FreightCar America (NASDAQ:RAIL) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com started coverage on shares of FreightCar America (NASDAQ:RAIL) in a report released on Tuesday. The brokerage set a “hold” rating on the transportation company’s stock.

Separately, Noble Financial upgraded FreightCar America to a “strong-buy” rating in a research note on Friday, June 28th.

FreightCar America Price Performance

Shares of FreightCar America stock opened at $6.58 on Tuesday. FreightCar America has a 1-year low of $2.25 and a 1-year high of $6.86. The stock has a market cap of $123.12 million, a P/E ratio of -4.27 and a beta of 1.97. The stock’s 50 day simple moving average is $3.76 and its 200-day simple moving average is $3.61.

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

Institutional Trading of FreightCar America

A number of large investors have recently made changes to their positions in RAIL. Dimensional Fund Advisors LP grew its stake in shares of FreightCar America by 24.4% during the second quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock worth $104,000 after purchasing an additional 5,880 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of FreightCar America by 43.4% in the 2nd quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock valued at $408,000 after buying an additional 35,387 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of FreightCar America by 4.7% during the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock worth $2,250,000 after purchasing an additional 26,412 shares during the last quarter. 31.96% of the stock is currently 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.