Freightcar America (NASDAQ:RAIL) Raised to “Buy” at Wall Street Zen

Freightcar America (NASDAQ:RAIL) was upgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued on Sunday.

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

Freightcar America Stock Down 0.2%

Shares of NASDAQ RAIL opened at $11.50 on Friday. The company has a market capitalization of $219.42 million, a PE ratio of 4.36 and a beta of 1.66. Freightcar America has a twelve month low of $4.31 and a twelve month high of $13.64. The firm has a fifty day simple moving average of $8.96 and a 200 day simple moving average of $9.25.

Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings results on Monday, November 10th. The transportation company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.08. Freightcar America had a net margin of 17.40% and a negative return on equity of 17.35%. The business had revenue of $160.51 million for the quarter, compared to analysts’ expectations of $157.25 million. As a group, equities analysts expect that Freightcar America will post 0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Freightcar America

Institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its holdings in shares of Freightcar America by 208.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock worth $29,000 after purchasing an additional 1,984 shares in the last quarter. Quarry LP acquired a new position in Freightcar America during the third quarter worth $53,000. Dynamic Technology Lab Private Ltd acquired a new position in Freightcar America during the first quarter worth $61,000. State of Wyoming bought a new position in shares of Freightcar America in the second quarter valued at $63,000. Finally, Walleye Capital LLC acquired a new position in shares of Freightcar America during the first quarter valued at about $74,000. 31.96% of the stock is owned by institutional investors and hedge funds.

About Freightcar America

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.