Freightcar America Inc. (RAIL) Shares Down 3.1%
Shares of Freightcar America Inc. (NASDAQ:RAIL) dropped 3.1% during trading on Tuesday . The company traded as low as $14.07 and last traded at $14.21, with a volume of 68,697 shares. The stock had previously closed at $14.67.
RAIL has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their price target on shares of Freightcar America from $20.00 to $17.00 and set a “buy” rating for the company in a research note on Wednesday, May 4th. Zacks Investment Research raised shares of Freightcar America from a “strong sell” rating to a “hold” rating in a report on Wednesday, April 27th. Cowen and Company assumed coverage on shares of Freightcar America in a report on Wednesday, June 22nd. They issued a “market perform” rating and a $15.00 price objective on the stock. Finally, Longbow Research downgraded shares of 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 issued a hold rating and one has given a buy rating to the company. Freightcar America currently has an average rating of “Hold” and a consensus target price of $17.67.
The stock has a 50-day moving average price of $14.31 and a 200-day moving average price of $15.51. The firm has a market cap of $173.67 million and a P/E ratio of 4.47.
Freightcar America (NASDAQ:RAIL) last announced its quarterly earnings data on Monday, August 1st. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.47. The business earned $126.20 million during the quarter, compared to the consensus estimate of $163.43 million. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s quarterly revenue was down 46.4% compared to the same quarter last year. On average, analysts expect that Freightcar America Inc. will post $0.60 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 24th. Shareholders of record on Thursday, August 18th will be issued a $0.09 dividend. The ex-dividend date is Tuesday, August 16th. This represents a $0.36 dividend on an annualized basis and a yield of 2.57%.
A hedge fund recently bought a new stake in Freightcar America stock. Cornerstone Capital Management Holdings LLC. bought a new position in Freightcar America Inc. (NASDAQ:RAIL) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 55,160 shares of the company’s stock, valued at approximately $1,072,000. Cornerstone Capital Management Holdings LLC. owned about 0.45% of Freightcar America as of its most recent SEC filing.
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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