B. Riley Issues Optimistic Forecast for L.B. Foster Earnings

L.B. Foster (NASDAQ:FSTR) – Investment analysts at B. Riley lifted their FY2024 earnings per share (EPS) estimates for L.B. Foster in a research report issued on Wednesday, November 13th. B. Riley analyst A. Rygiel now anticipates that the basic materials company will post earnings per share of $1.19 for the year, up from their prior forecast of $1.17. B. Riley currently has a “Neutral” rating and a $25.00 price target 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.

Several other equities analysts also recently weighed in on FSTR. Singular Research upgraded L.B. Foster to a “strong-buy” rating in a research 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 Performance

NASDAQ FSTR opened at $23.77 on Friday. The business’s 50-day moving average price is $20.09 and its 200 day moving average price is $22.04. L.B. Foster has a twelve month low of $14.23 and a twelve month high of $30.77. The company has a market capitalization of $257.43 million, a PE ratio of 6.11 and a beta of 0.83. The company has a current ratio of 2.27, a quick ratio of 1.30 and a debt-to-equity ratio of 0.37.

Institutional Investors Weigh In On L.B. Foster

Several hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC grew its stake in L.B. Foster by 760.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,789 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 1,581 shares in the last quarter. MetLife Investment Management LLC grew 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 purchasing an additional 3,003 shares in the last quarter. Finally, De Lisle Partners LLP grew its stake 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 valued at $961,000 after purchasing an additional 5,000 shares in the last quarter. 80.63% of the stock is currently owned by hedge funds and other 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.