now owns 46,944 shares of the basic materials company’s stock valued at $961,000 after buying an additional 5,000 shares during the last quarter. Finally, Hillsdale Investment Management Inc. bought a new position in shares of L.B. Foster in the fourth quarter valued at about $1,784,000. 80.63% of the stock is owned by institutional investors.

L.B. Foster Company Profile

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.