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

L.B. Foster (NASDAQ:FSTR) – Equities research analysts at B. Riley lifted their FY2024 earnings per share estimates for shares of L.B. Foster in a report released on Wednesday, November 13th. B. Riley analyst A. Rygiel now anticipates that the basic materials company will earn $1.19 per share for the year, up from their prior forecast of $1.17. B. Riley 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.

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

L.B. Foster Price Performance

Shares of FSTR opened at $23.77 on Friday. The company has a market cap of $257.43 million, a P/E ratio of 6.11 and a beta of 0.83. The stock has a fifty day moving average price of $20.09 and a 200 day moving average price of $22.04. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.27 and a quick ratio of 1.30. L.B. Foster has a 12 month low of $14.23 and a 12 month high of $30.77.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. De Lisle Partners LLP boosted its position 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 period. MetLife Investment Management LLC boosted its position 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 worth $109,000 after acquiring an additional 3,003 shares during the period. Finally, Lazard Asset Management LLC boosted its position 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 worth $48,000 after acquiring an additional 1,581 shares during the period. Institutional investors and hedge funds own 80.63% of the company’s stock.

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.