L.B. Foster (NASDAQ:FSTR) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of L.B. Foster (NASDAQ:FSTR - Free Report) from a strong-buy rating to a buy rating in a report issued on Thursday morning.

Separately, B. Riley upped their target price on shares of L.B. Foster from $21.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, November 13th.

L.B. Foster Price Performance

FSTR traded down $0.86 on Thursday, hitting $20.75. 55,563 shares of the company were exchanged, compared to its average volume of 54,611. 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 business's fifty day moving average is $26.87 and its 200 day moving average is $24.10. L.B. Foster has a fifty-two week low of $14.23 and a fifty-two week high of $30.77. The firm has a market capitalization of $224.72 million, a P/E ratio of 5.33 and a beta of 0.97.

L.B. Foster declared that its Board of Directors has authorized a stock repurchase program on Tuesday, March 4th that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the basic materials company to repurchase up to 16.4% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

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Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. MetLife Investment Management LLC grew its position 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 purchasing an additional 3,003 shares during the last quarter. De Lisle Partners LLP grew its position 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 purchasing an additional 5,000 shares during the last quarter. BNP Paribas Financial Markets grew its position 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 purchasing an additional 4,225 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in shares of L.B. Foster in the fourth quarter valued at approximately $349,000. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of L.B. Foster in the fourth quarter valued at approximately $1,784,000. 80.63% of the stock is currently owned by institutional investors and hedge funds.

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.