Freightcar America, Inc. (NASDAQ:RAIL) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research downgraded shares of Freightcar America, Inc. (NASDAQ:RAIL) from a buy rating to a hold rating in a research note published on Tuesday, July 25th.
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. “
A number of other research analysts have also recently commented on the company. Cowen and Company reiterated a hold rating and issued a $15.00 price objective on shares of Freightcar America in a report on Tuesday, July 11th. Buckingham Research initiated coverage on Freightcar America in a research note on Wednesday, June 21st. They set a neutral rating and a $17.00 price target on the stock. Finally, ValuEngine upgraded Freightcar America from a sell rating to a hold rating in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. The company has an average rating of Hold and a consensus price target of $16.00.
Shares of Freightcar America (NASDAQ:RAIL) traded up 0.24% during midday trading on Tuesday, hitting $17.06. The stock had a trading volume of 45,320 shares. The stock has a market cap of $212.02 million, a PE ratio of 656.15 and a beta of 1.60. The stock’s 50-day moving average is $17.30 and its 200-day moving average is $15.38. Freightcar America has a 12 month low of $10.87 and a 12 month high of $19.66.
Freightcar America (NASDAQ:RAIL) last released its quarterly earnings data on Wednesday, August 2nd. The transportation company reported ($0.04) EPS for the quarter, meeting analysts’ consensus estimates of ($0.04). Freightcar America had a return on equity of 1.61% and a net margin of 0.06%. The firm had revenue of $118.67 million for the quarter, compared to analysts’ expectations of $108.43 million. During the same period in the prior year, the firm posted ($0.04) earnings per share. The firm’s quarterly revenue was down 5.9% on a year-over-year basis. Equities analysts anticipate that Freightcar America will post ($0.21) EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Stockholders of record on Thursday, August 17th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Tuesday, August 15th. Freightcar America’s payout ratio is currently 1,800.00%.
In other news, insider Theodore W. Baun sold 4,481 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $17.25, for a total value of $77,297.25. Following the sale, the insider now directly owns 14,502 shares in the company, valued at $250,159.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.13% of the stock is currently owned by company insiders.
Several hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Freightcar America during the second quarter valued at about $422,000. Sterling Capital Management LLC bought a new stake in shares of Freightcar America during the second quarter valued at about $801,000. The Manufacturers Life Insurance Company boosted its stake in shares of Freightcar America by 6.7% in the second quarter. The Manufacturers Life Insurance Company now owns 18,950 shares of the transportation company’s stock valued at $330,000 after buying an additional 1,196 shares during the last quarter. State Street Corp boosted its stake in shares of Freightcar America by 6.9% in the second quarter. State Street Corp now owns 231,566 shares of the transportation company’s stock valued at $4,028,000 after buying an additional 14,994 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. bought a new stake in shares of Freightcar America during the second quarter valued at about $1,136,000. Institutional investors and hedge funds own 74.79% of the company’s stock.
Freightcar America Company Profile
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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