Freightcar America (NASDAQ:RAIL) Stock Moved Down to “Strong Sell” by Zacks Research

Zacks Research cut shares of Freightcar America (NASDAQ:RAIL) from a hold rating to a strong sell rating in a research note published on Wednesday,Zacks reports.

Separately, Weiss Ratings downgraded shares of Freightcar America from a “hold (c)” rating to a “sell (d)” rating in a report on Tuesday, August 4th. Two analysts have rated the stock with a Sell rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Freightcar America Stock Up 4.4%

NASDAQ:RAIL opened at $4.30 on Wednesday. The company has a debt-to-equity ratio of 2.70, a current ratio of 1.81 and a quick ratio of 1.12. Freightcar America has a 1-year low of $3.85 and a 1-year high of $14.90. The company has a 50-day moving average of $6.73 and a 200 day moving average of $7.77. The firm has a market cap of $141.00 million, a PE ratio of -7.96 and a beta of 1.42.

Freightcar America (NASDAQ:RAIL) last announced its earnings results on Monday, August 3rd. The transportation company reported ($0.02) earnings per share (EPS) for the quarter. Freightcar America had a negative net margin of 2.69% and a negative return on equity of 15.23%. The company had revenue of $113.14 million for the quarter, compared to the consensus estimate of $110.41 million. As a group, research analysts anticipate that Freightcar America will post 0.21 EPS for the current fiscal year.

Institutional Investors Weigh In On Freightcar America

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Ancora Advisors LLC purchased a new position in Freightcar America during the second quarter worth about $62,000. Sigma Planning Corp purchased a new stake in shares of Freightcar America in the 2nd quarter valued at approximately $111,000. Deutsche Bank AG purchased a new stake in shares of Freightcar America in the 2nd quarter valued at approximately $144,000. Bank of America Corp DE acquired a new stake in shares of Freightcar America during the 2nd quarter worth approximately $177,000. Finally, Canada Pension Plan Investment Board acquired a new stake in shares of Freightcar America during the 2nd quarter worth approximately $249,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

Freightcar America Company Profile

FreightCar America, Inc is a railcar manufacturer that has historically designed and produced freight transportation equipment for the North American rail industry. Its customers have included railroads, railcar leasing companies and industrial shippers that use specialized railcars to move bulk commodities, manufactured goods and other freight.

The company’s product portfolio has included aluminum-bodied open-top hopper cars, gondolas, covered hopper cars, boxcars, coil cars, flatcars and intermodal railcars.