Freightcar America Inc. (RAIL) Stock Price Up 6.3%
Shares of Freightcar America Inc. (NASDAQ:RAIL) rose 6.3% during mid-day trading on Friday . The stock traded as high as $14.60 and last traded at $14.54, with a volume of 96,050 shares changing hands. The stock had previously closed at $13.68.
RAIL has been the topic of several recent research reports. Stifel Nicolaus dropped their target price on Freightcar America from $20.00 to $17.00 and set a “buy” rating on the stock in a research 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. Cowen and Company began coverage on Freightcar America in a report on Wednesday, June 22nd. They set a “market perform” rating and a $15.00 price objective for the company. Finally, Longbow Research lowered Freightcar America from a “buy” rating to a “neutral” rating in a report on Wednesday, May 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. Freightcar America presently has an average rating of “Hold” and a consensus price target of $17.67.
The company’s 50 day moving average is $14.31 and its 200 day moving average is $15.60. The firm has a market capitalization of $177.54 million and a PE ratio of 4.62.
Freightcar America (NASDAQ:RAIL) last released its quarterly earnings results on Monday, August 1st. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.47. The firm had revenue of $126.20 million for the quarter, compared to analysts’ expectations of $163.43 million. During the same quarter in the previous year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was down 46.4% on a year-over-year basis. Equities research analysts expect that Freightcar America Inc. will post $0.60 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in RAIL. Dimensional Fund Advisors LP raised 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. New York State Common Retirement Fund raised 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. Finally, Cornerstone Capital Management Holdings LLC. purchased a new stake in shares of Freightcar America during the fourth quarter worth about $1,072,000.
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.
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