FreightCar America (NASDAQ:RAIL) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of FreightCar America (NASDAQ:RAIL) from a buy rating to a strong-buy rating in a research note published on Tuesday.

FreightCar America Trading Up 0.2 %

RAIL stock opened at $6.43 on Tuesday. FreightCar America has a 1 year low of $3.02 and a 1 year high of $16.10. The company has a fifty day simple moving average of $10.00 and a 200 day simple moving average of $10.46. The firm has a market cap of $122.56 million, a PE ratio of -1.52 and a beta of 2.08.

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

Hedge Funds Weigh In On FreightCar America

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quantbot Technologies LP acquired a new position in shares of FreightCar America during the third quarter worth approximately $49,000. JPMorgan Chase & Co. lifted its position in shares of FreightCar America by 98.4% during the third 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 in the last quarter. Barclays PLC acquired a new position in shares of FreightCar America during the third quarter worth approximately $73,000. Globeflex Capital L P acquired a new position in shares of FreightCar America during the fourth quarter worth approximately $69,000. Finally, Ritholtz Wealth Management acquired a new position in shares of FreightCar America during the fourth quarter worth approximately $104,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

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.