L.B. Foster (NASDAQ:FSTR) to Repurchase $40.00 million in Outstanding Stock

L.B. Foster (NASDAQ:FSTR) declared that its Board of Directors has initiated a stock buyback plan on Tuesday, March 4th, RTT News reports. The company plans to buyback $40.00 million in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 16.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on FSTR shares. StockNews.com raised L.B. Foster from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 8th. B. Riley upped their target price on L.B. Foster from $21.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th.

L.B. Foster Stock Performance

L.B. Foster stock traded down $3.17 during trading hours on Tuesday, hitting $22.59. 67,736 shares of the stock traded hands, compared to its average volume of 54,521. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.27 and a quick ratio of 1.30. The firm’s 50 day moving average price is $27.30 and its 200-day moving average price is $24.01. The stock has a market capitalization of $244.65 million, a price-to-earnings ratio of 5.81 and a beta of 0.96. L.B. Foster has a 1 year low of $14.23 and a 1 year high of $30.77.

L.B. Foster (NASDAQ:FSTR) last issued its quarterly earnings results on Tuesday, March 4th. The basic materials company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.29 by ($0.31). L.B. Foster had a return on equity of 6.01% and a net margin of 7.96%. As a group, equities analysts expect that L.B. Foster will post 1.16 EPS for the current fiscal year.

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.