Freightcar America, Inc. (NASDAQ:RAIL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The brokerage currently has a $19.00 target price on the transportation company’s stock. Zacks Investment Research‘s target price would suggest a potential upside of 11.37% from the stock’s current price.
According to Zacks, “FreightCar America, Inc. manufactures railroad freight cars, with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds flat cars, mill gondola cars, intermodal cars, coil steel cars and motor vehicle carriers. It is headquartered in Chicago, Illinois and has manufacturing facilities in Danville, Illinois, Roanoke, Virginia and Johnstown, Pennsylvania. “
Other equities analysts have also recently issued reports about the stock. Buckingham Research started coverage on shares of Freightcar America in a research report on Wednesday, June 21st. They set a “neutral” rating and a $17.00 price objective for the company. ValuEngine upgraded shares of Freightcar America from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Cowen and Company restated a “hold” rating and set a $15.00 price objective on shares of Freightcar America in a research report on Tuesday, July 11th. Five analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $16.00.
Shares of Freightcar America (RAIL) opened at 17.06 on Tuesday. The company has a market capitalization of $211.89 million, a P/E ratio of 812.38 and a beta of 1.60. Freightcar America has a 12 month low of $10.87 and a 12 month high of $18.19. The stock’s 50 day moving average is $17.11 and its 200 day moving average is $15.01.
In other Freightcar America news, insider Theodore W. Baun sold 4,481 shares of the company’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $17.25, for a total transaction of $77,297.25. Following the completion of the transaction, the insider now directly owns 14,502 shares in the company, valued at $250,159.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 4.13% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Ironwood Investment Management LLC boosted its stake in shares of Freightcar America by 3.8% in the first quarter. Ironwood Investment Management LLC now owns 11,730 shares of the transportation company’s stock worth $147,000 after buying an additional 433 shares during the period. Ameriprise Financial Inc. acquired a new stake in shares of Freightcar America during the first quarter worth approximately $155,000. Eqis Capital Management Inc. boosted its stake in shares of Freightcar America by 0.8% in the first quarter. Eqis Capital Management Inc. now owns 13,444 shares of the transportation company’s stock worth $168,000 after buying an additional 104 shares during the period. Malaga Cove Capital LLC acquired a new stake in shares of Freightcar America during the first quarter worth approximately $283,000. Finally, Goldman Sachs Group Inc. acquired a new stake in shares of Freightcar America during the first quarter worth approximately $331,000. Institutional investors own 77.72% of the company’s stock.
About Freightcar America
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
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