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

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

FreightCar America Trading Up 4.6 %

Shares of RAIL stock opened at $12.77 on Tuesday. FreightCar America has a 1 year low of $2.70 and a 1 year high of $16.10. The firm’s 50 day moving average is $10.51 and its 200-day moving average is $9.59. The firm has a market capitalization of $241.23 million, a price-to-earnings ratio of -3.01 and a beta of 1.96.

Insider Buying and Selling at FreightCar America

In other FreightCar America news, Director James R. Meyer bought 23,400 shares of FreightCar America stock in a transaction dated Thursday, November 14th. The shares were bought at an average price of $10.74 per share, with a total value of $251,316.00. Following the purchase, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 28.00% of the company’s stock.

Institutional Investors Weigh In On FreightCar America

A number of institutional investors and hedge funds have recently modified their holdings of RAIL. JPMorgan Chase & Co. boosted its stake in FreightCar America by 98.4% in the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 2,281 shares during the last quarter. Quantbot Technologies LP acquired a new position in shares of FreightCar America in the 3rd quarter valued at $49,000. Dimensional Fund Advisors LP boosted its position in shares of FreightCar America by 24.4% in the 2nd 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 during the last quarter. Barclays PLC acquired a new stake in shares of FreightCar America during the third quarter worth $73,000. Finally, State Street Corp increased its holdings in FreightCar America by 21.6% in the third quarter. State Street Corp now owns 53,958 shares of the transportation company’s stock valued at $582,000 after purchasing an additional 9,600 shares during the last quarter. 31.96% of the stock is owned by institutional investors.

About FreightCar America

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.