FreightCar America (NASDAQ:RAIL) Stock Price Passes Above Two Hundred Day Moving Average of $3.85

FreightCar America, Inc. (NASDAQ:RAIL)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.85 and traded as high as $7.96. FreightCar America shares last traded at $7.60, with a volume of 273,016 shares traded.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on RAIL shares. StockNews.com started coverage on FreightCar America in a research note on Tuesday, August 27th. They set a “hold” rating for the company. Noble Financial upgraded shares of FreightCar America to a “strong-buy” rating in a report on Friday, June 28th.

FreightCar America Trading Up 8.4 %

The stock has a market cap of $155.49 million, a price-to-earnings ratio of -5.35 and a beta of 1.99. The stock’s 50-day moving average is $4.47 and its 200-day moving average is $3.88.

FreightCar America (NASDAQ:RAIL) last issued its quarterly earnings results on Monday, August 12th. The transportation company reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. The company had revenue of $147.42 million for the quarter, compared to analyst estimates of $127.09 million. FreightCar America had a negative return on equity of 28.11% and a negative net margin of 0.62%. During the same period last year, the company earned $0.02 earnings per share. On average, equities analysts predict that FreightCar America, Inc. will post 0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Renaissance Technologies LLC grew its holdings in FreightCar America by 43.4% during the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock worth $408,000 after acquiring an additional 35,387 shares during the period. Vanguard Group Inc. increased its stake in FreightCar America by 4.7% in the 1st quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock worth $2,250,000 after purchasing an additional 26,412 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 5,880 shares in the last quarter. 31.96% of the stock is 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.