L.B. Foster Co (FSTR) is Downgraded by DA Davidson to Neutral, Lowers Price Target to $ 18

L.B. Foster Co (FSTR) was Downgraded by DA Davidson to ” Neutral” while Lowering the Price Target of the company shares to $ 18 from a previous price target of $20 . Earlier the firm had a rating of “Buy ” on the company shares. DA Davidson advised their investors in a research report released on May 4, 2016.

On the company’s financial health, L.B. Foster Co reported $-0.28 EPS for the quarter, missing the analyst consensus estimate by $ -0.20 based on the information available during the earnings call on May 3, 2016. Analyst had a consensus of $-0.08. The company had revenue of $126.30 million for the quarter, compared to analysts expectations of $128.90 million. The company’s revenue was down -8.4 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.41 EPS.

L.B. Foster Co closed down -0.35 points or -1.78% at $19.33 with 52,007 shares getting traded on Monday. Post opening the session at $20.04, the shares hit an intraday low of $18.94 and an intraday high of $20.04 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Dec 15, 2015, John F Kasel (Sr. Vice President) purchased 3,500 shares at $11.61 per share price. According to the SEC, on Nov 23, 2015, Lee B Ii Foster (director) purchased 5,000 shares at $11.57 per share price. On Nov 16, 2015, Robert P Bauer (CEO) purchased 5,000 shares at $11.66 per share price, according to the Form-4 filing with the securities and exchange commission.

L.B. Foster Company (Foster) is a manufacturer fabricator and distributor of products and services for the rail construction energy and utility markets. The Company operates in three business segments. The Company’s Rail Products segment provides a range of new and used rail trackwork and accessories to railroads mines and industry. The Rail segment also designs and produces concrete railroad ties insulated rail joints power rail track fasteners coverboards and special accessories for mass transit and other rail systems. The Construction Products segment sells and rents steel sheet piling H-bearing pile and other piling products for foundation and earth retention requirements. The Tubular Products segment supplies pipe coatings for natural gas pipelines and utilities blending injection and metering equipment for the oil and gas market and produces threaded pipe products for industrial water well and irrigation markets.

L.B. Foster Co

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