Share Buyback Plan Authorized by L.B. Foster (NASDAQ:FSTR)

L.B. Foster (NASDAQ:FSTR) announced that its board has authorized a stock repurchase plan on Tuesday, March 4th, RTT News reports. The company plans to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the basic materials company to purchase up to 16.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Analyst Ratings Changes

A number of research firms have weighed in on FSTR. 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 research note on Wednesday, November 13th. StockNews.com upgraded L.B. Foster from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 8th.

L.B. Foster Price Performance

FSTR stock opened at $22.59 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 2.27 and a debt-to-equity ratio of 0.37. The firm has a market cap of $244.65 million, a price-to-earnings ratio of 5.81 and a beta of 0.96. The company’s fifty day simple moving average is $27.30 and its 200 day simple moving average is $24.01. L.B. Foster has a 12-month low of $14.23 and a 12-month high of $30.77.

L.B. Foster Company Profile

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.