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

FreightCar America (NASDAQ:RAIL) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Wednesday.

FreightCar America Stock Performance

NASDAQ RAIL opened at $10.39 on Wednesday. The business’s 50 day moving average price is $11.78 and its 200-day moving average price is $6.73. FreightCar America has a fifty-two week low of $2.25 and a fifty-two week high of $16.10. The company has a market cap of $196.06 million, a P/E ratio of -2.45 and a beta of 2.00.

FreightCar America (NASDAQ:RAIL) last announced its earnings results on Monday, August 12th. The transportation company reported $0.05 earnings per share for the quarter, meeting the consensus estimate of $0.05. FreightCar America had a negative net margin of 20.66% and a negative return on equity of 41.24%. The business had revenue of $147.42 million for the quarter, compared to the consensus estimate of $127.09 million. During the same quarter in the prior year, the firm posted $0.02 earnings per share. As a group, equities analysts predict that FreightCar America will post 0.19 EPS for the current year.

Insiders Place Their Bets

In other FreightCar America news, Director Nigris Felan Jose De bought 4,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The stock was acquired at an average cost of $10.19 per share, for a total transaction of $40,760.00. Following the completion of the transaction, the director now owns 73,147 shares in the company, valued at $745,367.93. This trade represents a 5.78 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William D. Gehl sold 10,000 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $10.83, for a total transaction of $108,300.00. Following the sale, the director now directly owns 147,608 shares of the company’s stock, valued at $1,598,594.64. This represents a 6.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.00% of the stock is owned by insiders.

Hedge Funds Weigh In On FreightCar America

A number of hedge funds have recently added to or reduced their stakes in the stock. Walleye Capital LLC purchased a new stake in shares of FreightCar America in the third quarter valued at approximately $813,000. Quantbot Technologies LP purchased a new stake in shares of FreightCar America in the 3rd quarter worth $49,000. Allspring Global Investments Holdings LLC bought a new position in shares of FreightCar America during the 3rd quarter worth $1,067,000. Renaissance Technologies LLC increased its stake in shares of FreightCar America by 43.4% during the second 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 during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of FreightCar America by 24.4% in the second quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock valued at $104,000 after acquiring an additional 5,880 shares in the last quarter. 31.96% of the stock is currently owned by 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.