FreightCar America, Inc. (RAIL) Given Consensus Recommendation of “Hold” by Brokerages
FreightCar America, Inc. (NASDAQ:RAIL) has been assigned an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has given a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $18.00.
A number of brokerages recently issued reports on RAIL. ValuEngine upgraded FreightCar America from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Zacks Investment Research upgraded FreightCar America from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Thursday, July 5th. Stifel Nicolaus set a $19.00 price target on FreightCar America and gave the company a “hold” rating in a report on Friday, August 3rd. Buckingham Research boosted their price target on FreightCar America from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, August 13th. Finally, Stephens reiterated a “hold” rating and issued a $19.00 price target on shares of FreightCar America in a report on Thursday, August 2nd.
Shares of NASDAQ:RAIL traded down $0.06 during trading hours on Tuesday, hitting $16.53. 24,800 shares of the company’s stock traded hands, compared to its average volume of 73,448. FreightCar America has a 1 year low of $12.53 and a 1 year high of $20.46. The firm has a market capitalization of $201.16 million, a PE ratio of -14.25 and a beta of 1.58.
Several hedge funds and other institutional investors have recently made changes to their positions in RAIL. BlackRock Inc. lifted its holdings in FreightCar America by 1.6% during the second quarter. BlackRock Inc. now owns 841,249 shares of the transportation company’s stock worth $14,125,000 after buying an additional 13,008 shares during the period. Royce & Associates LP lifted its holdings in FreightCar America by 15.0% during the second quarter. Royce & Associates LP now owns 1,460,910 shares of the transportation company’s stock worth $24,529,000 after buying an additional 190,689 shares during the period. Russell Investments Group Ltd. lifted its holdings in FreightCar America by 4.6% during the second quarter. Russell Investments Group Ltd. now owns 1,485,733 shares of the transportation company’s stock worth $24,937,000 after buying an additional 65,922 shares during the period. Fuller & Thaler Asset Management Inc. purchased a new stake in FreightCar America during the second quarter worth $224,000. Finally, SG Americas Securities LLC purchased a new stake in FreightCar America during the second quarter worth $115,000. Hedge funds and other institutional investors own 84.97% of the company’s stock.
About FreightCar America
FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.
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