Freightcar America, Inc. (RAIL) Stock Rating Lowered by Zacks Investment Research
Zacks Investment Research cut shares of Freightcar America, Inc. (NASDAQ:RAIL) from a hold rating to a sell rating in a report released on Wednesday, August 9th.
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. “
RAIL has been the subject of a number of other reports. ValuEngine raised Freightcar America from a sell rating to a hold rating in a report on Friday, June 2nd. Cowen and Company reissued a hold rating and set a $15.00 price objective on shares of Freightcar America in a research note on Tuesday, July 11th. Finally, Buckingham Research started coverage on Freightcar America in a research note on Wednesday, June 21st. They set a neutral rating and a $17.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Freightcar America presently has a consensus rating of Hold and a consensus target price of $16.00.
Shares of Freightcar America (NASDAQ RAIL) traded up 0.24% during trading on Wednesday, reaching $17.06. The company’s stock had a trading volume of 45,320 shares. The stock has a 50-day moving average of $17.30 and a 200-day moving average of $15.38. The stock has a market cap of $212.02 million, a P/E ratio of 656.15 and a beta of 1.60. Freightcar America has a 52-week low of $10.87 and a 52-week high of $19.66.
Freightcar America (NASDAQ:RAIL) last posted its quarterly earnings results on Wednesday, August 2nd. The transportation company reported ($0.04) EPS for the quarter, hitting the Zacks’ consensus estimate 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 during the quarter, compared to analyst estimates of $108.43 million. During the same period last year, the company earned ($0.04) earnings per share. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. Analysts predict that Freightcar America will post ($0.21) earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Investors of record on Thursday, August 17th will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 2.11%. The ex-dividend date is Tuesday, August 15th. Freightcar America’s dividend payout ratio is 1,800.00%.
In related news, insider Theodore W. Baun sold 4,481 shares of Freightcar America stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $17.25, for a total transaction of $77,297.25. Following the completion of the sale, the insider now owns 14,502 shares of the company’s stock, valued at $250,159.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 4.13% of the stock is currently owned by company insiders.
Large investors have recently bought and sold shares of the stock. Wells Fargo & Company MN raised its stake in Freightcar America by 83.6% in the first quarter. Wells Fargo & Company MN now owns 619,186 shares of the transportation company’s stock valued at $7,758,000 after buying an additional 281,985 shares in the last quarter. Numeric Investors LLC purchased a new stake in Freightcar America during the second quarter worth $3,680,000. AJO LP purchased a new stake in Freightcar America during the second quarter worth $3,564,000. Royce & Associates LP increased its stake in Freightcar America by 20.1% in the first quarter. Royce & Associates LP now owns 1,218,306 shares of the transportation company’s stock worth $15,265,000 after buying an additional 204,022 shares during the last quarter. Finally, Uniplan Investment Counsel Inc. increased its stake in Freightcar America by 58.2% in the second quarter. Uniplan Investment Counsel Inc. now owns 338,821 shares of the transportation company’s stock worth $5,892,000 after buying an additional 124,705 shares during the last quarter. 74.79% of the stock is 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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