Penn Capital Management Company LLC Raises Stake in Freightcar America, Inc. $RAIL

Penn Capital Management Company LLC grew its position in Freightcar America, Inc. (NASDAQ:RAIL) by 134.7% in the second quarter, HoldingsChannel.com reports. The firm owned 339,200 shares of the transportation company’s stock after acquiring an additional 194,684 shares during the period. Penn Capital Management Company LLC’s holdings in Freightcar America were worth $3,304,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Formula Growth Ltd. bought a new stake in shares of Freightcar America during the 2nd quarter valued at $487,000. Bank of America Corp DE bought a new position in Freightcar America in the 2nd quarter worth $177,000. Man Group plc bought a new position in Freightcar America in the 2nd quarter worth $672,000. Ancora Advisors LLC purchased a new stake in Freightcar America in the 2nd quarter worth $62,000. Finally, Canada Pension Plan Investment Board purchased a new stake in Freightcar America in the 2nd quarter worth $249,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

Freightcar America Price Performance

RAIL stock opened at $7.17 on Friday. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.12 and a current ratio of 1.81. The company’s fifty day moving average price is $8.12 and its 200-day moving average price is $9.01. Freightcar America, Inc. has a one year low of $7.09 and a one year high of $14.90. The company has a market capitalization of $235.10 million, a PE ratio of -13.28 and a beta of 1.48.

Freightcar America (NASDAQ:RAIL) last posted its earnings results on Monday, August 3rd. The transportation company reported ($0.02) earnings per share for the quarter. The company had revenue of $113.14 million for the quarter, compared to analysts’ expectations of $110.41 million. Freightcar America had a negative net margin of 2.69% and a negative return on equity of 15.23%. On average, equities analysts anticipate that Freightcar America, Inc. will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RAIL has been the topic of several research analyst reports. Weiss Ratings downgraded Freightcar America from a “hold (c)” rating to a “sell (d)” rating in a research report on Tuesday, August 4th. Zacks Research upgraded Freightcar America from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Freightcar America has a consensus rating of “Reduce”.

Freightcar America Profile

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.