Freightcar America (NASDAQ:RAIL) Lowered to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Freightcar America (NASDAQ:RAIL) from a hold rating to a strong sell rating in a report published on Tuesday morning,Zacks.com reports.

Separately, Weiss Ratings restated a “hold (c)” rating on shares of Freightcar America in a research note on Friday, June 5th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce”.

Freightcar America Price Performance

Freightcar America stock opened at $7.96 on Tuesday. The firm has a 50-day moving average of $8.33 and a 200-day moving average of $9.83. Freightcar America has a one year low of $7.27 and a one year high of $14.90. The company has a market cap of $152.35 million, a price-to-earnings ratio of 10.76 and a beta of 1.44.

Freightcar America (NASDAQ:RAIL) last announced its quarterly earnings data on Monday, May 4th. The transportation company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). Freightcar America had a net margin of 6.25% and a negative return on equity of 15.56%. The company had revenue of $64.31 million during the quarter, compared to the consensus estimate of $74.60 million. As a group, sell-side analysts expect that Freightcar America will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. lifted its stake in Freightcar America by 708.2% in the 4th quarter. Hillsdale Investment Management Inc. now owns 290,954 shares of the transportation company’s stock valued at $3,221,000 after purchasing an additional 254,954 shares during the last quarter. Marshall Wace LLP increased its position in Freightcar America by 92.4% during the fourth quarter. Marshall Wace LLP now owns 446,420 shares of the transportation company’s stock worth $4,942,000 after buying an additional 214,397 shares during the last quarter. Walleye Capital LLC raised its stake in Freightcar America by 907.4% in the fourth quarter. Walleye Capital LLC now owns 170,830 shares of the transportation company’s stock valued at $1,891,000 after buying an additional 153,872 shares during the period. Essex Investment Management Co. LLC raised its stake in Freightcar America by 68.7% in the fourth quarter. Essex Investment Management Co. LLC now owns 346,144 shares of the transportation company’s stock valued at $3,832,000 after buying an additional 140,946 shares during the period. Finally, Millennium Management LLC lifted its position in shares of Freightcar America by 161.9% in the fourth quarter. Millennium Management LLC now owns 153,172 shares of the transportation company’s stock valued at $1,696,000 after buying an additional 94,694 shares during the last quarter. 31.96% of the stock is currently owned by institutional investors and hedge funds.

Freightcar America Company Profile

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.