FreightCar America (NASDAQ:RAIL) Rating Increased to Buy at StockNews.com

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

FreightCar America Price Performance

FreightCar America stock opened at $12.70 on Wednesday. The business has a 50 day moving average of $10.74 and a 200-day moving average of $9.90. FreightCar America has a 1 year low of $2.86 and a 1 year high of $16.10. The company has a market capitalization of $239.90 million, a P/E ratio of -3.00 and a beta of 1.96.

Insider Buying and Selling at FreightCar America

In other news, Director James R. Meyer bought 23,400 shares of the firm’s stock in a transaction on Thursday, November 14th. The stock was acquired at an average price of $10.74 per share, with a total value of $251,316.00. Following the transaction, the director now owns 838,278 shares of the company’s stock, valued at $9,003,105.72. This trade represents a 2.87 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 28.00% of the company’s stock.

Institutional Trading of FreightCar America

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in FreightCar America by 90.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company’s stock valued at $1,688,000 after purchasing an additional 89,471 shares during the period. Geode Capital Management LLC grew its position in shares of FreightCar America by 12.4% during the 3rd quarter. Geode Capital Management LLC now owns 180,618 shares of the transportation company’s stock worth $1,950,000 after buying an additional 19,890 shares during the period. Consolidated Portfolio Review Corp acquired a new stake in shares of FreightCar America during the 4th quarter worth approximately $743,000. Walleye Capital LLC acquired a new stake in shares of FreightCar America during the 3rd quarter worth approximately $813,000. Finally, State Street Corp grew its position in shares of FreightCar America by 21.6% during the 3rd quarter. State Street Corp now owns 53,958 shares of the transportation company’s stock worth $582,000 after buying an additional 9,600 shares during the period. Institutional investors and hedge funds 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.