FreightCar America, Inc. (RAIL) Upgraded to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of FreightCar America, Inc. (NASDAQ:RAIL) from a sell rating to a hold rating in a research note published on Wednesday 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. “
RAIL has been the topic of several other reports. Buckingham Research started coverage on FreightCar America in a report on Wednesday, June 21st. They issued a neutral rating and a $17.00 target price on the stock. Stifel Nicolaus reissued a hold rating and issued a $15.00 target price on shares of FreightCar America in a report on Thursday, September 21st. Finally, Cowen and Company reissued a hold rating and issued a $15.00 target price on shares of FreightCar America in a report on Tuesday, July 11th. Five analysts have rated the stock with a hold rating, The company has an average rating of Hold and an average target price of $16.50.
Shares of FreightCar America (RAIL) traded down 0.21% during trading on Wednesday, reaching $18.64. The company’s stock had a trading volume of 42,720 shares. FreightCar America has a one year low of $10.87 and a one year high of $20.46. The firm has a market cap of $231.66 million, a P/E ratio of 716.92 and a beta of 1.63. The stock’s 50 day moving average is $18.71 and its 200 day moving average is $16.86.
FreightCar America (NASDAQ:RAIL) last issued its quarterly earnings results on Wednesday, August 2nd. The transportation company reported ($0.04) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.04). FreightCar America had a negative return on equity of 0.70% and a negative net margin of 0.38%. The company had revenue of $118.67 million for the quarter, compared to analysts’ expectations of $108.43 million. During the same period in the prior year, the firm earned ($0.04) earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities analysts forecast that FreightCar America will post ($0.21) EPS for the current fiscal year.
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Large investors have recently made changes to their positions in the company. Uniplan Investment Counsel Inc. lifted its holdings in shares of FreightCar America by 58.2% during the second quarter. Uniplan Investment Counsel Inc. now owns 338,821 shares of the transportation company’s stock valued at $5,892,000 after purchasing an additional 124,705 shares in the last quarter. Royce & Associates LP lifted its holdings in shares of FreightCar America by 5.1% during the second quarter. Royce & Associates LP now owns 1,280,893 shares of the transportation company’s stock valued at $22,275,000 after purchasing an additional 62,587 shares in the last quarter. Ironwood Investment Management LLC lifted its holdings in shares of FreightCar America by 3.8% during the first quarter. Ironwood Investment Management LLC now owns 11,730 shares of the transportation company’s stock valued at $147,000 after purchasing an additional 433 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of FreightCar America by 1.5% during the second quarter. Russell Investments Group Ltd. now owns 323,036 shares of the transportation company’s stock valued at $5,617,000 after purchasing an additional 4,624 shares in the last quarter. Finally, Numeric Investors LLC bought a new position in shares of FreightCar America during the second quarter valued at $3,680,000. 82.74% of the stock is currently owned by hedge funds and other institutional investors.
About FreightCar America
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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