FreightCar America (NASDAQ:RAIL) Cut to Buy at StockNews.com

FreightCar America (NASDAQ:RAIL) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Wednesday.

FreightCar America Stock Down 3.2 %

Shares of FreightCar America stock opened at $5.96 on Wednesday. FreightCar America has a 12-month low of $3.02 and a 12-month high of $16.10. The firm has a market cap of $113.60 million, a PE ratio of -1.41 and a beta of 2.08. The company’s fifty day simple moving average is $9.55 and its two-hundred day simple moving average is $10.41.

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

Institutional Trading of FreightCar America

Institutional investors and hedge funds have recently bought and sold shares of the company. Ancora Advisors LLC bought a new position in shares of FreightCar America in the fourth quarter worth approximately $2,711,000. Marshall Wace LLP purchased a new position in FreightCar America in the 4th quarter worth approximately $2,399,000. Arrowstreet Capital Limited Partnership lifted its position in FreightCar America by 125.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company’s stock valued at $3,486,000 after acquiring an additional 216,307 shares in the last quarter. Renaissance Technologies LLC boosted its stake in FreightCar America by 128.5% during the 4th quarter. Renaissance Technologies LLC now owns 282,200 shares of the transportation company’s stock valued at $2,529,000 after purchasing an additional 158,700 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of FreightCar America by 90.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company’s stock worth $1,688,000 after purchasing an additional 89,471 shares in the last quarter. 31.96% of the stock is currently owned by institutional investors.

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.