FreightCar America (NASDAQ:RAIL) Stock Passes Above 200 Day Moving Average of $3.85

FreightCar America, Inc. (NASDAQ:RAIL)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.85 and traded as high as $7.96. FreightCar America shares last traded at $7.60, with a volume of 273,016 shares changing hands.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on RAIL shares. StockNews.com began coverage on FreightCar America in a research note on Tuesday, August 27th. They issued a “hold” rating on the stock. Noble Financial raised shares of FreightCar America to a “strong-buy” rating in a research note on Friday, June 28th.

FreightCar America Stock Down 3.4 %

The stock has a market capitalization of $143.41 million, a price-to-earnings ratio of -4.94 and a beta of 1.99. The business’s 50-day moving average is $4.37 and its two-hundred day moving average is $3.85.

FreightCar America (NASDAQ:RAIL) last issued its earnings results on Monday, August 12th. The transportation company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. FreightCar America had a negative return on equity of 28.11% and a negative net margin of 0.62%. The business had revenue of $147.42 million for the quarter, compared to analysts’ expectations of $127.09 million. During the same period in the previous year, the firm posted $0.02 EPS. As a group, analysts forecast that FreightCar America, Inc. will post 0.2 EPS for the current fiscal year.

Institutional Trading of FreightCar America

Hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of FreightCar America by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock valued at $2,250,000 after buying an additional 26,412 shares during the period. Dimensional Fund Advisors LP grew its position in FreightCar America by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock worth $104,000 after acquiring an additional 5,880 shares during the period. Finally, Renaissance Technologies LLC grew its position in FreightCar America by 43.4% in the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock worth $408,000 after acquiring an additional 35,387 shares during the period. 31.96% of the stock is owned by institutional investors and hedge funds.

FreightCar America Company Profile

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.