205,198 Shares in Freightcar America, Inc. $RAIL Acquired by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC acquired a new stake in Freightcar America, Inc. (NASDAQ:RAIL) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 205,198 shares of the transportation company’s stock, valued at approximately $2,007,000. Essex Investment Management Co. LLC owned approximately 1.07% of Freightcar America at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marshall Wace LLP grew its holdings in Freightcar America by 12.2% in the second quarter. Marshall Wace LLP now owns 238,331 shares of the transportation company’s stock valued at $2,054,000 after purchasing an additional 25,895 shares during the last quarter. Jane Street Group LLC boosted its position in shares of Freightcar America by 13.1% in the 1st quarter. Jane Street Group LLC now owns 108,724 shares of the transportation company’s stock worth $601,000 after buying an additional 12,610 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Freightcar America by 58.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 106,656 shares of the transportation company’s stock valued at $590,000 after acquiring an additional 39,506 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Freightcar America during the 2nd quarter valued at about $813,000. Finally, Man Group plc increased its holdings in Freightcar America by 38.5% during the 2nd quarter. Man Group plc now owns 88,158 shares of the transportation company’s stock valued at $760,000 after acquiring an additional 24,515 shares in the last quarter. 31.96% of the stock is owned by institutional investors and hedge funds.

Freightcar America Stock Performance

RAIL stock opened at $13.47 on Wednesday. The company has a 50 day moving average price of $10.88 and a two-hundred day moving average price of $9.64. The stock has a market capitalization of $257.01 million, a P/E ratio of 5.10 and a beta of 1.77. Freightcar America, Inc. has a one year low of $4.31 and a one year high of $13.74.

Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings results on Monday, November 10th. The transportation company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. The company had revenue of $160.51 million for the quarter, compared to analyst estimates of $157.25 million. Freightcar America had a negative return on equity of 17.35% and a net margin of 17.40%. Research analysts forecast that Freightcar America, Inc. will post 0.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on RAIL shares. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Freightcar America in a report on Thursday, January 22nd. Wall Street Zen raised Freightcar America from a “hold” rating to a “buy” rating in a research note on Sunday, December 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Freightcar America Profile

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.