Freightcar America (NASDAQ:RAIL) Rating Lowered to Hold at Wall Street Zen

Freightcar America (NASDAQ:RAIL) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Saturday.

Several other equities research analysts have also issued reports on the stock. Zacks Research raised shares of Freightcar America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Weiss Ratings lowered Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a report on Saturday, October 25th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Freightcar America Stock Performance

Shares of NASDAQ RAIL opened at $9.06 on Friday. The business has a 50 day simple moving average of $8.84 and a 200 day simple moving average of $9.15. Freightcar America has a 52 week low of $4.31 and a 52 week high of $13.64. The stock has a market cap of $172.86 million, a price-to-earnings ratio of 3.43 and a beta of 1.66.

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, beating the consensus estimate of $0.16 by $0.08. The firm had revenue of $160.51 million for the quarter, compared to analyst estimates of $157.25 million. Freightcar America had a net margin of 17.40% and a negative return on equity of 17.35%. On average, analysts predict that Freightcar America will post 0.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RAIL. Vanguard Group Inc. raised its holdings in Freightcar America by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 631,029 shares of the transportation company’s stock worth $6,171,000 after acquiring an additional 13,301 shares during the period. Ancora Advisors LLC increased its stake in shares of Freightcar America by 12.9% in the third quarter. Ancora Advisors LLC now owns 328,921 shares of the transportation company’s stock worth $3,217,000 after purchasing an additional 37,530 shares during the period. Minerva Advisors LLC increased its stake in shares of Freightcar America by 18.1% in the third quarter. Minerva Advisors LLC now owns 258,546 shares of the transportation company’s stock worth $2,529,000 after purchasing an additional 39,541 shares during the period. Marshall Wace LLP lifted its position in shares of Freightcar America by 12.2% during the 2nd quarter. Marshall Wace LLP now owns 238,331 shares of the transportation company’s stock worth $2,054,000 after purchasing an additional 25,895 shares during the last quarter. Finally, Essex Investment Management Co. LLC bought a new stake in Freightcar America during the 3rd quarter valued at approximately $2,007,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

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.