Freightcar America Inc. (RAIL) Stock Price Down 8.2%
Freightcar America Inc. (NASDAQ:RAIL)’s share price was down 8.2% on Wednesday . The company traded as low as $13.51 and last traded at $14.15, with a volume of 252,874 shares. The stock had previously closed at $15.42.
A number of equities analysts have weighed in on RAIL shares. Stifel Nicolaus downgraded shares of Freightcar America from a “buy” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research downgraded shares of Freightcar America from a “hold” rating to a “strong sell” rating in a research note on Friday, May 6th. Cowen and Company started coverage on shares of Freightcar America in a research note on Wednesday, June 22nd. They issued a “market perform” rating and a $15.00 target price for the company. Finally, Longbow Research downgraded shares of Freightcar America from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 4th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $17.67.
The company has a 50 day moving average of $14.33 and a 200 day moving average of $16.05. The firm has a market capitalization of $179.23 million and a P/E ratio of 3.85.
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, equities analysts expect that Freightcar America Inc. will post $1.30 earnings per share for the current year.
Other institutional investors have added to or reduced their stakes in the company. Russell Frank Co increased its position in Freightcar America by 0.8% in the fourth quarter. Russell Frank Co now owns 280,190 shares of the company’s stock valued at $5,539,000 after buying an additional 2,142 shares during the period. New York State Common Retirement Fund increased its stake in shares of 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 worth $2,635,000 after buying an additional 9,924 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Freightcar America by 7.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 641,121 shares of the company’s stock worth $12,457,000 after buying an additional 46,502 shares during the last quarter. Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Freightcar America during the fourth quarter worth about $1,072,000. Finally, Shell Asset Management Co. purchased a new stake in shares of Freightcar America during the fourth quarter worth about $1,075,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.