Freightcar America Inc. (RAIL) Upgraded by Zacks Investment Research to Hold
Freightcar America Inc. (NASDAQ:RAIL) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “FreightCar America, Inc. manufactures railroad freight cars, with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds flat cars, mill gondola cars, intermodal cars, coil steel cars and motor vehicle carriers. It is headquartered in Chicago, Illinois and has manufacturing facilities in Danville, Illinois, Roanoke, Virginia and Johnstown, Pennsylvania. “
Several other research firms have also issued reports on RAIL. Cowen and Company began coverage on shares of Freightcar America in a report on Wednesday, June 22nd. They issued a “market perform” rating and a $15.00 target price for the company. Stifel Nicolaus lowered shares of Freightcar America from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Freightcar America currently has an average rating of “Hold” and a consensus target price of $17.67.
Freightcar America (NASDAQ:RAIL) traded up 2.24% during midday trading on Wednesday, reaching $14.61. 17,257 shares of the company traded hands. The company has a 50 day moving average price of $14.17 and a 200-day moving average price of $14.61. The stock has a market capitalization of $180.97 million, a P/E ratio of 4.66 and a beta of 1.81. Freightcar America has a one year low of $12.56 and a one year high of $24.95.
Freightcar America (NASDAQ:RAIL) last released its quarterly earnings data on Monday, August 1st. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.47. Freightcar America had a net margin of 5.38% and a return on equity of 10.87%. The business had revenue of $126.20 million for the quarter, compared to the consensus estimate of $163.43 million. During the same quarter last year, the business earned $0.60 EPS. Freightcar America’s revenue for the quarter was down 46.4% compared to the same quarter last year. Analysts forecast that Freightcar America will post $0.60 EPS for the current fiscal year.
In other news, VP Matthew S. Kohnke bought 7,500 shares of the stock in a transaction dated Thursday, August 11th. The stock was purchased at an average price of $14.07 per share, for a total transaction of $105,525.00. Following the acquisition, the vice president now owns 2,100 shares of the company’s stock, valued at $29,547. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 3.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of RAIL. Boston Partners increased its position in Freightcar America by 27.2% in the second quarter. Boston Partners now owns 1,384,881 shares of the company’s stock valued at $19,457,000 after buying an additional 296,441 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Freightcar America by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 873,885 shares of the company’s stock valued at $12,278,000 after buying an additional 79,728 shares in the last quarter. Shufro Rose & Co. LLC increased its position in Freightcar America by 6.6% in the first quarter. Shufro Rose & Co. LLC now owns 498,951 shares of the company’s stock valued at $7,774,000 after buying an additional 30,716 shares in the last quarter. JPMorgan Chase & Co. increased its position in Freightcar America by 117,414.2% in the first quarter. JPMorgan Chase & Co. now owns 498,260 shares of the company’s stock valued at $7,764,000 after buying an additional 497,836 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in Freightcar America by 2.1% in the second quarter. Vanguard Group Inc. now owns 454,327 shares of the company’s stock valued at $6,384,000 after buying an additional 9,476 shares in the last quarter. 76.34% of the stock is currently owned by institutional investors.
About Freightcar America
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
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