Zacks Investment Research cut shares of Freightcar America (NASDAQ:RAIL) from a hold rating to a sell rating in a research report sent to investors on Friday, November 17th.
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. “
Separately, Stifel Nicolaus reissued a hold rating and set a $14.00 price objective (down previously from $15.00) on shares of Freightcar America in a report on Tuesday, November 7th. One 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 a consensus rating of Hold and a consensus target price of $16.25.
Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings data on Wednesday, November 1st. The transportation company reported ($0.73) EPS for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.63). Freightcar America had a negative return on equity of 2.56% and a negative net margin of 2.44%. The company had revenue of $72.00 million for the quarter, compared to the consensus estimate of $87.20 million. Freightcar America’s quarterly revenue was down 36.6% on a year-over-year basis. research analysts expect that Freightcar America will post -0.98 earnings per share for the current year.
In other Freightcar America news, Director S Carl Soderstrom, Jr. sold 2,500 shares of the company’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $15.82, for a total transaction of $39,550.00. Following the transaction, the director now directly owns 15,704 shares in the company, valued at approximately $248,437.28. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director S Carl Soderstrom, Jr. sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $15.01, for a total transaction of $30,020.00. Following the transaction, the director now owns 18,204 shares in the company, valued at $273,242.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,500 shares of company stock worth $179,090. Insiders own 4.13% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. acquired a new stake in shares of Freightcar America in the 1st quarter valued at approximately $155,000. KBC Group NV acquired a new stake in shares of Freightcar America in the 3rd quarter valued at approximately $178,000. Eagle Global Advisors LLC acquired a new stake in shares of Freightcar America in the 2nd quarter valued at approximately $201,000. Alliancebernstein L.P. acquired a new stake in shares of Freightcar America in the 2nd quarter valued at approximately $212,000. Finally, Virtu KCG Holdings LLC acquired a new stake in shares of Freightcar America in the 2nd quarter valued at approximately $258,000. Institutional investors and hedge funds own 84.42% of the company’s stock.
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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