Wall Street Zen Upgrades Freightcar America (NASDAQ:RAIL) to “Buy”

Freightcar America (NASDAQ:RAIL) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Sunday.

Freightcar America Price Performance

RAIL stock opened at $9.54 on Friday. The firm’s fifty day simple moving average is $9.22 and its 200-day simple moving average is $8.04. Freightcar America has a 12 month low of $4.31 and a 12 month high of $16.10. The company has a market capitalization of $182.50 million, a P/E ratio of -13.63 and a beta of 1.95.

Institutional Trading of Freightcar America

A number of large investors have recently bought and sold shares of the business. Squarepoint Ops LLC grew its stake in Freightcar America by 24.6% in the 2nd quarter. Squarepoint Ops LLC now owns 70,033 shares of the transportation company’s stock valued at $604,000 after acquiring an additional 13,825 shares during the last quarter. Marex Group plc acquired a new stake in Freightcar America during the 2nd quarter worth about $172,000. State of Wyoming acquired a new position in Freightcar America in the second quarter worth approximately $63,000. Man Group plc boosted its position in shares of Freightcar America by 38.5% in the second quarter. Man Group plc now owns 88,158 shares of the transportation company’s stock valued at $760,000 after acquiring an additional 24,515 shares during the period. Finally, Raymond James Financial Inc. raised its stake in Freightcar America by 24.7% during the second quarter. Raymond James Financial Inc. now owns 20,545 shares of the transportation company’s stock worth $177,000 after acquiring an additional 4,067 shares in the last quarter. 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.