Zacks Investment Research Upgrades Freightcar America, Inc. (RAIL) to Hold
Freightcar America, Inc. (NASDAQ:RAIL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
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. “
Other analysts also recently issued research reports about the stock. Cowen and Company reissued a “hold” rating and set a $15.00 price target on shares of Freightcar America in a research report on Tuesday, July 11th. ValuEngine raised shares of Freightcar America from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Buckingham Research assumed coverage on shares of Freightcar America in a research report on Wednesday, June 21st. They set a “neutral” rating and a $17.00 price target for the company. Five equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average price target of $16.50.
Shares of Freightcar America (NASDAQ RAIL) traded down 1.44% during mid-day trading on Wednesday, hitting $18.42. 711 shares of the stock traded hands. The stock has a market cap of $228.92 million, a PE ratio of 708.46 and a beta of 1.61. The stock has a 50-day moving average of $17.61 and a 200 day moving average of $15.89. Freightcar America has a one year low of $10.87 and a one year high of $19.66.
Freightcar America (NASDAQ:RAIL) last released its quarterly earnings results on Wednesday, August 2nd. The transportation company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). Freightcar America had a net margin of 0.06% and a return on equity of 1.61%. The business had revenue of $118.67 million during the quarter, compared to the consensus estimate of $108.43 million. During the same quarter last year, the company earned ($0.04) earnings per share. The business’s quarterly revenue was down 5.9% compared to the same quarter last year. Equities analysts predict that Freightcar America will post ($0.21) EPS for the current fiscal year.
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Hedge funds have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its stake in Freightcar America by 2.5% during the second quarter. Rhumbline Advisers now owns 15,664 shares of the transportation company’s stock worth $272,000 after purchasing an additional 387 shares during the last quarter. Ironwood Investment Management LLC lifted its stake in Freightcar America by 3.8% during the first quarter. Ironwood Investment Management LLC now owns 11,730 shares of the transportation company’s stock worth $147,000 after purchasing an additional 433 shares during the last quarter. Malaga Cove Capital LLC lifted its stake in Freightcar America by 3.0% during the second quarter. Malaga Cove Capital LLC now owns 23,676 shares of the transportation company’s stock worth $413,000 after purchasing an additional 700 shares during the last quarter. Steelhead Partners LLC lifted its stake in Freightcar America by 2.9% during the first quarter. Steelhead Partners LLC now owns 38,600 shares of the transportation company’s stock worth $484,000 after purchasing an additional 1,100 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Freightcar America by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 18,950 shares of the transportation company’s stock worth $330,000 after purchasing an additional 1,196 shares during the last quarter. 82.74% of the stock is owned by institutional investors and hedge funds.
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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