FreightCar America (NASDAQ:RAIL) Stock Rating Upgraded by Noble Financial

FreightCar America (NASDAQ:RAIL) was upgraded by Noble Financial to a “strong-buy” rating in a report released on Friday, Zacks.com reports.

Separately, StockNews.com assumed coverage on shares of FreightCar America in a report on Thursday, March 21st. They set a “hold” rating for the company.

FreightCar America Stock Performance

FreightCar America stock opened at $3.49 on Friday. The stock has a market cap of $65.30 million, a P/E ratio of -2.27 and a beta of 1.93. FreightCar America has a fifty-two week low of $2.25 and a fifty-two week high of $4.26. The firm’s fifty day moving average price is $3.66 and its 200-day moving average price is $3.26.

FreightCar America (NASDAQ:RAIL) last released its quarterly earnings results on Wednesday, May 8th. The transportation company reported $0.02 earnings per share for the quarter. FreightCar America had a negative return on equity of 20.71% and a negative net margin of 6.88%. The firm had revenue of $161.06 million for the quarter. Sell-side analysts predict that FreightCar America will post 0.17 earnings per share for the current year.

Institutional Trading of FreightCar America

A hedge fund recently raised its stake in FreightCar America stock. Vanguard Group Inc. lifted its holdings in shares of FreightCar America, Inc. (NASDAQ:RAIL) by 4.7% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 584,292 shares of the transportation company’s stock after purchasing an additional 26,412 shares during the period. Vanguard Group Inc. owned about 3.19% of FreightCar America worth $2,250,000 as of its most recent filing with the SEC. Institutional investors own 31.96% of the company’s stock.

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.