Freightcar America Inc. (RAIL) Stock Price Up 6.3%
Freightcar America Inc. (NASDAQ:RAIL)’s share price rose 6.3% during mid-day trading on Friday . The company traded as high as $14.60 and last traded at $14.54, with a volume of 96,050 shares trading hands. The stock had previously closed at $13.68.
RAIL has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Freightcar America from a “strong sell” rating to a “hold” rating in a research note on Wednesday, April 27th. Longbow Research downgraded shares of Freightcar America from a “buy” rating to a “neutral” rating in a research note on Wednesday, May 4th. Stifel Nicolaus dropped their price objective on shares of Freightcar America from $20.00 to $17.00 and set a “buy” rating on the stock in a research note on Wednesday, May 4th. Finally, Cowen and Company initiated coverage on shares of Freightcar America in a research note on Wednesday, June 22nd. They set a “market perform” rating and a $15.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.67.
The stock has a market capitalization of $177.54 million and a P/E ratio of 4.62. The firm’s 50 day moving average is $14.32 and its 200 day moving average is $15.59.
Freightcar America (NASDAQ:RAIL) last posted its earnings results on Monday, August 1st. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.47. During the same quarter last year, the firm earned $0.60 EPS. The business had revenue of $126.20 million for the quarter, compared to the consensus estimate of $163.43 million. Freightcar America’s revenue was down 46.4% compared to the same quarter last year. Analysts anticipate that Freightcar America Inc. will post $0.60 EPS for the current year.
A hedge fund recently bought a new stake in Freightcar America stock. Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Freightcar America Inc. (NASDAQ:RAIL) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 55,160 shares of the company’s stock, valued at approximately $1,072,000. Cornerstone Capital Management Holdings LLC. owned 0.45% of Freightcar America at the end of the most recent 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.
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