Legato Capital Management LLC Purchases Shares of 59,477 Freightcar America, Inc. $RAIL

Legato Capital Management LLC acquired a new position in shares of Freightcar America, Inc. (NASDAQ:RAIL) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 59,477 shares of the transportation company’s stock, valued at approximately $582,000.

Other institutional investors also recently modified their holdings of the company. Essex Investment Management Co. LLC bought a new position in Freightcar America during the third quarter worth $2,007,000. JPMorgan Chase & Co. acquired a new position in shares of Freightcar America during the second quarter valued at about $813,000. Diamond Hill Capital Management Inc. bought a new position in shares of Freightcar America during the 3rd quarter worth about $501,000. Goldman Sachs Group Inc. boosted its position in shares of Freightcar America by 58.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 106,656 shares of the transportation company’s stock worth $590,000 after purchasing an additional 39,506 shares in the last quarter. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Freightcar America in the 2nd quarter valued at about $327,000. Institutional investors and hedge funds own 31.96% of the company’s stock.

Freightcar America Trading Down 0.6%

Shares of Freightcar America stock opened at $13.48 on Thursday. The company has a market capitalization of $257.20 million, a P/E ratio of 5.11 and a beta of 1.75. The stock has a fifty day simple moving average of $12.25 and a 200 day simple moving average of $10.10. Freightcar America, Inc. has a 12-month low of $4.31 and a 12-month high of $14.90.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on RAIL shares. Wall Street Zen raised Freightcar America from a “hold” rating to a “buy” rating in a research note on Sunday, December 28th. Weiss Ratings raised Freightcar America from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $9.00.

About Freightcar America

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.