Freightcar America (NASDAQ:RAIL) Cut to “Hold” at Wall Street Zen

Wall Street Zen cut shares of Freightcar America (NASDAQ:RAIL) from a buy rating to a hold rating in a research report sent to investors on Saturday.

Separately, Weiss Ratings raised Freightcar America from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, February 23rd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Freightcar America presently has an average rating of “Buy” and a consensus target price of $9.00.

Freightcar America Trading Down 1.4%

Shares of RAIL stock opened at $8.16 on Friday. Freightcar America has a 12 month low of $4.31 and a 12 month high of $14.90. The stock has a market cap of $155.61 million, a P/E ratio of 7.35 and a beta of 1.75. The company has a 50 day simple moving average of $12.11 and a two-hundred day simple moving average of $10.21.

Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings results on Monday, March 9th. The transportation company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.02). Freightcar America had a negative return on equity of 15.54% and a net margin of 7.61%.The business had revenue of $125.57 million for the quarter, compared to analysts’ expectations of $144.95 million. As a group, equities analysts forecast that Freightcar America will post 0.09 earnings per share for the current year.

Institutional Investors Weigh In On Freightcar America

A number of hedge funds have recently made changes to their positions in RAIL. Vanguard Group Inc. boosted its stake in Freightcar America by 2.2% during the third quarter. Vanguard Group Inc. now owns 631,029 shares of the transportation company’s stock valued at $6,171,000 after buying an additional 13,301 shares during the last quarter. Marshall Wace LLP increased its stake in Freightcar America by 92.4% in the 4th quarter. Marshall Wace LLP now owns 446,420 shares of the transportation company’s stock worth $4,942,000 after acquiring an additional 214,397 shares during the last quarter. Essex Investment Management Co. LLC raised its holdings in shares of Freightcar America by 68.7% during the 4th quarter. Essex Investment Management Co. LLC now owns 346,144 shares of the transportation company’s stock worth $3,832,000 after acquiring an additional 140,946 shares in the last quarter. Ancora Advisors LLC raised its holdings in shares of Freightcar America by 12.9% during the 3rd quarter. Ancora Advisors LLC now owns 328,921 shares of the transportation company’s stock worth $3,217,000 after acquiring an additional 37,530 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its position in shares of Freightcar America by 708.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 290,954 shares of the transportation company’s stock valued at $3,221,000 after acquiring an additional 254,954 shares during the last quarter. 31.96% of the stock is currently owned by hedge funds and other institutional investors.

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.