L.B. Foster Co (NASDAQ:FSTR) was the target of a significant increase in short interest in September. As of September 15th, there was short interest totalling 115,100 shares, an increase of 7.5% from the August 15th total of 107,100 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 40,900 shares, the days-to-cover ratio is currently 2.8 days.
FSTR traded up $0.59 during midday trading on Monday, hitting $21.95. The stock had a trading volume of 414 shares, compared to its average volume of 29,942. The company has a market cap of $226.73 million, a P/E ratio of 18.64 and a beta of 1.80. The business has a fifty day moving average of $21.35 and a 200 day moving average of $22.58. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.95 and a current ratio of 2.04. L.B. Foster has a 1 year low of $13.91 and a 1 year high of $27.80.
L.B. Foster (NASDAQ:FSTR) last announced its quarterly earnings data on Tuesday, July 30th. The basic materials company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.39. L.B. Foster had a positive return on equity of 15.15% and a negative net margin of 3.36%. The firm had revenue of $200.93 million during the quarter, compared to the consensus estimate of $178.85 million. On average, equities research analysts anticipate that L.B. Foster will post 2.18 earnings per share for the current year.
FSTR has been the subject of several research reports. B. Riley set a $30.00 target price on L.B. Foster and gave the stock a “buy” rating in a research note on Friday, June 14th. BidaskClub lowered L.B. Foster from a “hold” rating to a “sell” rating in a research note on Thursday, August 8th. Zacks Investment Research raised L.B. Foster from a “hold” rating to a “buy” rating and set a $30.00 target price for the company in a research note on Wednesday, July 31st. Finally, ValuEngine lowered L.B. Foster from a “hold” rating to a “sell” rating in a research note on Monday, August 12th.
A number of hedge funds have recently made changes to their positions in FSTR. Rutabaga Capital Management LLC MA lifted its position in L.B. Foster by 188.6% in the second quarter. Rutabaga Capital Management LLC MA now owns 213,295 shares of the basic materials company’s stock valued at $5,831,000 after purchasing an additional 139,387 shares during the last quarter. Renaissance Technologies LLC lifted its position in L.B. Foster by 23.8% in the second quarter. Renaissance Technologies LLC now owns 713,500 shares of the basic materials company’s stock valued at $19,507,000 after purchasing an additional 137,100 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in L.B. Foster in the second quarter valued at approximately $1,885,000. Acadian Asset Management LLC lifted its position in L.B. Foster by 977.1% in the second quarter. Acadian Asset Management LLC now owns 46,068 shares of the basic materials company’s stock valued at $1,260,000 after purchasing an additional 41,791 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in L.B. Foster by 161.5% in the second quarter. Jacobs Levy Equity Management Inc. now owns 63,621 shares of the basic materials company’s stock valued at $1,739,000 after purchasing an additional 39,294 shares during the last quarter. Hedge funds and other institutional investors own 74.05% of the company’s stock.
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 to passenger and short line freight railroads, industrial companies, and rail contractors; used rails; rail accessories, including track spikes, bolts, angle bars, and other products; power rail, direct fixation fasteners, coverboards, and other accessories; and trackwork products, as well as engineers and fabricates insulated rail joints and related accessories.
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