Freightcar America Inc. (RAIL) Upgraded to “Hold” by Zacks Investment Research
According to Zacks, “FreightCar America, Inc. manufactures railroad freight cars, with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds flat cars, mill gondola cars, intermodal cars, coil steel cars and motor vehicle carriers. It is headquartered in Chicago, Illinois and has manufacturing facilities in Danville, Illinois, Roanoke, Virginia and Johnstown, Pennsylvania. “
RAIL has been the subject of a number of other reports. Cowen and Company began coverage on Freightcar America in a research note on Wednesday, June 22nd. They issued a market perform rating and a $15.00 price objective for the company. Stifel Nicolaus cut Freightcar America from a buy rating to a hold rating in a research note on Wednesday, July 13th. 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 currently has a consensus rating of Hold and an average price target of $17.67.
Shares of Freightcar America (NASDAQ:RAIL) traded up 1.91% on Wednesday, reaching $14.96. The company had a trading volume of 48,397 shares. Freightcar America has a 52 week low of $12.56 and a 52 week high of $24.95. The company has a market capitalization of $185.31 million, a P/E ratio of 4.77 and a beta of 1.81. The company has a 50 day moving average of $14.16 and a 200-day moving average of $14.62.
Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings data on Monday, August 1st. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.47. Freightcar America had a net margin of 5.38% and a return on equity of 10.87%. The firm earned $126.20 million during the quarter, compared to analyst estimates of $163.43 million. During the same period in the previous year, the firm posted $0.60 earnings per share. The company’s quarterly revenue was down 46.4% compared to the same quarter last year. Analysts predict that Freightcar America will post $0.60 earnings per share for the current fiscal year.
In related news, VP Matthew S. Kohnke bought 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average cost of $14.07 per share, for a total transaction of $105,525.00. Following the completion of the acquisition, the vice president now owns 2,100 shares in the company, valued at approximately $29,547. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.10% of the stock is owned by corporate insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Eqis Capital Management Inc. raised its position in Freightcar America by 1.7% in the third quarter. Eqis Capital Management Inc. now owns 12,475 shares of the company’s stock worth $179,000 after buying an additional 206 shares during the period. A.R.T. Advisors LLC raised its position in Freightcar America by 571.2% in the second quarter. A.R.T. Advisors LLC now owns 95,768 shares of the company’s stock worth $1,345,000 after buying an additional 81,500 shares during the period. Parametric Portfolio Associates LLC raised its position in Freightcar America by 8.9% in the second quarter. Parametric Portfolio Associates LLC now owns 205,065 shares of the company’s stock worth $2,881,000 after buying an additional 16,677 shares during the period. Van ECK Associates Corp raised its position in Freightcar America by 8.8% in the second quarter. Van ECK Associates Corp now owns 49,761 shares of the company’s stock worth $699,000 after buying an additional 4,008 shares during the period. Finally, Ancora Advisors LLC raised its position in Freightcar America by 1.7% in the second quarter. Ancora Advisors LLC now owns 35,800 shares of the company’s stock worth $503,000 after buying an additional 600 shares during the period. Hedge funds and other institutional investors own 76.34% of the company’s stock.
Freightcar America Company Profile
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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