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

StockNews.com downgraded shares of FreightCar America (NASDAQ:RAIL) from a strong-buy rating to a buy rating in a report released on Wednesday.

FreightCar America Stock Performance

Shares of RAIL stock opened at $5.64 on Wednesday. FreightCar America has a fifty-two week low of $3.02 and a fifty-two week high of $16.10. The stock has a 50 day simple moving average of $9.42 and a two-hundred day simple moving average of $10.39. The company has a market cap of $107.50 million, a P/E ratio of -1.33 and a beta of 2.08.

FreightCar America (NASDAQ:RAIL) last released its quarterly earnings data on Wednesday, March 12th. The transportation company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.16. The company had revenue of $137.70 million during 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%. On average, research analysts predict that FreightCar America will post 0.09 earnings per share for the current year.

Institutional Trading of FreightCar America

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

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.