Freightcar America, Inc. (NASDAQ:RAIL) insider James R. Meyer bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was acquired at an average price of $14.34 per share, for a total transaction of $143,400.00. Following the transaction, the insider now owns 2,619 shares in the company, valued at $37,556.46. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Freightcar America, Inc. (NASDAQ:RAIL) opened at $15.26 on Friday. Freightcar America, Inc. has a 52 week low of $12.07 and a 52 week high of $20.46.
Freightcar America (NASDAQ:RAIL) last announced its earnings results on Wednesday, November 1st. The transportation company reported ($0.73) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.63). The company had revenue of $72.00 million for the quarter, compared to the consensus estimate of $87.20 million. Freightcar America had a negative net margin of 2.44% and a negative return on equity of 2.56%. The firm’s revenue for the quarter was down 36.6% on a year-over-year basis. equities analysts expect that Freightcar America, Inc. will post -0.98 earnings per share for the current year.
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A number of brokerages recently commented on RAIL. Zacks Investment Research cut shares of Freightcar America from a “hold” rating to a “sell” rating in a research report on Friday. Stifel Nicolaus reiterated a “hold” rating and issued a $14.00 target price (down previously from $15.00) on shares of Freightcar America in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.25.
A number of large investors have recently bought and sold shares of the stock. Royce & Associates LP boosted its stake in Freightcar America by 5.1% during the second quarter. Royce & Associates LP now owns 1,280,893 shares of the transportation company’s stock worth $22,275,000 after acquiring an additional 62,587 shares in the last quarter. Boston Partners boosted its stake in Freightcar America by 14.6% during the third quarter. Boston Partners now owns 1,082,820 shares of the transportation company’s stock worth $21,180,000 after acquiring an additional 138,021 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Freightcar America by 1.0% during the second quarter. Dimensional Fund Advisors LP now owns 1,051,992 shares of the transportation company’s stock worth $18,294,000 after acquiring an additional 10,628 shares in the last quarter. Vanguard Group Inc. boosted its stake in Freightcar America by 19.0% during the first quarter. Vanguard Group Inc. now owns 560,112 shares of the transportation company’s stock worth $7,019,000 after acquiring an additional 89,375 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in Freightcar America by 23.0% during the third quarter. Russell Investments Group Ltd. now owns 397,287 shares of the transportation company’s stock worth $7,770,000 after acquiring an additional 74,251 shares in the last quarter. 83.69% of the stock is currently owned by institutional investors and hedge funds.
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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