Wall Street Zen Downgrades Freightcar America (NASDAQ:RAIL) to Hold

Freightcar America (NASDAQ:RAIL) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

Separately, Weiss Ratings raised shares of Freightcar America from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Freightcar America presently has an average rating of “Buy” and a consensus price target of $9.00.

Freightcar America Stock Down 4.6%

Shares of NASDAQ RAIL opened at $8.28 on Friday. The company has a market cap of $157.90 million, a P/E ratio of 7.46 and a beta of 1.75. Freightcar America has a 52 week low of $4.31 and a 52 week high of $14.90. The business has a 50-day simple moving average of $12.17 and a two-hundred day simple moving average of $10.22.

Freightcar America (NASDAQ:RAIL) last announced its quarterly earnings results on Monday, March 9th. The transportation company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). Freightcar America had a net margin of 7.61% and a negative return on equity of 15.54%. The company had revenue of $125.57 million for the quarter, compared to the consensus estimate of $144.95 million. Equities research analysts anticipate that Freightcar America will post 0.09 EPS for the current year.

Institutional Investors Weigh In On Freightcar America

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. BNP Paribas Financial Markets boosted its holdings in Freightcar America by 208.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 1,984 shares during the period. Royal Bank of Canada increased its stake in Freightcar America by 2,843.5% in the 4th quarter. Royal Bank of Canada now owns 4,062 shares of the transportation company’s stock worth $45,000 after purchasing an additional 3,924 shares during the period. Quarry LP bought a new stake in Freightcar America in the third quarter valued at approximately $53,000. State of Wyoming bought a new stake in Freightcar America in the second quarter valued at approximately $63,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Freightcar America during the first quarter valued at approximately $61,000. Institutional investors own 31.96% of the company’s stock.

About Freightcar America

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.