Seaport Global Securities Begins Coverage on FreightCar America (RAIL)
Seaport Global Securities started coverage on shares of FreightCar America (NASDAQ:RAIL) in a research report released on Thursday, Marketbeat.com reports. The firm issued a neutral rating on the transportation company’s stock.
Several other equities research analysts also recently weighed in on RAIL. Zacks Investment Research raised shares of FreightCar America from a sell rating to a hold rating in a research report on Wednesday, September 20th. Stifel Nicolaus reissued a hold rating and issued a $15.00 target price on shares of FreightCar America in a research report on Thursday, September 21st. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $16.25.
FreightCar America (NASDAQ:RAIL) traded up $0.06 on Thursday, hitting $16.66. 65,541 shares of the stock traded hands, compared to its average volume of 82,900. The company has a market cap of $206.39, a P/E ratio of -18.11 and a beta of 1.65. FreightCar America has a one year low of $12.07 and a one year high of $20.46.
FreightCar America (NASDAQ:RAIL) last released its earnings results 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). The company had revenue of $72.00 million during the quarter, compared to the consensus estimate of $87.20 million. FreightCar America had a negative return on equity of 2.56% and a negative net margin of 2.44%. FreightCar America’s quarterly revenue was down 36.6% on a year-over-year basis. analysts anticipate that FreightCar America will post -0.98 earnings per share for the current year.
In other FreightCar America news, insider James R. Meyer acquired 10,000 shares of the stock in a transaction that occurred on Wednesday, November 8th. The stock was acquired at an average price of $14.34 per share, with a total value of $143,400.00. Following the transaction, the insider now directly owns 2,619 shares in the company, valued at $37,556.46. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director S Carl Soderstrom, Jr. sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $15.01, for a total transaction of $30,020.00. Following the sale, the director now directly owns 18,204 shares of the company’s stock, valued at approximately $273,242.04. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 11,500 shares of company stock valued at $179,090. Insiders own 4.13% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. KBC Group NV bought a new position in FreightCar America in the 3rd quarter worth about $178,000. Alliancebernstein L.P. bought a new position in FreightCar America in the 2nd quarter worth about $212,000. Virtu KCG Holdings LLC bought a new position in FreightCar America in the 2nd quarter worth about $258,000. Rhumbline Advisers grew its position in FreightCar America by 2.5% in the 2nd quarter. Rhumbline Advisers now owns 15,664 shares of the transportation company’s stock worth $272,000 after purchasing an additional 387 shares during the last quarter. Finally, Chicago Equity Partners LLC bought a new position in FreightCar America in the 2nd quarter worth about $329,000. 84.30% of the stock is owned by institutional investors and hedge funds.
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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