Freightcar America Inc. (RAIL) Trading Down 2%
Shares of Freightcar America Inc. (NASDAQ:RAIL) traded down 2% during mid-day trading on Wednesday . The stock traded as low as $13.90 and last traded at $13.96, with a volume of 393,111 shares changing hands. The stock had previously closed at $14.25.
Several analysts recently issued reports on the company. Longbow Research downgraded Freightcar America from a “buy” rating to a “neutral” rating in a report on Wednesday, May 4th. Zacks Investment Research upgraded Freightcar America from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 27th. Stifel Nicolaus lowered their price target on Freightcar America from $20.00 to $17.00 and set a “buy” rating for the company in a report on Wednesday, May 4th. Finally, Cowen and Company assumed coverage on Freightcar America in a report on Wednesday, June 22nd. They issued a “market perform” rating and a $15.00 price target for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $17.67.
The stock’s 50 day moving average is $14.33 and its 200 day moving average is $15.61. The company has a market capitalization of $172.56 million and a PE ratio of 3.71.
Freightcar America (NASDAQ:RAIL) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.47. During the same period last year, the company earned $0.60 earnings per share. The company had revenue of $126.20 million for the quarter, compared to analysts’ expectations of $163.43 million. The business’s revenue for the quarter was down 46.4% on a year-over-year basis. Analysts anticipate that Freightcar America Inc. will post $1.28 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the company. Cornerstone Capital Management Holdings LLC. purchased a new position in Freightcar America during the fourth quarter worth approximately $1,072,000. New York State Common Retirement Fund raised 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 worth $2,635,000 after buying an additional 9,924 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in 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 in the last quarter.
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
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.