L.B. Foster Rating Increased to Neutral at Zacks (FSTR)
L.B. Foster (NASDAQ:FSTR) was upgraded by Zacks from an “underperform” rating to a “neutral” rating in a report released on Monday, AR Network reports. The firm currently has a $50.00 target price on the stock. Zacks‘ price target would indicate a potential upside of 5.33% from the stock’s previous close.
Zacks‘ analyst wrote, “We are upgrading our recommendation on Foster to Neutral from Underperform based on improving transport construction activities in the U.S. This will largely benefit Foster as the Construction segment contributes significantly to its revenues. Also, the company plans to increase its capital spending on innovation and growth in the coming quarters. Along with this, the growth recorded in some of the product segments strengthens our belief about a strong future. Foster has a strong balance sheet with a low debt-equity ratio. However, Foster reported weak results for the second quarter of 2013, with adjusted earnings and revenues declining year over year. Additionally, the presence of many players in the industry endangers the company’s growth prospects. A downward revision of spending by public and private institutions on various projects impacts the company’s revenues.”
Separately, analysts at Stifel Nicolaus upgraded shares of L.B. Foster from a “hold” rating to a “buy” rating in a research note to investors on Wednesday, August 7th. They now have a $49.00 price target on the stock.
Shares of L.B. Foster (NASDAQ:FSTR) traded up 0.91% during mid-day trading on Monday, hitting $47.90. 3,005 shares of the company’s stock traded hands. L.B. Foster has a 52 week low of $31.66 and a 52 week high of $47.91. The stock has a 50-day moving average of $45.03 and a 200-day moving average of $44.26. The company has a market cap of $494.5 million and a P/E ratio of 18.02.
L.B. Foster (NASDAQ:FSTR) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by $0.11. The company had revenue of $149.90 million for the quarter, compared to the consensus estimate of $175.00 million. During the same quarter in the previous year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was down 9.1% on a year-over-year basis. On average, analysts predict that L.B. Foster will post $2.72 earnings per share for the current fiscal year.
L. B. Foster Company (NASDAQ:FSTR) is engaged in the manufacture, fabrication and distribution of rail, construction and tubular products.
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