FreightCar America (NASDAQ:RAIL) Upgraded to “Strong-Buy” at Noble Financial

FreightCar America (NASDAQ:RAIL) was upgraded by Noble Financial to a “strong-buy” rating in a research note issued to investors on Friday, Zacks.com reports.

Separately, StockNews.com initiated coverage on FreightCar America in a report on Thursday, March 21st. They issued a “hold” rating on the stock.

FreightCar America Price Performance

FreightCar America stock opened at $3.49 on Friday. The company has a market cap of $65.30 million, a PE ratio of -2.27 and a beta of 1.93. FreightCar America has a 12 month low of $2.25 and a 12 month high of $4.26. The company has a fifty day moving average price of $3.66 and a two-hundred day moving average price of $3.26.

FreightCar America (NASDAQ:RAIL) last announced its quarterly earnings data on Wednesday, May 8th. The transportation company reported $0.02 earnings per share for the quarter. FreightCar America had a negative net margin of 6.88% and a negative return on equity of 20.71%. The business had revenue of $161.06 million during the quarter. Equities research analysts anticipate that FreightCar America will post 0.17 earnings per share for the current year.

Institutional Trading of FreightCar America

An institutional investor recently raised its position in FreightCar America stock. Vanguard Group Inc. grew its holdings in shares of FreightCar America, Inc. (NASDAQ:RAIL) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 584,292 shares of the transportation company’s stock after buying an additional 26,412 shares during the period. Vanguard Group Inc. owned 3.19% of FreightCar America worth $2,250,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 31.96% of the company’s stock.

About FreightCar America

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.