Zacks: Brokerages Anticipate FreightCar America, Inc. (RAIL) Will Post Quarterly Sales of $105.65 Million

Equities analysts expect that FreightCar America, Inc. (NASDAQ:RAIL) will report $105.65 million in sales for the current quarter, Zacks reports. Two analysts have provided estimates for FreightCar America’s earnings, with estimates ranging from $98.70 million to $112.60 million. FreightCar America reported sales of $135.52 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 22%. The firm is expected to report its next quarterly earnings results after the market closes on Monday, February 26th.

On average, analysts expect that FreightCar America will report full year sales of $105.65 million for the current year, with estimates ranging from $428.90 million to $442.80 million. For the next fiscal year, analysts expect that the company will post sales of $333.40 million per share, with estimates ranging from $322.90 million to $343.90 million. Zacks’ sales averages are a mean average based on a survey of research firms that cover FreightCar America.

Several equities analysts have weighed in on RAIL shares. Zacks Investment Research raised FreightCar America from a “sell” rating to a “hold” rating in a research report on Wednesday, January 31st. Stifel Nicolaus reissued a “hold” rating and set a $14.00 price target (down previously from $15.00) on shares of FreightCar America in a research report on Tuesday, November 7th. Seaport Global Securities started coverage on FreightCar America in a research report on Thursday, January 4th. They set a “neutral” rating for the company. Finally, ValuEngine downgraded FreightCar America from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $16.25.

In other news, Director S Carl Soderstrom, Jr. sold 2,500 shares of FreightCar America stock in a transaction on Friday, November 17th. The stock was sold at an average price of $15.71, for a total value of $39,275.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.13% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of RAIL. Alliancebernstein L.P. acquired a new position in FreightCar America in the second quarter valued at $212,000. Ameriprise Financial Inc. boosted its holdings in FreightCar America by 109.2% in the second quarter. Ameriprise Financial Inc. now owns 25,917 shares of the transportation company’s stock valued at $456,000 after acquiring an additional 13,527 shares during the last quarter. Nationwide Fund Advisors boosted its holdings in FreightCar America by 80.7% in the second quarter. Nationwide Fund Advisors now owns 34,265 shares of the transportation company’s stock valued at $596,000 after acquiring an additional 15,300 shares during the last quarter. Northern Trust Corp boosted its holdings in FreightCar America by 5.3% in the second quarter. Northern Trust Corp now owns 142,774 shares of the transportation company’s stock valued at $2,483,000 after acquiring an additional 7,183 shares during the last quarter. Finally, Virtu KCG Holdings LLC acquired a new position in FreightCar America in the second quarter valued at $258,000. Hedge funds and other institutional investors own 87.39% of the company’s stock.

FreightCar America (RAIL) opened at $15.09 on Thursday. FreightCar America has a 1 year low of $12.07 and a 1 year high of $20.46.

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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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Earnings History and Estimates for FreightCar America (NASDAQ:RAIL)

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