Zacks Investment Research upgraded shares of Freightcar America, Inc. (NASDAQ:RAIL) from a sell rating to a hold rating in a research note released on Wednesday, October 18th.
According to Zacks, “FreightCar America, Inc. manufactures railroad freight cars, with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds flat cars, mill gondola cars, intermodal cars, coil steel cars and motor vehicle carriers. It is headquartered in Chicago, Illinois and has manufacturing facilities in Danville, Illinois, Roanoke, Virginia and Johnstown, Pennsylvania. “
Other research analysts have also recently issued reports about the stock. Cowen and Company restated a hold rating and issued a $15.00 price target on shares of Freightcar America in a research report on Tuesday, July 11th. Stifel Nicolaus restated a hold rating and issued a $15.00 price target on shares of Freightcar America in a research report on Thursday, September 21st. Finally, Buckingham Research began coverage on shares of Freightcar America in a research report on Wednesday, June 21st. They issued a neutral rating and a $17.00 price target for the company. Five investment analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and a consensus target price of $16.50.
Shares of Freightcar America (RAIL) traded down 2.32% on Wednesday, hitting $18.92. The stock had a trading volume of 89,224 shares. Freightcar America has a 12-month low of $10.87 and a 12-month high of $20.46. The firm has a market cap of $235.14 million, a price-to-earnings ratio of 727.69 and a beta of 1.63. The stock has a 50 day moving average of $18.94 and a 200 day moving average of $17.15.
Freightcar America (NASDAQ:RAIL) last posted its earnings results on Wednesday, August 2nd. The transportation company reported ($0.04) EPS for the quarter, hitting the consensus estimate of ($0.04). The firm had revenue of $118.67 million during the quarter, compared to analysts’ expectations of $108.43 million. Freightcar America had a net margin of 0.06% and a return on equity of 1.61%. Freightcar America’s quarterly revenue was down 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) EPS. Equities analysts predict that Freightcar America will post ($0.21) earnings per share for the current fiscal year.
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Large investors have recently bought and sold shares of the stock. Eagle Global Advisors LLC acquired a new position in Freightcar America in the 2nd quarter valued at $201,000. Ironwood Investment Management LLC grew its stake in Freightcar America by 3.8% in the 1st quarter. Ironwood Investment Management LLC now owns 11,730 shares of the transportation company’s stock valued at $147,000 after buying an additional 433 shares during the last quarter. Alliancebernstein L.P. acquired a new position in Freightcar America in the 2nd quarter valued at $212,000. Ameriprise Financial Inc. bought a new stake in Freightcar America in the 1st quarter valued at $155,000. Finally, Virtu KCG Holdings LLC bought a new stake in Freightcar America in the 2nd quarter valued at $258,000. Institutional investors and hedge funds own 83.66% of the company’s stock.
Freightcar America Company 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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