L.B. Foster Company Rating Reiterated by DA Davidson (FSTR)
L.B. Foster Company (NASDAQ:FSTR)‘s stock had its “buy” rating reiterated by research analysts at DA Davidson in a report released on Friday. They currently have a $60.00 target price on the stock, up from their previous target price of $55.00. DA Davidson’s target price indicates a potential upside of 16.12% from the company’s current price.
The analysts wrote, “Fundamentals within the rail sector remain very strong. Car loadings are up nearly 4% year-to-date (versus prior year-to-date loadings of +2%), shortages of railcars reflect broader-based demand, and capital investments at major railroads are increasing. With strong earnings among rail operators, increased traffic and likelihood equipment and infrastructure are pushed even harder, we see solid opportunities for L.B. Foster to rebuild Rail backlog (as a major contract rolls off) as the company benefits from investment in track maintenance and expansion. Rail Products represents ~60% of L.B. Foster sales.”
A number of other analysts have also recently weighed in on FSTR. Analysts at Davidson raised their price target on shares of L.B. Foster Company from $55.00 to $60.00 in a research note on Friday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of L.B. Foster Company in a research note on Tuesday. They now have a $57.00 price target on the stock. Finally, analysts at Stifel raised their price target on shares of L.B. Foster Company from $52.00 to $56.00 in a research note on Tuesday, June 3rd. They now have a “buy” rating on the stock. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $57.80.
Shares of L.B. Foster Company (NASDAQ:FSTR) opened at 51.67 on Friday. L.B. Foster Company has a 52 week low of $39.14 and a 52 week high of $54.68. The stock’s 50-day moving average is $49.24 and its 200-day moving average is $46.53. The company has a market cap of $534.2 million and a price-to-earnings ratio of 19.56.
L.B. Foster Company (NASDAQ:FSTR) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by $0.18. The company had revenue of $111.40 million for the quarter, compared to the consensus estimate of $123.90 million. During the same quarter in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 13.8% on a year-over-year basis. On average, analysts predict that L.B. Foster Company will post $2.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, June 20th. Stockholders of record on Friday, June 6th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Wednesday, June 4th.
L. B. Foster Company is engaged in the manufacture, fabrication and distribution of rail, construction and tubular products.
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