FreightCar America (NASDAQ:RAIL) Lowered to “Buy” Rating by StockNews.com

StockNews.com lowered shares of FreightCar America (NASDAQ:RAIL) from a strong-buy rating to a buy rating in a report published on Wednesday morning.

FreightCar America Stock Down 10.3 %

RAIL opened at $6.16 on Wednesday. The firm has a market cap of $117.41 million, a P/E ratio of -1.45 and a beta of 2.08. The business’s fifty day simple moving average is $9.68 and its 200 day simple moving average is $10.44. FreightCar America has a 52 week low of $3.02 and a 52 week high of $16.10.

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

Institutional Trading of FreightCar America

Hedge funds and other institutional investors have recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in shares of FreightCar America during the 3rd quarter worth $49,000. JPMorgan Chase & Co. increased its stake in 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 last quarter. Globeflex Capital L P purchased a new position in FreightCar America during the fourth quarter worth about $69,000. Barclays PLC acquired a new stake in FreightCar America in the 3rd quarter worth about $73,000. Finally, Ritholtz Wealth Management purchased a new stake in FreightCar America in the 4th quarter valued at about $104,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

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.