DA Davidson Downgrades L.B. Foster (FSTR) to Neutral, Cuts Price Target to $22
Tweet
Share
E-mailGet Alerts FSTR Hot Sheet
Price: $38.08 +0.34%
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Rating Summary:
1 Buy, 5 Hold, 0 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 8 | Down: 5 | New: 26
Join SI Premium – FREE
DA Davidson downgraded shares of L.B. Foster (NASDAQ: FSTR) to a Neutral rating from its previous rating of Buy and cut its price target from $50 to $32.
The company released its Q2 results with revenue increasing 45 percent year-over-year and an EPS of $0.61. Core Foster revenues increased 22 percent year-over-year.
The firm notes, it is unclear on how much of a financial effect Union Pacific's (NYSE: UNP) claim will have on the company, but does state that it raises risk and uncertainty on the shares.
DA Davidson reduced its 2011 EPS estimate from $2.21 to $2.12 and reiterated its 2012 estimate of $3.35. The firm increased its 2011 revenue estimate from $563.1 million to $603.8 million.
For more ratings news on L.B. Foster click here and for the rating history of L.B. Foster click here.
Shares of L.B. Foster closed at $34.04 yesterday.
The company released its Q2 results with revenue increasing 45 percent year-over-year and an EPS of $0.61. Core Foster revenues increased 22 percent year-over-year.
The firm notes, it is unclear on how much of a financial effect Union Pacific's (NYSE: UNP) claim will have on the company, but does state that it raises risk and uncertainty on the shares.
DA Davidson reduced its 2011 EPS estimate from $2.21 to $2.12 and reiterated its 2012 estimate of $3.35. The firm increased its 2011 revenue estimate from $563.1 million to $603.8 million.
For more ratings news on L.B. Foster click here and for the rating history of L.B. Foster click here.
Shares of L.B. Foster closed at $34.04 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Advance Auto Parts (AAP) PT Lowered to $48 at DA Davidson Following 25% Selloff Post Q2 Results
- JPMorgan Downgrades Bowman Consulting Group Ltd. (BWMN) to Underweight
- Goldman Sachs Downgrades Hysan Development Company Limited (14:HK) (HYSNY) to Sell
Create E-mail Alert Related Categories
DowngradesRelated Entities
D.A. DavidsonSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
