Pacific Ridge Capital Partners LLC bought a new stake in shares of FreightCar America, Inc. (NASDAQ:RAIL) in the 4th quarter, HoldingsChannel.com reports. The firm bought 137,240 shares of the transportation company’s stock, valued at approximately $2,344,000.
Other hedge funds have also recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake in FreightCar America by 234.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,875 shares of the transportation company’s stock valued at $151,000 after buying an additional 6,221 shares in the last quarter. KBC Group NV bought a new position in FreightCar America during the third quarter valued at about $178,000. Alliancebernstein L.P. bought a new position in FreightCar America during the second quarter valued at about $212,000. The Manufacturers Life Insurance Company boosted its stake in FreightCar America by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 18,950 shares of the transportation company’s stock valued at $330,000 after buying an additional 1,196 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in FreightCar America by 22.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 21,600 shares of the transportation company’s stock valued at $369,000 after buying an additional 3,900 shares in the last quarter. 87.64% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on RAIL. Zacks Investment Research cut FreightCar America from a “hold” rating to a “sell” rating in a research note on Friday, February 16th. ValuEngine downgraded FreightCar America from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Seaport Global Securities started coverage on FreightCar America in a report on Thursday, January 4th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $14.00 target price (down from $15.00) on shares of FreightCar America in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.25.
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FreightCar America 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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