L.B. Foster (NASDAQ:FSTR) Share Price Passes Above 200-Day Moving Average – Here’s Why

L.B. Foster (NASDAQ:FSTR) shares crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $22.12 and traded as high as $28.97. L.B. Foster shares last traded at $28.55, with a volume of 31,383 shares traded.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. B. Riley increased their price objective on L.B. Foster from $21.00 to $25.00 and gave the company 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 Stock Performance

The company has a market cap of $291.22 million, a P/E ratio of 6.91 and a beta of 0.96. The business has a fifty day moving average of $24.13 and a 200 day moving average of $22.16. The company has a quick ratio of 1.30, a current ratio of 2.27 and a debt-to-equity ratio of 0.37.

Institutional Investors Weigh In On L.B. Foster

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

About L.B. Foster

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.