B. Riley Has Strong Forecast for L.B. Foster FY2024 Earnings

L.B. Foster (NASDAQ:FSTR) – Research analysts at B. Riley increased their FY2024 EPS estimates for shares of L.B. Foster in a research note issued on Wednesday, November 13th. B. Riley analyst A. Rygiel now expects that the basic materials company will post earnings per share of $1.19 for the year, up from their previous forecast of $1.17. B. Riley currently has a “Neutral” rating and a $25.00 target price on the stock. The consensus estimate for L.B. Foster’s current full-year earnings is $1.20 per share. B. Riley also issued estimates for L.B. Foster’s Q4 2024 earnings at $0.32 EPS.

A number of other research analysts also recently weighed in on FSTR. Singular Research upgraded L.B. Foster to a “strong-buy” rating in a report on Monday, August 12th. StockNews.com upgraded L.B. Foster from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th.

L.B. Foster Stock Up 11.4 %

Shares of NASDAQ FSTR opened at $26.49 on Friday. The firm has a market cap of $286.89 million, a PE ratio of 6.81 and a beta of 0.83. The company’s fifty day simple moving average is $20.25 and its 200 day simple moving average is $22.06. The company has a quick ratio of 1.30, a current ratio of 2.27 and a debt-to-equity ratio of 0.37. L.B. Foster has a 12-month low of $14.23 and a 12-month high of $30.77.

Institutional Trading of L.B. Foster

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSTR. Lazard Asset Management LLC boosted its position in shares of L.B. Foster by 760.1% during the first quarter. Lazard Asset Management LLC now owns 1,789 shares of the basic materials company’s stock valued at $48,000 after buying an additional 1,581 shares during the last quarter. MetLife Investment Management LLC lifted its stake in L.B. Foster by 129.1% during the 3rd quarter. MetLife Investment Management LLC now owns 5,329 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 3,003 shares in the last quarter. Finally, De Lisle Partners LLP boosted its holdings in L.B. Foster by 11.9% during the 3rd quarter. De Lisle Partners LLP now owns 46,944 shares of the basic materials company’s stock worth $961,000 after acquiring an additional 5,000 shares during the last quarter. 80.63% of the stock is owned by 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.