Alliancebernstein L.P. Invests $212,000 in Freightcar America, Inc. (RAIL) Stock
Alliancebernstein L.P. bought a new position in shares of Freightcar America, Inc. (NASDAQ:RAIL) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 12,200 shares of the transportation company’s stock, valued at approximately $212,000. Alliancebernstein L.P. owned 0.10% of Freightcar America at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RAIL. Ameriprise Financial Inc. purchased a new stake in shares of Freightcar America during the 1st quarter worth approximately $155,000. Eagle Global Advisors LLC purchased a new stake in shares of Freightcar America during the 2nd quarter worth approximately $201,000. Rhumbline Advisers boosted its stake in shares of Freightcar America by 2.5% during the 2nd quarter. Rhumbline Advisers now owns 15,664 shares of the transportation company’s stock worth $272,000 after acquiring an additional 387 shares in the last quarter. Spark Investment Management LLC purchased a new stake in shares of Freightcar America during the 2nd quarter worth approximately $293,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Freightcar America during the 2nd quarter worth approximately $316,000. Institutional investors own 85.43% of the company’s stock.
RAIL has been the topic of several research analyst reports. Zacks Investment Research raised Freightcar America from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Tuesday, July 18th. Stifel Nicolaus reissued a “hold” rating and set a $14.00 price target (down previously from $15.00) on shares of Freightcar America in a research note on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Freightcar America has a consensus rating of “Hold” and an average target price of $16.25.
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Shares of Freightcar America, Inc. (NASDAQ:RAIL) opened at $15.50 on Tuesday. Freightcar America, Inc. has a 52 week low of $12.07 and a 52 week high of $20.46.
Freightcar America (NASDAQ:RAIL) last posted its earnings results on Wednesday, November 1st. The transportation company reported ($0.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.63). Freightcar America had a negative net margin of 2.44% and a negative return on equity of 2.56%. The company had revenue of $72.00 million during the quarter, compared to analysts’ expectations of $87.20 million. The firm’s quarterly revenue was down 36.6% on a year-over-year basis. equities research analysts predict that Freightcar America, Inc. will post -0.98 EPS for the current year.
In related news, Director S Carl Soderstrom, Jr. sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $15.01, for a total value of $30,020.00. Following the sale, the director now owns 18,204 shares of the company’s stock, valued at approximately $273,242.04. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James R. Meyer bought 10,000 shares of Freightcar America stock in a transaction that occurred on Wednesday, November 8th. The stock was bought at an average cost of $14.34 per share, for a total transaction of $143,400.00. Following the purchase, the insider now owns 2,619 shares in the company, valued at approximately $37,556.46. The disclosure for this purchase can be found here. 4.13% of the stock is currently owned by corporate insiders.
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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