Freightcar America Inc. (RAIL) Sees Large Volume Increase
Freightcar America Inc. (NASDAQ:RAIL) saw unusually-strong trading volume on Friday . Approximately 176,516 shares traded hands during mid-day trading, an increase of 8% from the previous session’s volume of 163,668 shares.The stock last traded at $14.68 and had previously closed at $14.13.
A number of equities research analysts have issued reports on RAIL shares. Stifel Nicolaus cut their target price on shares of Freightcar America from $20.00 to $17.00 and set a “buy” rating for the company in a research report on Wednesday, May 4th. Zacks Investment Research upgraded shares of Freightcar America from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 27th. Cowen and Company started coverage on shares of Freightcar America in a report on Wednesday, June 22nd. They set a “market perform” rating and a $15.00 price target on the stock. Finally, Longbow Research downgraded shares of Freightcar America from a “buy” rating to a “neutral” rating in a report on Wednesday, May 4th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $17.67.
The firm has a 50 day moving average price of $14.28 and a 200-day moving average price of $16.24. The firm has a market capitalization of $180.84 million and a price-to-earnings ratio of 3.89.
Freightcar America (NASDAQ:RAIL) last released its quarterly earnings results on Monday, May 2nd. The company reported $0.28 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.15. During the same quarter in the previous year, the business earned ($0.17) EPS. The company had revenue of $148 million for the quarter, compared to analyst estimates of $153.38 million. The business’s quarterly revenue was up 60.1% compared to the same quarter last year. On average, analysts predict that Freightcar America Inc. will post $1.33 EPS for the current year.
Other institutional investors have added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. acquired a new position in Freightcar America during the fourth quarter valued at approximately $1,072,000. Shell Asset Management Co. acquired a new position in Freightcar America during the fourth quarter valued at approximately $1,075,000. American Century Companies Inc. acquired a new position in Freightcar America during the fourth quarter valued at approximately $1,554,000. Chicago Equity Partners LLC acquired a new position in Freightcar America during the fourth quarter valued at approximately $1,847,000. Finally, New York State Common Retirement Fund increased its position in Freightcar America by 7.9% in the fourth quarter. New York State Common Retirement Fund now owns 135,619 shares of the company’s stock valued at $2,635,000 after buying an additional 9,924 shares during the period.
FreightCar America Inc is engaged in manufacturing of aluminum-bodied railcars in North America. The Company is also a manufacturer of coal cars. The Company also refurbishes and rebuilds railcars and sells forged cast and fabricated parts for all of the railcars it produces as well as those manufactured by others.
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