FreightCar America (NASDAQ:RAIL) Upgraded at StockNews.com

StockNews.com upgraded shares of FreightCar America (NASDAQ:RAIL) from a buy rating to a strong-buy rating in a research report report published on Tuesday.

FreightCar America Stock Up 0.2 %

Shares of NASDAQ RAIL opened at $6.43 on Tuesday. The firm’s 50-day moving average price is $10.00 and its two-hundred day moving average price is $10.46. FreightCar America has a 52-week low of $3.02 and a 52-week high of $16.10. The stock has a market capitalization of $122.56 million, a P/E ratio of -1.52 and a beta of 2.08.

FreightCar America (NASDAQ:RAIL) last announced its quarterly earnings results on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, beating 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 company had revenue of $137.70 million for the quarter, compared to analyst estimates of $152.02 million. As a group, equities research analysts expect that FreightCar America will post 0.09 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership grew its position in FreightCar America by 125.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company’s stock worth $3,486,000 after buying an additional 216,307 shares during the last quarter. Ancora Advisors LLC acquired a new position in FreightCar America in the fourth quarter worth approximately $2,711,000. Renaissance Technologies LLC grew its position in 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 last quarter. Marshall Wace LLP acquired a new position in FreightCar America in the fourth quarter worth approximately $2,399,000. Finally, Allspring Global Investments Holdings LLC grew its position in FreightCar America by 90.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company’s stock worth $1,688,000 after buying an additional 89,471 shares during the last quarter. Institutional investors and hedge funds own 31.96% of the company’s stock.

About FreightCar America

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.