Legato Capital Management LLC Buys Shares of 59,477 Freightcar America, Inc. $RAIL

Legato Capital Management LLC bought a new stake in Freightcar America, Inc. (NASDAQ:RAIL) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 59,477 shares of the transportation company’s stock, valued at approximately $582,000. Legato Capital Management LLC owned approximately 0.31% of Freightcar America at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in RAIL. Essex Investment Management Co. LLC bought a new position in Freightcar America in the third quarter valued at approximately $2,007,000. Financial Advocates Investment Management acquired a new stake in shares of Freightcar America in the 2nd quarter valued at $280,000. Heron Bay Capital Management acquired a new stake in shares of Freightcar America in the 2nd quarter valued at $143,000. Hillsdale Investment Management Inc. bought a new position in shares of Freightcar America in the 3rd quarter valued at $352,000. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of Freightcar America during the 3rd quarter worth $501,000. Institutional investors own 31.96% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RAIL. Weiss Ratings raised Freightcar America from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, February 23rd. Wall Street Zen raised shares of Freightcar America from a “hold” rating to a “buy” rating in a report on Sunday, December 28th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $9.00.

Freightcar America Stock Performance

Freightcar America stock opened at $13.48 on Thursday. The firm has a market cap of $257.20 million, a price-to-earnings ratio of 5.11 and a beta of 1.75. Freightcar America, Inc. has a 52-week low of $4.31 and a 52-week high of $14.90. The firm has a 50 day moving average price of $12.25 and a two-hundred day moving average price of $10.10.

Freightcar America Company 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.