Zacks Investment Research lowered shares of Freightcar America, Inc. (NASDAQ:RAIL) from a buy rating to a hold rating in a report issued on Tuesday, July 25th.
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. “
A number of other analysts have also recently weighed in on the stock. Cowen and Company reissued a hold rating and set a $15.00 price objective on shares of Freightcar America in a report on Tuesday, July 11th. Buckingham Research started coverage on shares of Freightcar America in a report on Wednesday, June 21st. They set a neutral rating and a $17.00 price objective on the stock. Finally, ValuEngine raised shares of Freightcar America from a sell rating to a hold rating in a report on Friday, June 2nd. Five research analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and an average price target of $16.00.
Shares of Freightcar America (NASDAQ RAIL) traded up 2.63% on Tuesday, reaching $19.11. 60,599 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $17.05 and a 200 day moving average of $15.10. Freightcar America has a one year low of $10.87 and a one year high of $19.66. The firm has a market capitalization of $234.73 million, a P/E ratio of 735.00 and a beta of 1.60.
Freightcar America (NASDAQ:RAIL) last released its quarterly earnings data on Wednesday, August 2nd. The transportation company reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). Freightcar America had a net margin of 0.06% and a return on equity of 1.61%. The company had revenue of $118.67 million for the quarter, compared to analysts’ expectations of $108.43 million. During the same quarter last year, the company earned ($0.04) earnings per share. The firm’s revenue for the quarter was down 5.9% on a year-over-year basis. On average, equities research analysts predict that Freightcar America will post ($0.21) EPS for the current year.
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The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 23rd. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 1.93%. Freightcar America’s payout ratio is currently 1,800.00%.
In other news, insider Theodore W. Baun sold 4,481 shares of Freightcar America stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $17.25, for a total value of $77,297.25. Following the transaction, the insider now directly owns 14,502 shares of the company’s stock, valued at approximately $250,159.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.13% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Royce & Associates LP boosted its position in shares of Freightcar America by 5.1% in the second quarter. Royce & Associates LP now owns 1,280,893 shares of the transportation company’s stock worth $22,275,000 after buying an additional 62,587 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Freightcar America by 1.8% in the second quarter. Bank of New York Mellon Corp now owns 219,916 shares of the transportation company’s stock worth $3,825,000 after buying an additional 3,831 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Freightcar America by 2.5% in the second quarter. Rhumbline Advisers now owns 15,664 shares of the transportation company’s stock worth $272,000 after buying an additional 387 shares during the last quarter. Spark Investment Management LLC acquired a new position in shares of Freightcar America during the second quarter worth approximately $293,000. Finally, Eagle Global Advisors LLC acquired a new position in shares of Freightcar America during the second quarter worth approximately $201,000. 76.09% of the stock is currently owned by institutional investors and hedge funds.
Freightcar America Company Profile
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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