L.B. Foster (NASDAQ:FSTR) Sees Large Growth in Short Interest

L.B. Foster (NASDAQ:FSTR) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 129,300 shares, a growth of 18.5% from the December 15th total of 109,100 shares. Based on an average daily trading volume, of 39,100 shares, the short-interest ratio is currently 3.3 days. Approximately 1.3% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on FSTR. B. Riley lifted 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 note on Wednesday, November 13th. StockNews.com raised shares of L.B. Foster from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 8th.

L.B. Foster Trading Up 1.6 %

NASDAQ FSTR traded up $0.43 during mid-day trading on Friday, reaching $27.82. 18,800 shares of the stock were exchanged, compared to its average volume of 25,800. L.B. Foster has a one year low of $14.23 and a one year high of $30.77. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.27 and a quick ratio of 1.30. The stock has a market cap of $301.29 million, a P/E ratio of 7.15 and a beta of 0.97. The stock has a 50 day simple moving average of $27.17 and a 200-day simple moving average of $22.63.

Institutional Investors Weigh In On L.B. Foster

An institutional investor recently raised its position in L.B. Foster stock. MetLife Investment Management LLC raised its stake in L.B. Foster (NASDAQ:FSTR) by 129.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,329 shares of the basic materials company’s stock after purchasing an additional 3,003 shares during the period. MetLife Investment Management LLC’s holdings in L.B. Foster were worth $109,000 as of its most recent SEC filing. Institutional investors own 80.63% of the company’s stock.

L.B. Foster Company Profile

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.