Penn Capital Management Company LLC Buys 194,684 Shares of Freightcar America, Inc. $RAIL

Penn Capital Management Company LLC raised its stake in shares of Freightcar America, Inc. (NASDAQ:RAIL) by 134.7% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 339,200 shares of the transportation company’s stock after buying an additional 194,684 shares during the period. Penn Capital Management Company LLC owned about 1.03% of Freightcar America worth $3,304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets boosted its stake in shares of Freightcar America by 208.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock worth $29,000 after buying an additional 1,984 shares during the last quarter. Royal Bank of Canada increased its position in Freightcar America by 2,843.5% during the fourth quarter. Royal Bank of Canada now owns 4,062 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 3,924 shares during the last quarter. Raymond James Financial Inc. lifted its holdings in Freightcar America by 24.7% in the second quarter. Raymond James Financial Inc. now owns 20,545 shares of the transportation company’s stock valued at $177,000 after acquiring an additional 4,067 shares during the period. Man Group plc lifted its holdings in Freightcar America by 15.8% in the fourth quarter. Man Group plc now owns 30,743 shares of the transportation company’s stock valued at $340,000 after acquiring an additional 4,191 shares during the period. Finally, Quarry LP purchased a new position in Freightcar America in the third quarter worth about $53,000. 31.96% of the stock is owned by institutional investors.

Freightcar America Trading Down 1.0%

NASDAQ:RAIL opened at $7.17 on Friday. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.81 and a quick ratio of 1.12. The firm has a market capitalization of $235.10 million, a price-to-earnings ratio of -13.28 and a beta of 1.48. Freightcar America, Inc. has a one year low of $7.09 and a one year high of $14.90. The business has a fifty day moving average price of $8.12 and a 200-day moving average price of $9.01.

Freightcar America (NASDAQ:RAIL) last released its earnings results on Monday, August 3rd. The transportation company reported ($0.02) earnings per share for the quarter. Freightcar America had a negative net margin of 2.69% and a negative return on equity of 15.23%. The company had revenue of $113.14 million for the quarter, compared to analysts’ expectations of $110.41 million. Sell-side analysts forecast that Freightcar America, Inc. will post 0.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Weiss Ratings downgraded Freightcar America from a “hold (c)” rating to a “sell (d)” rating in a research note on Tuesday, August 4th. Zacks Research upgraded shares of Freightcar America from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

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.