FreightCar America (RAIL) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of FreightCar America (NASDAQ:RAIL) from a hold rating to a sell rating in a report published on Wednesday 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. “

Several other analysts have also weighed in on RAIL. ValuEngine raised FreightCar America from a hold rating to a buy rating in a report on Tuesday, July 10th. Buckingham Research lifted their price objective on FreightCar America from $16.00 to $19.00 and gave the stock a neutral rating in a report on Monday, August 13th. Stifel Nicolaus set a $19.00 price objective on FreightCar America and gave the stock a hold rating in a report on Friday, August 3rd. Stephens reissued a hold rating and set a $19.00 price objective on shares of FreightCar America in a report on Thursday, August 2nd. Finally, CL King lowered FreightCar America from a buy rating to a neutral rating in a report on Thursday, November 1st. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. The company has an average rating of Hold and a consensus target price of $18.00.

NASDAQ RAIL traded down $0.15 during trading on Wednesday, hitting $10.31. The company’s stock had a trading volume of 134,586 shares, compared to its average volume of 95,804. The company has a market cap of $123.87 million, a P/E ratio of -8.89 and a beta of 1.50. FreightCar America has a 52 week low of $9.40 and a 52 week high of $20.14.

FreightCar America (NASDAQ:RAIL) last issued its quarterly earnings results on Wednesday, October 31st. The transportation company reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.24). The business had revenue of $78.97 million during the quarter, compared to the consensus estimate of $66.00 million. FreightCar America had a negative return on equity of 9.80% and a negative net margin of 8.46%. Sell-side analysts expect that FreightCar America will post -1.29 earnings per share for the current year.

In related news, insider James R. Meyer purchased 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 7th. The shares were acquired at an average price of $9.86 per share, with a total value of $49,300.00. Following the purchase, the insider now directly owns 35,006 shares in the company, valued at $345,159.16. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.51% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the stock. Russell Investments Group Ltd. boosted its stake in FreightCar America by 1.4% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,506,124 shares of the transportation company’s stock valued at $24,203,000 after buying an additional 20,391 shares in the last quarter. Royce & Associates LP boosted its stake 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 valued at $24,529,000 after buying an additional 190,689 shares in the last quarter. BlackRock Inc. boosted its stake in FreightCar America by 1.1% in the 3rd quarter. BlackRock Inc. now owns 850,136 shares of the transportation company’s stock valued at $13,662,000 after buying an additional 8,887 shares in the last quarter. Wells Fargo & Company MN boosted its stake 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 valued at $12,783,000 after buying an additional 30,042 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in FreightCar America by 109.5% in the 1st quarter. JPMorgan Chase & Co. now owns 109,421 shares of the transportation company’s stock valued at $1,466,000 after buying an additional 57,198 shares in the last quarter. 84.88% of the stock is currently owned by institutional investors and hedge funds.

About FreightCar America

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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