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

StockNews.com lowered shares of FreightCar America (NASDAQ:RAIL) from a strong-buy rating to a buy rating in a report published on Wednesday.

FreightCar America Stock Performance

NASDAQ:RAIL opened at $5.64 on Wednesday. FreightCar America has a 52 week low of $3.02 and a 52 week high of $16.10. The firm has a 50-day moving average price of $9.42 and a two-hundred day moving average price of $10.39. The firm has a market cap of $107.50 million, a price-to-earnings ratio of -1.33 and a beta of 2.08.

FreightCar America (NASDAQ:RAIL) last issued its quarterly earnings results on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.16. FreightCar America had a negative return on equity of 27.10% and a negative net margin of 20.66%. The business had revenue of $137.70 million for the quarter, compared to analyst estimates of $152.02 million. As a group, sell-side analysts forecast that FreightCar America will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On FreightCar America

Several institutional investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP bought a new stake in FreightCar America in the third quarter worth about $49,000. JPMorgan Chase & Co. raised its holdings in shares of FreightCar America by 98.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock worth $50,000 after purchasing an additional 2,281 shares during the period. Globeflex Capital L P bought a new stake in shares of FreightCar America in the 4th quarter worth approximately $69,000. Barclays PLC purchased a new position in FreightCar America in the third quarter valued at approximately $73,000. Finally, Ritholtz Wealth Management bought a new position in FreightCar America during the fourth quarter valued at $104,000. Institutional investors own 31.96% of the company’s stock.

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.