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

L.B. Foster Company (NASDAQ:FSTR)’s stock price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $35.70 and traded as high as $35.88. L.B. Foster shares last traded at $35.79, with a volume of 26,700 shares changing hands.

Analyst Upgrades and Downgrades

FSTR has been the subject of a number of research analyst reports. Weiss Ratings cut L.B. Foster from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Wall Street Zen lowered L.B. Foster from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 15th. Finally, Zacks Research lowered L.B. Foster from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $32.00.

L.B. Foster Stock Performance

The stock has a market capitalization of $382.82 million, a P/E ratio of 34.66, a PEG ratio of 0.56 and a beta of 1.13. The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.15 and a current ratio of 2.00. The company’s fifty day simple moving average is $36.68 and its two-hundred day simple moving average is $35.78.

L.B. Foster (NASDAQ:FSTR) last issued its quarterly earnings data on Monday, August 10th. The basic materials company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.12). The firm had revenue of $138.55 million for the quarter, compared to the consensus estimate of $134.49 million. L.B. Foster had a return on equity of 7.61% and a net margin of 2.04%. As a group, equities analysts forecast that L.B. Foster Company will post 1.81 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp bought a new stake in shares of L.B. Foster during the 1st quarter valued at $47,000. Hillsdale Investment Management Inc. bought a new position in L.B. Foster in the 1st quarter valued at approximately $354,000. Bank of America Corp DE raised its position in L.B. Foster by 13.3% in the first quarter. Bank of America Corp DE now owns 15,941 shares of the basic materials company’s stock valued at $445,000 after purchasing an additional 1,869 shares during the last quarter. Empowered Funds LLC raised its stake in shares of L.B. Foster by 8.0% during the first quarter. Empowered Funds LLC now owns 16,665 shares of the basic materials company’s stock valued at $465,000 after acquiring an additional 1,232 shares during the last quarter. Finally, Strs Ohio raised its position in L.B. Foster by 109.4% during the 1st quarter. Strs Ohio now owns 20,100 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 10,500 shares during the last quarter. 80.63% of the stock is owned by institutional investors.

L.B. Foster Company Profile

L.B. Foster Company (NASDAQ: FSTR) is a Pittsburgh-based manufacturer and supplier of products, technologies and services used in transportation and industrial infrastructure. The company serves customers primarily in the rail, construction and energy markets, providing solutions designed to support the construction, maintenance and operation of critical infrastructure.

In its rail business, L.B. Foster offers rail and track products such as rail joints, fastening systems, track components and related maintenance solutions.