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 report released on Saturday.

Other research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Zacks Research upgraded Freightcar America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

Freightcar America Stock Performance

Freightcar America stock opened at $9.04 on Friday. The company has a market cap of $172.48 million, a P/E ratio of 3.42 and a beta of 1.66. Freightcar America has a 1 year low of $4.31 and a 1 year high of $13.64. The firm’s 50-day moving average is $8.83 and its 200-day moving average is $9.17.

Freightcar America (NASDAQ:RAIL) last posted its earnings results on Monday, November 10th. The transportation company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.08. The company had revenue of $160.51 million for the quarter, compared to analysts’ expectations of $157.25 million. Freightcar America had a negative return on equity of 17.35% and a net margin of 17.40%. As a group, sell-side analysts predict that Freightcar America will post 0.09 earnings per share for the current year.

Institutional Investors Weigh In On Freightcar America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets increased its stake in Freightcar America by 208.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock worth $29,000 after purchasing an additional 1,984 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Freightcar America by 24.7% in the second quarter. Raymond James Financial Inc. now owns 20,545 shares of the transportation company’s stock worth $177,000 after buying an additional 4,067 shares during the period. AlphaQuest LLC increased its position in shares of Freightcar America by 30.8% in the second quarter. AlphaQuest LLC now owns 21,181 shares of the transportation company’s stock worth $183,000 after acquiring an additional 4,984 shares in the last quarter. Quarry LP purchased a new position in shares of Freightcar America in the third quarter worth approximately $53,000. Finally, Ritholtz Wealth Management raised its holdings in shares of Freightcar America by 54.6% during the second quarter. Ritholtz Wealth Management now owns 16,382 shares of the transportation company’s stock valued at $141,000 after acquiring an additional 5,789 shares during the period. Institutional investors own 31.96% of the company’s stock.

About Freightcar America

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.