FreightCar America (NASDAQ:RAIL) Stock Rating Upgraded by StockNews.com

FreightCar America (NASDAQ:RAIL) was upgraded by stock analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a report issued on Tuesday.

FreightCar America Stock Performance

Shares of RAIL stock opened at $6.42 on Tuesday. FreightCar America has a one year low of $3.02 and a one year high of $16.10. The company’s 50-day simple moving average is $10.07 and its 200-day simple moving average is $10.49. The stock has a market capitalization of $122.37 million, a price-to-earnings ratio of -1.51 and a beta of 2.08.

FreightCar America (NASDAQ:RAIL) last issued its earnings results on Wednesday, March 12th. The transportation company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. FreightCar America had a negative net margin of 20.66% and a negative return on equity of 27.10%. The firm had revenue of $137.70 million for the quarter, compared to analysts’ expectations of $152.02 million. As a group, research analysts forecast that FreightCar America will post 0.09 EPS for the current year.

Hedge Funds Weigh In On FreightCar America

A number of large investors have recently bought and sold shares of the business. Quantbot Technologies LP acquired a new stake in shares of FreightCar America in the third quarter valued at approximately $49,000. JPMorgan Chase & Co. increased its stake in shares of FreightCar America by 98.4% in the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock valued at $50,000 after purchasing an additional 2,281 shares during the period. Globeflex Capital L P acquired a new stake in shares of FreightCar America in the fourth quarter valued at approximately $69,000. Barclays PLC acquired a new stake in shares of FreightCar America in the third quarter valued at approximately $73,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of FreightCar America in the fourth quarter valued at approximately $104,000. 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.