FreightCar America (NASDAQ:RAIL) was upgraded by research analysts at ValuEngine from a “sell” rating to a “hold” rating in a research note issued on Thursday, ValuEngine reports.
Separately, Zacks Investment Research cut FreightCar America from a “hold” rating to a “strong sell” rating in a research report on Wednesday, July 3rd. Five equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus price target of $7.50.
Shares of RAIL traded down $0.33 during mid-day trading on Thursday, reaching $5.13. The company had a trading volume of 65,139 shares, compared to its average volume of 80,395. The company has a debt-to-equity ratio of 0.43, a current ratio of 2.01 and a quick ratio of 1.24. The stock’s 50-day moving average is $5.76. FreightCar America has a 52 week low of $5.09 and a 52 week high of $19.25. The stock has a market capitalization of $68.90 million, a P/E ratio of -2.88 and a beta of 1.43.
FreightCar America (NASDAQ:RAIL) last issued its quarterly earnings results on Wednesday, May 1st. The transportation company reported ($1.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.48) by ($0.64). FreightCar America had a negative return on equity of 14.67% and a negative net margin of 15.85%. The company had revenue of $70.71 million during the quarter, compared to the consensus estimate of $65.40 million. On average, research analysts anticipate that FreightCar America will post -2.53 earnings per share for the current year.
In related news, Director Malcolm F. Moore purchased 4,000 shares of the company’s stock in a transaction dated Thursday, May 16th. The shares were purchased at an average cost of $6.35 per share, with a total value of $25,400.00. Following the transaction, the director now directly owns 25,913 shares in the company, valued at approximately $164,547.55. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Christopher J. Eppel purchased 8,468 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average cost of $6.02 per share, for a total transaction of $50,977.36. Following the completion of the transaction, the chief financial officer now owns 50,500 shares in the company, valued at $304,010. The disclosure for this purchase can be found here. Over the last three months, insiders bought 30,468 shares of company stock worth $191,437. Insiders own 6.65% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Millennium Management LLC bought a new position in FreightCar America in the 4th quarter valued at approximately $247,000. Two Sigma Investments LP lifted its position in FreightCar America by 103.3% in the 4th quarter. Two Sigma Investments LP now owns 53,594 shares of the transportation company’s stock valued at $359,000 after acquiring an additional 27,229 shares in the last quarter. Minerva Advisors LLC bought a new position in FreightCar America in the 2nd quarter valued at approximately $427,000. Parthenon LLC bought a new position in FreightCar America in the 1st quarter valued at approximately $725,000. Finally, Geode Capital Management LLC lifted its position in FreightCar America by 5.5% in the 4th quarter. Geode Capital Management LLC now owns 123,639 shares of the transportation company’s stock valued at $827,000 after acquiring an additional 6,404 shares in the last quarter. 83.49% of the stock is currently owned by institutional investors and hedge funds.
FreightCar America Company Profile
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. It operates through two segments, Manufacturing and Parts. 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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