Heron Bay Capital Management Acquires New Position in Freightcar America, Inc. $RAIL

Heron Bay Capital Management acquired a new stake in Freightcar America, Inc. (NASDAQ:RAIL) during the 2nd quarter, HoldingsChannel reports. The firm acquired 16,561 shares of the transportation company’s stock, valued at approximately $143,000.

Other institutional investors also recently modified their holdings of the company. North Star Investment Management Corp. purchased a new position in shares of Freightcar America during the 2nd quarter valued at $1,498,000. Russell Investments Group Ltd. grew its stake in Freightcar America by 435.5% in the first quarter. Russell Investments Group Ltd. now owns 141,337 shares of the transportation company’s stock valued at $782,000 after purchasing an additional 114,945 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Freightcar America in the 2nd quarter worth about $813,000. OMERS ADMINISTRATION Corp raised its stake in shares of Freightcar America by 204.2% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 72,100 shares of the transportation company’s stock worth $399,000 after purchasing an additional 48,400 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Freightcar America by 58.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 106,656 shares of the transportation company’s stock valued at $590,000 after buying an additional 39,506 shares during the last quarter. Institutional investors and hedge funds own 31.96% of the company’s stock.

Freightcar America Stock Up 3.2%

Shares of Freightcar America stock opened at $7.75 on Friday. Freightcar America, Inc. has a 12-month low of $4.31 and a 12-month high of $13.64. The stock has a 50 day moving average price of $9.09 and a two-hundred day moving average price of $8.93. The stock has a market capitalization of $147.86 million, a P/E ratio of -11.07 and a beta of 2.08.

Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings data on Monday, November 10th. The transportation company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.08. The business had revenue of $160.51 million during the quarter, compared to analysts’ expectations of $157.25 million. Freightcar America had a negative net margin of 2.21% and a negative return on equity of 14.89%. Freightcar America has set its FY 2025 guidance at EPS. Sell-side analysts anticipate that Freightcar America, Inc. will post 0.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RAIL. Wall Street Zen downgraded Freightcar America from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings lowered shares of Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Finally, Zacks Research raised shares of Freightcar America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $9.00.

About Freightcar America

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.