Wells Fargo & Company MN Sells 185,417 Shares of Freightcar America, Inc. (RAIL)
Wells Fargo & Company MN lowered its stake in Freightcar America, Inc. (NASDAQ:RAIL) by 29.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 433,769 shares of the transportation company’s stock after selling 185,417 shares during the period. Wells Fargo & Company MN owned approximately 3.53% of Freightcar America worth $7,543,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Chicago Equity Partners LLC purchased a new position in Freightcar America in the second quarter worth about $329,000. Royce & Associates LP grew its position in Freightcar America by 5.1% in the second quarter. Royce & Associates LP now owns 1,280,893 shares of the transportation company’s stock worth $22,275,000 after acquiring an additional 62,587 shares in the last quarter. Bank of New York Mellon Corp grew its position in Freightcar America by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 219,916 shares of the transportation company’s stock worth $3,825,000 after acquiring an additional 3,831 shares in the last quarter. Rhumbline Advisers grew its position in Freightcar America by 2.5% in the second quarter. Rhumbline Advisers now owns 15,664 shares of the transportation company’s stock worth $272,000 after acquiring an additional 387 shares in the last quarter. Finally, Spark Investment Management LLC purchased a new position in Freightcar America in the second quarter worth about $293,000. Institutional investors own 82.74% of the company’s stock.
Freightcar America, Inc. (NASDAQ RAIL) opened at 19.53 on Friday. The stock has a market cap of $242.72 million, a price-to-earnings ratio of 751.15 and a beta of 1.63. The firm’s 50 day moving average price is $18.23 and its 200 day moving average price is $16.45. Freightcar America, Inc. has a 12 month low of $10.87 and a 12 month high of $20.46.
Freightcar America (NASDAQ:RAIL) last posted its quarterly earnings results on Wednesday, August 2nd. The transportation company reported ($0.04) earnings per share for the quarter, meeting the consensus estimate of ($0.04). Freightcar America had a net margin of 0.06% and a return on equity of 1.61%. The business had revenue of $118.67 million during the quarter, compared to analysts’ expectations of $108.43 million. During the same quarter in the prior year, the company posted ($0.04) EPS. The business’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities research analysts predict that Freightcar America, Inc. will post ($0.21) EPS for the current fiscal year.
Several research analysts recently commented on the company. Cowen and Company reiterated a “hold” rating and issued a $15.00 price target on shares of Freightcar America in a research report on Tuesday, July 11th. Zacks Investment Research lowered Freightcar America from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 5th. Stifel Nicolaus restated a “hold” rating and set a $15.00 target price on shares of Freightcar America in a research report on Thursday, September 21st. Finally, Buckingham Research started coverage on Freightcar America in a research report on Wednesday, June 21st. They set a “neutral” rating and a $17.00 target price for the company. Five research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and a consensus price target of $16.50.
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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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