Freightcar America (NASDAQ:RAIL) Downgraded by Zacks Research to Strong Sell

Freightcar America (NASDAQ:RAIL) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday, Zacks reports.

Separately, Weiss Ratings cut Freightcar America from a “hold (c)” rating to a “sell (d)” rating in a research report on Tuesday, August 4th. Two investment analysts have rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock has an average rating of “Sell”.

Freightcar America Price Performance

NASDAQ RAIL opened at $4.30 on Wednesday. The company has a fifty day simple moving average of $6.73 and a 200 day simple moving average of $7.77. Freightcar America has a 1 year low of $3.85 and a 1 year high of $14.90. The company has a market cap of $141.00 million, a P/E ratio of -7.96 and a beta of 1.42. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 2.70.

Freightcar America (NASDAQ:RAIL) last released its earnings results on Monday, August 3rd. The transportation company reported ($0.02) earnings per share (EPS) for the quarter. The business had revenue of $113.14 million during the quarter, compared to analyst estimates 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, sell-side analysts predict that Freightcar America will post 0.21 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new position in Freightcar America during the second quarter worth $9,338,000. Diamond Hill Capital Management LLC Investment Advisor acquired a new stake in Freightcar America during the 2nd quarter worth approximately $3,584,000. Penn Capital Management Company LLC lifted its holdings in shares of Freightcar America by 134.7% during the second quarter. Penn Capital Management Company LLC now owns 339,200 shares of the transportation company’s stock worth $3,304,000 after buying an additional 194,684 shares in the last quarter. Nwam LLC acquired a new stake in Freightcar America in the 2nd quarter worth about $3,123,000. Finally, North Star Investment Management Corp. raised its holdings in Freightcar America by 36.8% in the 1st quarter. North Star Investment Management Corp. now owns 237,800 shares of the transportation company’s stock valued at $1,895,000 after acquiring an additional 64,000 shares in the last quarter. 31.96% of the stock is owned by institutional investors and hedge funds.

Freightcar America Company Profile

FreightCar America, Inc is a railcar manufacturer that has historically designed and produced freight transportation equipment for the North American rail industry. Its customers have included railroads, railcar leasing companies and industrial shippers that use specialized railcars to move bulk commodities, manufactured goods and other freight.

The company’s product portfolio has included aluminum-bodied open-top hopper cars, gondolas, covered hopper cars, boxcars, coil cars, flatcars and intermodal railcars.