Freightcar America (NASDAQ:RAIL) Rating Lowered to Hold at Wall Street Zen

Freightcar America (NASDAQ:RAIL) was downgraded by investment analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued on Saturday.

Several other equities research analysts have also recently weighed in on the company. Zacks Research upgraded Freightcar America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Weiss Ratings lowered Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Freightcar America Stock Performance

RAIL stock opened at $9.06 on Friday. Freightcar America has a 52 week low of $4.31 and a 52 week high of $13.64. The firm’s fifty day moving average is $8.84 and its 200 day moving average is $9.16. The firm has a market cap of $172.86 million, a P/E ratio of 3.43 and a beta of 1.66.

Freightcar America (NASDAQ:RAIL) last posted its quarterly earnings results on Monday, November 10th. The transportation company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.08. Freightcar America had a net margin of 17.40% and a negative return on equity of 17.35%. The business had revenue of $160.51 million during the quarter, compared to the consensus estimate of $157.25 million. As a group, analysts forecast that Freightcar America will post 0.09 EPS for the current year.

Hedge Funds Weigh In On Freightcar America

Several hedge funds have recently made changes to their positions in the business. Sender Co & Partners Inc. bought a new position in shares of Freightcar America during the third quarter valued at approximately $127,000. PharVision Advisers LLC purchased a new position in Freightcar America during the 3rd quarter valued at $288,000. Quarry LP purchased a new position in Freightcar America during the 3rd quarter valued at $53,000. Qube Research & Technologies Ltd bought a new position in Freightcar America in the 3rd quarter worth $321,000. Finally, Centiva Capital LP purchased a new stake in shares of Freightcar America in the 3rd quarter worth about $135,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

Freightcar America Company Profile

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.