Freightcar America (NASDAQ:RAIL) Issues Earnings Results, Misses Estimates By $0.02 EPS

Freightcar America (NASDAQ:RAIL) posted its quarterly earnings results on Monday. The transportation company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.18 by ($0.02), FiscalAI reports. The business had revenue of $125.57 million during the quarter, compared to analysts’ expectations of $144.95 million. Freightcar America had a net margin of 17.40% and a negative return on equity of 17.35%.

Freightcar America Stock Down 0.4%

Shares of NASDAQ:RAIL traded down $0.05 during trading on Monday, reaching $12.68. 259,754 shares of the company’s stock traded hands, compared to its average volume of 142,883. Freightcar America has a fifty-two week low of $4.31 and a fifty-two week high of $14.90. The company has a 50-day simple moving average of $12.31 and a 200-day simple moving average of $10.18. The firm has a market cap of $241.93 million, a PE ratio of 4.80 and a beta of 1.75.

Hedge Funds Weigh In On Freightcar America

Hedge funds have recently bought and sold shares of the business. Marshall Wace LLP grew its holdings in Freightcar America by 92.4% in the fourth quarter. Marshall Wace LLP now owns 446,420 shares of the transportation company’s stock valued at $4,942,000 after purchasing an additional 214,397 shares during the period. Walleye Capital LLC lifted its position in shares of Freightcar America by 907.4% during the 4th quarter. Walleye Capital LLC now owns 170,830 shares of the transportation company’s stock valued at $1,891,000 after buying an additional 153,872 shares in the last quarter. Essex Investment Management Co. LLC lifted its position in shares of Freightcar America by 68.7% during the 4th quarter. Essex Investment Management Co. LLC now owns 346,144 shares of the transportation company’s stock valued at $3,832,000 after buying an additional 140,946 shares in the last quarter. Millennium Management LLC grew its stake in Freightcar America by 161.9% in the 4th quarter. Millennium Management LLC now owns 153,172 shares of the transportation company’s stock valued at $1,696,000 after acquiring an additional 94,694 shares during the period. Finally, JPMorgan Chase & Co. acquired a new stake in Freightcar America in the 2nd quarter valued at $813,000. Hedge funds and other institutional investors own 31.96% of the company’s stock.

Analysts Set New Price Targets

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

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.