Freightcar America, Inc. (RAIL) Position Increased by Bank of New York Mellon Corp
Bank of New York Mellon Corp boosted its holdings in shares of Freightcar America, Inc. (NASDAQ:RAIL) by 1.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 219,916 shares of the transportation company’s stock after purchasing an additional 3,831 shares during the quarter. Bank of New York Mellon Corp owned about 1.77% of Freightcar America worth $3,825,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in RAIL. Ironwood Investment Management LLC boosted its stake in Freightcar America by 3.8% during the 1st quarter. Ironwood Investment Management LLC now owns 11,730 shares of the transportation company’s stock valued at $147,000 after purchasing an additional 433 shares during the period. Ameriprise Financial Inc. bought a new stake in Freightcar America during the 1st quarter valued at approximately $155,000. Eagle Global Advisors LLC bought a new stake in Freightcar America during the 2nd quarter valued at approximately $201,000. Rhumbline Advisers boosted its stake in Freightcar America by 2.5% during the 2nd quarter. Rhumbline Advisers now owns 15,664 shares of the transportation company’s stock valued at $272,000 after purchasing an additional 387 shares during the period. Finally, Spark Investment Management LLC bought a new stake in Freightcar America during the 2nd quarter valued at approximately $293,000. Hedge funds and other institutional investors own 82.74% of the company’s stock.
RAIL has been the subject of several recent analyst reports. Buckingham Research initiated coverage on Freightcar America in a research note on Wednesday, June 21st. They set a “neutral” rating and a $17.00 target price for the company. Stifel Nicolaus restated a “hold” rating and set a $15.00 target price on shares of Freightcar America in a research note on Thursday, September 21st. Zacks Investment Research downgraded Freightcar America from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Cowen and Company restated a “hold” rating and set a $15.00 target price on shares of Freightcar America in a research note on Tuesday, July 11th. Five research analysts have rated the stock with a hold rating, Freightcar America currently has an average rating of “Hold” and a consensus price target of $16.50.
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Shares of Freightcar America, Inc. (NASDAQ:RAIL) opened at 19.53 on Friday. Freightcar America, Inc. has a 52 week low of $10.87 and a 52 week high of $20.46. The company has a market cap of $242.72 million, a P/E ratio of 751.15 and a beta of 1.63. The company’s 50-day moving average price is $18.23 and its 200 day moving average price is $16.45.
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 analysts’ consensus estimates of ($0.04). Freightcar America had a return on equity of 1.61% and a net margin of 0.06%. The business had revenue of $118.67 million during the quarter, compared to analysts’ expectations of $108.43 million. During the same quarter last year, the company posted ($0.04) earnings per share. Freightcar America’s quarterly revenue was down 5.9% on a year-over-year basis. On average, equities analysts forecast that Freightcar America, Inc. will post ($0.21) EPS for the current fiscal year.
Freightcar America 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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