Freightcar America Inc. (RAIL) Stock Price Down 8.2%
Freightcar America Inc. (NASDAQ:RAIL) dropped 8.2% during mid-day trading on Wednesday . The stock traded as low as $13.51 and last traded at $14.15, with a volume of 252,874 shares trading hands. The stock had previously closed at $15.42.
RAIL has been the subject of several research reports. Longbow Research downgraded Freightcar America from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 4th. Zacks Investment Research upgraded Freightcar America from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Stifel Nicolaus downgraded Freightcar America from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Cowen and Company initiated coverage on Freightcar America in a research note on Wednesday, June 22nd. They set 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 assigned a buy rating to the company’s stock. Freightcar America presently has a consensus rating of “Hold” and an average target price of $17.67.
The company has a 50-day moving average of $14.33 and a 200 day moving average of $16.07. The company has a market capitalization of $177.63 million and a price-to-earnings ratio of 3.82.
Freightcar America (NASDAQ:RAIL) last released its 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. The business earned $148 million during the quarter, compared to analyst estimates of $153.38 million. During the same quarter last year, the business earned ($0.17) earnings per share. The company’s quarterly revenue was up 60.1% on a year-over-year basis. Analysts expect that Freightcar America Inc. will post $1.30 earnings per share for the current year.
A number of large investors recently added to or reduced their stakes in the company. American Century Companies Inc. bought a new stake in Freightcar America during the fourth quarter valued at approximately $1,554,000. Russell Frank Co boosted 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 in the last quarter. Dimensional Fund Advisors LP boosted 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 valued at $12,457,000 after buying an additional 46,502 shares in the last quarter. Cornerstone Capital Management Holdings LLC. acquired a new position in Freightcar America during the fourth quarter valued at $1,072,000. Finally, Shell Asset Management Co. acquired a new position in Freightcar America during the fourth quarter valued at $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.
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