Freightcar America (NASDAQ:RAIL) Announces Earnings Results

Freightcar America (NASDAQ:RAIL) issued its quarterly earnings data on Monday. The transportation company reported ($0.02) earnings per share (EPS) for the quarter, FiscalAI reports. The business had revenue of $113.14 million for the quarter, compared to analysts’ expectations of $110.41 million. Freightcar America had a negative return on equity of 9.86% and a negative net margin of 2.69%.

Freightcar America Stock Down 4.9%

NASDAQ RAIL traded down $0.42 during trading hours on Wednesday, hitting $8.12. 77,647 shares of the stock were exchanged, compared to its average volume of 198,795. The company has a market cap of $155.39 million, a price-to-earnings ratio of 10.97 and a beta of 1.48. Freightcar America has a 12-month low of $7.27 and a 12-month high of $14.90. The stock has a 50-day moving average of $8.37 and a 200 day moving average of $9.52.

Hedge Funds Weigh In On Freightcar America

Several institutional investors and hedge funds have recently added to or reduced their stakes in RAIL. XTX Topco Ltd raised its stake in shares of Freightcar America by 100.9% during the 4th quarter. XTX Topco Ltd now owns 45,470 shares of the transportation company’s stock worth $503,000 after buying an additional 22,839 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in Freightcar America in the fourth quarter worth $160,000. Millennium Management LLC lifted its holdings in 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 acquiring an additional 94,694 shares during the period. Man Group plc boosted its position in shares of Freightcar America by 15.8% during the 4th quarter. Man Group plc now owns 30,743 shares of the transportation company’s stock worth $340,000 after purchasing an additional 4,191 shares in the last quarter. Finally, 683 Capital Management LLC purchased a new position in shares of Freightcar America in the 4th quarter valued at about $726,000. Institutional investors and hedge funds own 31.96% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RAIL. Weiss Ratings restated a “hold (c)” rating on shares of Freightcar America in a research report on Friday, June 5th. Zacks Research downgraded Freightcar America from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

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.