Zacks Investment Research lowered shares of FreightCar America (NASDAQ:RAIL) from a hold rating to a sell rating in a report issued on Friday morning.
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. “
A number of other equities analysts also recently issued reports on the company. ValuEngine downgraded FreightCar America from a hold rating to a sell rating in a research note on Saturday, January 13th. Seaport Global Securities initiated coverage on FreightCar America in a research note on Thursday, January 4th. They issued a neutral rating on the stock. Finally, Stifel Nicolaus reiterated a hold rating and set a $14.00 target price (down from $15.00) on shares of FreightCar America in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating and four have issued a hold rating to the company. FreightCar America has an average rating of Hold and an average target price of $16.25.
FreightCar America (RAIL) opened at $15.60 on Friday. The stock has a market capitalization of $193.38, a price-to-earnings ratio of -16.96 and a beta of 1.46. FreightCar America has a 52 week low of $12.07 and a 52 week high of $20.46.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC lifted its position in FreightCar America by 234.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,875 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 6,221 shares in the last quarter. KBC Group NV purchased a new position in FreightCar America during the third quarter valued at $178,000. Alliancebernstein L.P. purchased a new position in FreightCar America during the second quarter valued at $212,000. Investors Research Corp purchased a new position in FreightCar America during the fourth quarter valued at $233,000. Finally, Virtu KCG Holdings LLC purchased a new position in FreightCar America during the second quarter valued at $258,000. Institutional investors own 87.39% of the company’s stock.
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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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