FreightCar America, Inc. (NASDAQ:RAIL) shares traded down 3.2% on Friday . The company traded as low as $10.51 and last traded at $10.45. 2,621 shares traded hands during mid-day trading, a decline of 93% from the average session volume of 37,236 shares. The stock had previously closed at $10.80.
A number of research analysts recently weighed in on the stock. Stifel Nicolaus set a $19.00 price objective on shares of FreightCar America and gave the company a “hold” rating in a research note on Friday, August 3rd. Stephens reissued a “hold” rating and issued a $19.00 price target on shares of FreightCar America in a report on Thursday, August 2nd. Buckingham Research lifted their price objective on shares of FreightCar America from $16.00 to $19.00 and gave the stock a “neutral” rating in a report on Monday, August 13th. ValuEngine raised shares of FreightCar America from a “hold” rating to a “buy” rating in a report on Tuesday, July 10th. Finally, Zacks Investment Research downgraded shares of FreightCar America from a “strong-buy” rating to a “hold” rating in a report on Wednesday, October 17th. Eight equities research analysts have rated the stock with a hold rating, FreightCar America currently has a consensus rating of “Hold” and a consensus target price of $18.00.
The stock has a market capitalization of $126.88 million, a P/E ratio of -8.78 and a beta of 1.50.
FreightCar America (NASDAQ:RAIL) last issued its earnings results on Wednesday, October 31st. The transportation company reported ($0.50) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.24). The business had revenue of $78.97 million during the quarter, compared to analysts’ expectations of $66.00 million. FreightCar America had a negative return on equity of 9.71% and a negative net margin of 8.46%. Equities research analysts forecast that FreightCar America, Inc. will post -1.17 earnings per share for the current year.
A number of large investors have recently modified their holdings of RAIL. Royce & Associates LP raised its position in FreightCar America by 15.0% in the 2nd quarter. Royce & Associates LP now owns 1,460,910 shares of the transportation company’s stock worth $24,529,000 after purchasing an additional 190,689 shares during the period. Russell Investments Group Ltd. raised its position in FreightCar America by 4.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,485,733 shares of the transportation company’s stock worth $24,937,000 after purchasing an additional 65,922 shares during the period. JPMorgan Chase & Co. raised its position in FreightCar America by 109.5% in the 1st quarter. JPMorgan Chase & Co. now owns 109,421 shares of the transportation company’s stock worth $1,466,000 after purchasing an additional 57,198 shares during the period. Wells Fargo & Company MN raised its position in FreightCar America by 4.1% in the 2nd quarter. Wells Fargo & Company MN now owns 760,776 shares of the transportation company’s stock worth $12,783,000 after purchasing an additional 30,042 shares during the period. Finally, Chicago Equity Partners LLC purchased a new position in FreightCar America in the 3rd quarter worth $476,000. Institutional investors own 84.82% of the company’s stock.
About FreightCar America (NASDAQ:RAIL)
FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.
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