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

StockNews.com upgraded shares of FreightCar America (NASDAQ:RAIL) from a hold rating to a buy rating in a research report report published on Wednesday morning.

FreightCar America Stock Down 3.0 %

FreightCar America stock opened at $9.86 on Wednesday. The company has a market capitalization of $186.06 million, a P/E ratio of -2.33 and a beta of 2.00. The stock’s 50 day moving average is $11.72 and its 200 day moving average is $6.71. FreightCar America has a twelve month low of $2.25 and a twelve month high of $16.10.

FreightCar America (NASDAQ:RAIL) last posted its quarterly earnings results on Monday, August 12th. The transportation company reported $0.05 earnings per share for the quarter, hitting the consensus estimate of $0.05. The company had revenue of $147.42 million for the quarter, compared to the consensus estimate of $127.09 million. FreightCar America had a negative return on equity of 41.24% and a negative net margin of 20.66%. During the same quarter in the prior year, the business posted $0.02 EPS. As a group, equities analysts expect that FreightCar America will post 0.19 EPS for the current year.

Insider Buying and Selling

In related news, Director William D. Gehl sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $10.83, for a total value of $108,300.00. Following the sale, the director now owns 147,608 shares in the company, valued at $1,598,594.64. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other FreightCar America news, Director William D. Gehl sold 10,000 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $10.83, for a total transaction of $108,300.00. Following the sale, the director now directly owns 147,608 shares in the company, valued at approximately $1,598,594.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nigris Felan Jose De bought 4,000 shares of the business’s stock in a transaction on Friday, September 27th. The shares were acquired at an average price of $10.19 per share, for a total transaction of $40,760.00. Following the completion of the purchase, the director now owns 73,147 shares in the company, valued at approximately $745,367.93. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 28.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On FreightCar America

Hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in FreightCar America in the 3rd quarter worth $49,000. Allspring Global Investments Holdings LLC bought a new stake in FreightCar America during the third quarter worth approximately $1,067,000. Renaissance Technologies LLC increased its stake 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 last quarter. Dimensional Fund Advisors LP increased its stake in FreightCar America by 24.4% during the second 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. Finally, Vanguard Group Inc. increased its stake in FreightCar America by 4.7% during the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock worth $2,250,000 after acquiring an additional 26,412 shares during the last quarter. 31.96% of the stock is 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.