FreightCar America (NASDAQ:RAIL) Lowered to Buy Rating by StockNews.com

FreightCar America (NASDAQ:RAIL) was downgraded by equities researchers at StockNews.com from a “strong-buy” rating to a “buy” rating in a research report issued on Wednesday.

FreightCar America Trading Up 5.0 %

RAIL opened at $6.87 on Wednesday. FreightCar America has a 12 month low of $3.02 and a 12 month high of $16.10. The business’s 50-day moving average price is $9.78 and its 200-day moving average price is $10.47. The company has a market cap of $130.94 million, a P/E ratio of -1.62 and a beta of 2.08.

FreightCar America (NASDAQ:RAIL) last announced its quarterly earnings results on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. FreightCar America had a negative return on equity of 27.10% and a negative net margin of 20.66%. The business had revenue of $137.70 million for the quarter, compared to analysts’ expectations of $152.02 million. Equities research analysts forecast that FreightCar America will post 0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FreightCar America

Several institutional investors have recently added to or reduced their stakes in RAIL. Ancora Advisors LLC purchased a new position in shares of FreightCar America in the fourth quarter valued at about $2,711,000. Marshall Wace LLP purchased a new position in FreightCar America during the 4th quarter valued at about $2,399,000. Arrowstreet Capital Limited Partnership raised its position in FreightCar America by 125.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company’s stock valued at $3,486,000 after purchasing an additional 216,307 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in FreightCar America by 128.5% in the 4th quarter. Renaissance Technologies LLC now owns 282,200 shares of the transportation company’s stock worth $2,529,000 after buying an additional 158,700 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of FreightCar America by 90.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company’s stock worth $1,688,000 after buying an additional 89,471 shares during the last quarter. Hedge funds and other institutional investors own 31.96% of the company’s stock.

FreightCar America Company Profile

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.