Freightcar America Inc. (RAIL) Stock Price Up 3.3%
Freightcar America Inc. (NASDAQ:RAIL)’s share price shot up 3.3% on Tuesday . The company traded as high as $15.10 and last traded at $15.08, with a volume of 60,878 shares traded. The stock had previously closed at $14.60.
A number of research firms recently weighed in on RAIL. Zacks Investment Research upgraded shares of Freightcar America from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 27th. Stifel Nicolaus lowered shares of Freightcar America from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Longbow Research lowered shares of Freightcar America from a “buy” rating to a “neutral” rating in a research report on Wednesday, May 4th. Finally, Cowen and Company initiated coverage on shares of Freightcar America in a research report on Wednesday, June 22nd. They set a “market perform” rating and a $15.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $17.67.
The company has a 50-day moving average price of $14.47 and a 200 day moving average price of $15.19. The stock has a market cap of $179.74 million and a P/E ratio of 4.63.
Freightcar America (NASDAQ:RAIL) last announced its quarterly earnings data on Monday, August 1st. The company reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.47. The business had revenue of $126.20 million for the quarter, compared to the consensus estimate of $163.43 million. The business’s revenue was down 46.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. On average, analysts predict that Freightcar America Inc. will post $0.60 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 24th. Stockholders of record on Thursday, August 18th were issued a $0.09 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.48%.
In related news, VP Matthew S. Kohnke purchased 7,500 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was acquired at an average price of $14.07 per share, for a total transaction of $105,525.00. Following the acquisition, the vice president now directly owns 2,100 shares of the company’s stock, valued at approximately $29,547. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
An institutional investor recently raised its position in Freightcar America stock. New York State Common Retirement Fund increased its position in shares of Freightcar America Inc. (NASDAQ:RAIL) by 7.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 135,619 shares of the company’s stock after buying an additional 9,924 shares during the period. New York State Common Retirement Fund owned 1.10% of Freightcar America worth $2,635,000 as of its most recent filing with the SEC.
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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