FreightCar America, Inc. (NASDAQ:RAIL) was the target of a large decline in short interest in July. As of July 31st, there was short interest totalling 470,300 shares, a decline of 12.9% from the June 30th total of 539,700 shares. Currently, 4.0% of the company’s stock are short sold. Based on an average daily volume of 127,700 shares, the short-interest ratio is currently 3.7 days.
RAIL has been the subject of a number of research analyst reports. Zacks Investment Research raised FreightCar America from a “sell” rating to a “hold” rating in a research report on Saturday, August 3rd. ValuEngine raised FreightCar America from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Cowen reaffirmed a “hold” rating and set a $6.00 target price on shares of FreightCar America in a research report on Monday, August 5th. Six research analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $7.00.
In other news, CFO Christopher J. Eppel bought 8,468 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average cost of $6.02 per share, with a total value of $50,977.36. Following the transaction, the chief financial officer now directly owns 50,500 shares in the company, valued at approximately $304,010. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.65% of the company’s stock.
Several large investors have recently made changes to their positions in RAIL. BlackRock Inc. increased its holdings in shares of FreightCar America by 14.1% in the 4th quarter. BlackRock Inc. now owns 969,830 shares of the transportation company’s stock valued at $6,489,000 after acquiring an additional 119,694 shares during the period. Parthenon LLC purchased a new position in shares of FreightCar America in the 1st quarter valued at $725,000. Renaissance Technologies LLC increased its holdings in shares of FreightCar America by 604.0% in the 2nd quarter. Renaissance Technologies LLC now owns 88,000 shares of the transportation company’s stock valued at $517,000 after acquiring an additional 75,500 shares during the period. Minerva Advisors LLC purchased a new position in shares of FreightCar America in the 2nd quarter valued at $427,000. Finally, Paloma Partners Management Co purchased a new position in shares of FreightCar America in the 2nd quarter valued at $311,000. Institutional investors and hedge funds own 77.69% of the company’s stock.
NASDAQ RAIL traded up $0.17 on Friday, reaching $4.15. 86,479 shares of the stock traded hands, compared to its average volume of 113,341. FreightCar America has a 12 month low of $3.97 and a 12 month high of $18.58. The company has a fifty day moving average price of $5.38 and a 200-day moving average price of $6.47. The company has a market cap of $56.12 million, a price-to-earnings ratio of -2.33 and a beta of 1.43. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.32 and a current ratio of 2.21.
FreightCar America Company Profile
FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. It operates through two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.
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