Zacks Investment Research cut shares of FreightCar America (NASDAQ:RAIL) from a hold rating to a sell rating in a research note released on Friday, February 16th.
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 research analysts also recently issued reports on RAIL. Stifel Nicolaus restated a hold rating and set a $14.00 price target (down previously from $15.00) on shares of FreightCar America in a research note on Tuesday, November 7th. Seaport Global Securities began coverage on FreightCar America in a research note on Thursday, January 4th. They set a neutral rating on the stock. Finally, ValuEngine downgraded FreightCar America from a hold rating to a sell rating in a research note on Saturday, January 13th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The company presently has a consensus rating of Hold and an average target price of $15.75.
FreightCar America (NASDAQ:RAIL) last released its quarterly earnings results on Monday, February 26th. The transportation company reported ($0.58) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.23). The firm had revenue of $79.24 million for the quarter, compared to analysts’ expectations of $105.65 million. FreightCar America had a negative return on equity of 5.75% and a negative net margin of 5.51%. research analysts expect that FreightCar America will post -1.53 EPS for the current fiscal year.
A number of institutional investors have recently bought and sold shares of RAIL. Alliancebernstein L.P. acquired a new stake in FreightCar America during the 2nd quarter worth approximately $212,000. Ameriprise Financial Inc. lifted its position in FreightCar America by 109.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 25,917 shares of the transportation company’s stock worth $456,000 after acquiring an additional 13,527 shares during the period. Nationwide Fund Advisors lifted its position in FreightCar America by 80.7% during the 2nd quarter. Nationwide Fund Advisors now owns 34,265 shares of the transportation company’s stock worth $596,000 after acquiring an additional 15,300 shares during the period. Northern Trust Corp lifted its position in FreightCar America by 5.3% during the 2nd quarter. Northern Trust Corp now owns 142,774 shares of the transportation company’s stock worth $2,483,000 after acquiring an additional 7,183 shares during the period. Finally, Virtu KCG Holdings LLC acquired a new stake in FreightCar America during the 2nd quarter worth approximately $258,000. 86.16% of the stock is owned by institutional investors.
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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