In a report released today, Christopher Van Horn from B.Riley FBR reiterated a Buy rating on LB Foster Company (FSTR), with a price target of $30. The company’s shares opened today at $17.69.
Van Horn observed:
“We think that LB Foster has a number of positive catalysts that should drive shares higher over the next 12-18 months including construction award activity, higher penetration of friction control services business, and market share gains across all three business lines. The company reported 4Q 2018 results that were a touch below expectations on the top- and bottom-lines, but order growth came in much stronger than expected, as the company continues to see demand in its primary end markets. Order growth was specifically strong in the company’s Rail segment with order growing over 40% in the quarter. Construction markets remain volatile as many of the company’s revenues are lumpy in the segment while the company’s energy markets performed well.”
According to TipRanks.com, Horn is a 3-star analyst with an average return of 2.8% and a 48.3% success rate. Horn covers the Consumer Goods sector, focusing on stocks such as Espey Mfg & Electronics, Methode Electronics, and Hickok Incorporated.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for LB Foster Company with a $25 average price target.
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Based on LB Foster Company’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $41.15 million. In comparison, last year the company had a net profit of $289K.
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L.B. Foster Co. engages in the manufacture, fabrication, and distribution of products and services for the transportation and energy infrastructure. It operates through the following segments: Rail Products and Services; Construction Products; and Tubular and Energy Services.
