Zacks Investment Research downgraded shares of Freightcar America, Inc. (NASDAQ:RAIL) from a hold rating to a sell rating in a research note published on Friday morning.

According to Zacks, “FreightCar America, Inc. manufactures railroad freight cars, with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds flat cars, mill gondola cars, intermodal cars, coil steel cars and motor vehicle carriers. It is headquartered in Chicago, Illinois and has manufacturing facilities in Danville, Illinois, Roanoke, Virginia and Johnstown, Pennsylvania. “

Separately, Stifel Nicolaus reaffirmed a hold rating and set a $14.00 price target (down previously from $15.00) on shares of Freightcar America in a research report on Tuesday, November 7th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has an average rating of Hold and a consensus target price of $16.25.

Freightcar America (NASDAQ:RAIL) traded up $0.18 during mid-day trading on Friday, reaching $15.61. The company’s stock had a trading volume of 92,011 shares, compared to its average volume of 135,852. Freightcar America has a twelve month low of $12.07 and a twelve month high of $20.46.

Freightcar America (NASDAQ:RAIL) last posted its quarterly earnings data on Wednesday, November 1st. The transportation company reported ($0.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.63). Freightcar America had a negative return on equity of 2.56% and a negative net margin of 2.44%. The business had revenue of $72.00 million during the quarter, compared to analysts’ expectations of $87.20 million. Freightcar America’s quarterly revenue was down 36.6% compared to the same quarter last year. equities analysts expect that Freightcar America will post -0.98 EPS for the current year.

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In other Freightcar America news, insider James R. Meyer bought 10,000 shares of the firm’s stock in a transaction on Wednesday, November 8th. The shares were acquired at an average cost of $14.34 per share, for a total transaction of $143,400.00. Following the purchase, the insider now directly owns 2,619 shares of the company’s stock, valued at $37,556.46. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director S Carl Soderstrom, Jr. sold 4,500 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $15.61, for a total value of $70,245.00. Following the completion of the transaction, the director now owns 15,704 shares in the company, valued at $245,139.44. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,000 shares of company stock worth $139,815. 4.13% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in RAIL. Ameriprise Financial Inc. purchased a new position in shares of Freightcar America in the 1st quarter worth about $155,000. KBC Group NV purchased a new position in shares of Freightcar America in the 3rd quarter worth about $178,000. Eagle Global Advisors LLC purchased a new position in shares of Freightcar America in the 2nd quarter worth about $201,000. Alliancebernstein L.P. purchased a new position in shares of Freightcar America in the 2nd quarter worth about $212,000. Finally, Virtu KCG Holdings LLC purchased a new position in shares of Freightcar America in the 2nd quarter worth about $258,000. Institutional investors and hedge funds own 85.43% of the company’s stock.

Freightcar America Company Profile

FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.

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