ValuEngine Downgrades L.B. Foster (FSTR) to Sell

L.B. Foster (NASDAQ:FSTR) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report issued on Monday.

FSTR stock opened at $17.84 on Monday. L.B. Foster has a 52-week low of $13.91 and a 52-week high of $30.30. The company has a current ratio of 1.83, a quick ratio of 0.90 and a debt-to-equity ratio of 0.49. The company has a market cap of $189.71 million, a PE ratio of 14.72 and a beta of 2.11.

A number of institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new stake in shares of L.B. Foster during the 2nd quarter worth about $332,000. Matarin Capital Management LLC acquired a new stake in shares of L.B. Foster in the third quarter valued at approximately $387,000. Malaga Cove Capital LLC raised its holdings in shares of L.B. Foster by 24.7% in the third quarter. Malaga Cove Capital LLC now owns 44,056 shares of the basic materials company’s stock valued at $926,000 after purchasing an additional 8,737 shares during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of L.B. Foster by 48.5% in the third quarter. Panagora Asset Management Inc. now owns 47,851 shares of the basic materials company’s stock valued at $983,000 after purchasing an additional 15,623 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in L.B. Foster by 12.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,475 shares of the basic materials company’s stock worth $996,000 after purchasing an additional 5,225 shares during the period. 66.59% of the stock is owned by hedge funds and other institutional investors.

About L.B. Foster

L.B. Foster Company manufactures and distributes products and services for the transportation and energy infrastructure worldwide. Its Rail Products and Services segment offers new rail for passenger and shortline freight railroads, industrial companies, and rail contractors; used rail; rail accessories, such as track spikes, bolts, angle bars, and other products; power rail, direct fixation fasteners, coverboards, and special accessories; and trackwork products, as well as engineers and fabricates insulated rail joints and related accessories.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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