FreightCar America (NASDAQ:RAIL) Rating Lowered to Hold at StockNews.com

FreightCar America (NASDAQ:RAIL) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

FreightCar America Stock Up 4.6 %

Shares of RAIL stock opened at $12.77 on Tuesday. FreightCar America has a 12-month low of $2.70 and a 12-month high of $16.10. The firm has a fifty day moving average of $10.51 and a 200-day moving average of $9.59. The firm has a market capitalization of $241.23 million, a price-to-earnings ratio of -3.01 and a beta of 1.96.

Insiders Place Their Bets

In related news, Director James R. Meyer purchased 23,400 shares of FreightCar America stock in a transaction dated Thursday, November 14th. The stock was bought at an average price of $10.74 per share, for a total transaction of $251,316.00. Following the completion of the acquisition, the director now directly owns 838,278 shares of the company’s stock, valued at $9,003,105.72. This represents a 2.87 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 28.00% of the company’s stock.

Institutional Investors Weigh In On FreightCar America

A number of hedge funds and other institutional investors have recently made changes to their positions in RAIL. Allspring Global Investments Holdings LLC raised its position in FreightCar America by 90.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company’s stock valued at $1,688,000 after buying an additional 89,471 shares during the last quarter. Consolidated Portfolio Review Corp acquired a new stake in shares of FreightCar America in the fourth quarter valued at approximately $743,000. Janney Montgomery Scott LLC bought a new stake in shares of FreightCar America in the fourth quarter worth $180,000. Ritholtz Wealth Management acquired a new position in FreightCar America during the fourth quarter worth $104,000. Finally, JPMorgan Chase & Co. boosted its holdings in FreightCar America by 98.4% during the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock worth $50,000 after purchasing an additional 2,281 shares during the last quarter. 31.96% of the stock is currently owned by institutional investors and hedge funds.

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.