Freightcar America (NASDAQ:RAIL) Stock Gets Downgrade from Zacks Research

Freightcar America (NASDAQ:RAIL) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Wednesday, Zacks reports.

Separately, Weiss Ratings cut Freightcar America from a “hold (c)” rating to a “sell (d)” rating in a research note on Tuesday, August 4th. Two analysts have rated the stock with a Sell rating. According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Freightcar America Price Performance

Shares of NASDAQ:RAIL opened at $4.30 on Wednesday. The company has a 50-day simple moving average of $6.73 and a 200-day simple moving average of $7.77. Freightcar America has a one year low of $3.85 and a one year high of $14.90. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.12 and a current ratio of 1.81. The stock has a market capitalization of $141.00 million, a price-to-earnings ratio of -7.96 and a beta of 1.42.

Freightcar America (NASDAQ:RAIL) last announced its earnings results on Monday, August 3rd. The transportation company reported ($0.02) earnings per share for the quarter. The business had revenue of $113.14 million for the quarter, compared to analyst estimates of $110.41 million. Freightcar America had a negative return on equity of 15.23% and a negative net margin of 2.69%. On average, analysts predict that Freightcar America will post 0.21 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Ancora Advisors LLC acquired a new stake in Freightcar America in the second quarter valued at about $62,000. Bank of New York Mellon Corp boosted its holdings in Freightcar America by 14.0% in the 1st quarter. Bank of New York Mellon Corp now owns 82,402 shares of the transportation company’s stock valued at $657,000 after purchasing an additional 10,132 shares in the last quarter. Sigma Planning Corp acquired a new position in Freightcar America during the 2nd quarter worth approximately $111,000. Ritholtz Wealth Management increased its position in Freightcar America by 55.0% during the 1st quarter. Ritholtz Wealth Management now owns 37,707 shares of the transportation company’s stock worth $301,000 after purchasing an additional 13,373 shares during the period. Finally, Deutsche Bank AG acquired a new position in Freightcar America during the 2nd quarter worth approximately $144,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

About Freightcar America

FreightCar America, Inc is a railcar manufacturer that has historically designed and produced freight transportation equipment for the North American rail industry. Its customers have included railroads, railcar leasing companies and industrial shippers that use specialized railcars to move bulk commodities, manufactured goods and other freight.

The company’s product portfolio has included aluminum-bodied open-top hopper cars, gondolas, covered hopper cars, boxcars, coil cars, flatcars and intermodal railcars.