FreightCar America (NASDAQ:RAIL) Cut to “Buy” at StockNews.com

FreightCar America (NASDAQ:RAIL) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report issued on Wednesday.

FreightCar America Stock Up 5.0 %

Shares of NASDAQ RAIL opened at $6.87 on Wednesday. The stock’s 50-day simple moving average is $9.78 and its two-hundred day simple moving average is $10.47. FreightCar America has a twelve month low of $3.02 and a twelve month high of $16.10. The firm has a market capitalization of $130.94 million, a P/E ratio of -1.62 and a beta of 2.08.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RAIL. Quantbot Technologies LP bought a new stake in FreightCar America during the third quarter worth about $49,000. JPMorgan Chase & Co. raised its holdings in shares of FreightCar America by 98.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock valued at $50,000 after buying an additional 2,281 shares in the last quarter. Globeflex Capital L P bought a new stake in FreightCar America in the 4th quarter worth approximately $69,000. Barclays PLC purchased a new stake in FreightCar America in the third quarter worth approximately $73,000. Finally, Ritholtz Wealth Management bought a new position in FreightCar America during the fourth quarter valued at approximately $104,000. 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.