FreightCar America (NASDAQ:RAIL) Rating Lowered to “Buy” at StockNews.com

FreightCar America (NASDAQ:RAIL) was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Wednesday.

FreightCar America Price Performance

Shares of NASDAQ RAIL opened at $5.96 on Wednesday. The stock has a market capitalization of $113.60 million, a P/E ratio of -1.41 and a beta of 2.08. FreightCar America has a 1 year low of $3.02 and a 1 year high of $16.10. The company has a 50-day moving average price of $9.55 and a 200-day moving average price of $10.41.

FreightCar America (NASDAQ:RAIL) last announced its quarterly earnings data on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.05 by $0.16. FreightCar America had a negative net margin of 20.66% and a negative return on equity of 27.10%. The business had revenue of $137.70 million for the quarter, compared to analyst estimates of $152.02 million. As a group, equities research analysts anticipate that FreightCar America will post 0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FreightCar America

A number of hedge funds and other institutional investors have recently bought and sold shares of RAIL. Ancora Advisors LLC bought a new position in shares of FreightCar America during the 4th quarter valued at $2,711,000. Marshall Wace LLP bought a new position in shares of FreightCar America during the fourth quarter valued at about $2,399,000. Arrowstreet Capital Limited Partnership grew its stake in shares of FreightCar America by 125.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company’s stock valued at $3,486,000 after buying an additional 216,307 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of FreightCar America by 128.5% in the fourth quarter. Renaissance Technologies LLC now owns 282,200 shares of the transportation company’s stock worth $2,529,000 after buying an additional 158,700 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of FreightCar America by 90.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company’s stock valued at $1,688,000 after acquiring an additional 89,471 shares during the last quarter. Hedge funds and other institutional investors own 31.96% of the company’s stock.

FreightCar America Company Profile

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.