L.B. Foster (NASDAQ:FSTR) Shares Cross Above Two Hundred Day Moving Average – Here’s Why

Shares of L.B. Foster (NASDAQ:FSTR) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $22.21 and traded as high as $27.06. L.B. Foster shares last traded at $26.72, with a volume of 21,608 shares trading hands.

Analyst Upgrades and Downgrades

FSTR has been the topic of several research reports. StockNews.com upgraded L.B. Foster from a “buy” rating to a “strong-buy” rating in a report on Friday, November 8th. B. Riley boosted their target price on shares of L.B. Foster from $21.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th.

L.B. Foster Stock Performance

The firm has a market capitalization of $289.38 million, a P/E ratio of 6.87 and a beta of 0.96. The company has a 50-day moving average of $25.10 and a 200-day moving average of $22.20. The company has a current ratio of 2.27, a quick ratio of 1.30 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On L.B. Foster

A hedge fund recently raised its stake in L.B. Foster stock. MetLife Investment Management LLC raised its position in shares of L.B. Foster (NASDAQ:FSTR) by 129.1% in the third quarter, according to its most recent filing with the SEC. The firm owned 5,329 shares of the basic materials company’s stock after purchasing an additional 3,003 shares during the quarter. MetLife Investment Management LLC’s holdings in L.B. Foster were worth $109,000 at the end of the most recent quarter. 80.63% of the stock is currently owned by hedge funds and other 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.