Zacks Investment Research Lowers Freightcar America, Inc. (NASDAQ:RAIL) to Hold

Zacks Investment Research cut shares of Freightcar America, Inc. (NASDAQ:RAIL) from a buy rating to a hold rating in a research report report published on Wednesday, July 19th.

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. “

Several other brokerages have also recently commented on RAIL. Cowen and Company reiterated a hold rating and issued a $15.00 price objective on shares of Freightcar America in a research note on Tuesday, July 11th. ValuEngine upgraded shares of Freightcar America from a sell rating to a hold rating in a research note on Friday, June 2nd. Finally, Buckingham Research began coverage on shares of Freightcar America in a research note on Wednesday, June 21st. They issued a neutral rating and a $17.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, The stock currently has an average rating of Hold and an average price target of $16.00.

Shares of Freightcar America (RAIL) opened at 19.00 on Wednesday. The stock’s 50 day moving average is $17.05 and its 200-day moving average is $15.10. The stock has a market cap of $233.38 million, a PE ratio of 730.77 and a beta of 1.60. Freightcar America has a 1-year low of $10.87 and a 1-year high of $19.19.

Freightcar America (NASDAQ:RAIL) last announced its quarterly earnings data on Wednesday, August 2nd. The transportation company reported ($0.04) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). Freightcar America had a net margin of 0.06% and a return on equity of 1.61%. The firm had revenue of $118.67 million during the quarter, compared to analysts’ expectations of $108.43 million. During the same quarter last year, the business earned ($0.04) earnings per share. The business’s revenue for the quarter was down 5.9% compared to the same quarter last year. On average, analysts predict that Freightcar America will post ($0.25) EPS for the current fiscal year.

ILLEGAL ACTIVITY WARNING: This news story was originally posted by [[site]] and is owned by of [[site]]. If you are viewing this news story on another website, it was illegally stolen and republished in violation of US & international copyright & trademark legislation. The original version of this news story can be viewed at [[permalink]].

In other Freightcar America news, insider Theodore W. Baun sold 4,481 shares of the firm’s stock in a transaction dated 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 approximately $250,159.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.13% of the company’s stock.

Institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in Freightcar America by 13.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,005,842 shares of the transportation company’s stock valued at $15,017,000 after buying an additional 120,633 shares during the period. Ironwood Investment Management LLC increased its position in Freightcar America by 3.8% in the first quarter. Ironwood Investment Management LLC now owns 11,730 shares of the transportation company’s stock valued at $147,000 after buying an additional 433 shares during the period. Malaga Cove Capital LLC purchased a new stake in shares of Freightcar America during the first quarter worth approximately $283,000. Wells Fargo & Company MN increased its stake in shares of Freightcar America by 83.6% in the first quarter. Wells Fargo & Company MN now owns 619,186 shares of the transportation company’s stock worth $7,758,000 after buying an additional 281,985 shares during the period. Finally, Strs Ohio increased its stake in shares of Freightcar America by 77.8% in the first quarter. Strs Ohio now owns 30,400 shares of the transportation company’s stock worth $380,000 after buying an additional 13,300 shares during the period. Hedge funds and other institutional investors own 76.50% 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.

Get a free copy of the Zacks research report on Freightcar America (RAIL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com