North Star Investment Management Corp. Purchases 64,000 Shares of Freightcar America, Inc. $RAIL

North Star Investment Management Corp. grew its position in shares of Freightcar America, Inc. (NASDAQ:RAIL) by 36.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 237,800 shares of the transportation company’s stock after buying an additional 64,000 shares during the period. North Star Investment Management Corp.’s holdings in Freightcar America were worth $1,895,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Legato Capital Management LLC purchased a new stake in Freightcar America during the third quarter valued at about $582,000. Hillsdale Investment Management Inc. increased its stake in shares of Freightcar America by 708.2% in the fourth quarter. Hillsdale Investment Management Inc. now owns 290,954 shares of the transportation company’s stock worth $3,221,000 after purchasing an additional 254,954 shares in the last quarter. Minerva Advisors LLC increased its stake in shares of Freightcar America by 18.1% in the third quarter. Minerva Advisors LLC now owns 258,546 shares of the transportation company’s stock worth $2,529,000 after purchasing an additional 39,541 shares in the last quarter. Penn Capital Management Company LLC purchased a new position in shares of Freightcar America in the fourth quarter worth about $734,000. Finally, Royal Bank of Canada raised its position in shares of Freightcar America by 2,843.5% in the fourth quarter. Royal Bank of Canada now owns 4,062 shares of the transportation company’s stock valued at $45,000 after purchasing an additional 3,924 shares during the period. Institutional investors own 31.96% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on RAIL. Weiss Ratings restated a “hold (c)” rating on shares of Freightcar America in a research note on Friday, June 5th. Wall Street Zen lowered shares of Freightcar America from a “buy” rating to a “hold” rating in a research note on Saturday, March 14th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, Freightcar America has an average rating of “Buy”.

Freightcar America Stock Performance

Shares of RAIL opened at $9.76 on Tuesday. The stock’s 50-day simple moving average is $8.35 and its 200 day simple moving average is $9.95. The stock has a market capitalization of $186.81 million, a price-to-earnings ratio of 13.19 and a beta of 1.48. Freightcar America, Inc. has a 52-week low of $7.27 and a 52-week high of $14.90.

Freightcar America (NASDAQ:RAIL) last issued its earnings results on Monday, May 4th. The transportation company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.06). The company had revenue of $64.31 million during the quarter, compared to the consensus estimate of $74.60 million. Freightcar America had a negative return on equity of 15.56% and a net margin of 6.25%. On average, research analysts forecast that Freightcar America, Inc. will post 0.4 earnings per share for the current fiscal year.

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.