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

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

FreightCar America Trading Up 3.3 %

Shares of RAIL stock traded up $0.39 during trading hours on Tuesday, reaching $12.21. The stock had a trading volume of 97,942 shares, compared to its average volume of 183,956. The stock’s fifty day simple moving average is $10.45 and its 200 day simple moving average is $9.56. The firm has a market capitalization of $230.65 million, a PE ratio of -2.88 and a beta of 1.96. FreightCar America has a 12 month low of $2.70 and a 12 month high of $16.10.

Insider Activity

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

Institutional Investors Weigh In On FreightCar America

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew 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 purchasing an additional 2,281 shares during the last quarter. Quantbot Technologies LP purchased a new stake in FreightCar America during the 3rd quarter valued at $49,000. Dimensional Fund Advisors LP grew its holdings in 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 acquiring an additional 5,880 shares during the last quarter. Barclays PLC purchased a new position in shares of FreightCar America in the third quarter valued at about $73,000. Finally, State Street Corp raised its stake in shares of FreightCar America by 21.6% during the third quarter. State Street Corp now owns 53,958 shares of the transportation company’s stock valued at $582,000 after acquiring an additional 9,600 shares during the last quarter. 31.96% of the stock is currently owned by 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.