Freightcar America (NASDAQ:RAIL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Freightcar America (NASDAQ:RAIL) from a hold rating to a buy rating in a research note released on Sunday.

Several other analysts also recently weighed in on the stock. Weiss Ratings downgraded shares of Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Zacks Research raised shares of Freightcar America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $9.00.

Freightcar America Trading Down 2.7%

Shares of RAIL opened at $11.32 on Friday. The firm has a market capitalization of $215.99 million, a price-to-earnings ratio of 4.29 and a beta of 1.66. The firm’s fifty day simple moving average is $9.04 and its 200-day simple moving average is $9.29. Freightcar America has a twelve month low of $4.31 and a twelve month high of $13.64.

Freightcar America (NASDAQ:RAIL) last released its quarterly earnings data on Monday, November 10th. The transportation company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.16 by $0.08. The business had revenue of $160.51 million for the quarter, compared to the consensus estimate of $157.25 million. Freightcar America had a negative return on equity of 17.35% and a net margin of 17.40%. On average, analysts predict 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 the company. Sender Co & Partners Inc. acquired a new position in Freightcar America in the 3rd quarter valued at $127,000. PharVision Advisers LLC purchased a new stake in shares of Freightcar America in the third quarter valued at about $288,000. Quarry LP acquired a new position in shares of Freightcar America during the third quarter worth about $53,000. Qube Research & Technologies Ltd purchased a new position in Freightcar America during the third quarter worth about $321,000. Finally, Centiva Capital LP purchased a new position in Freightcar America during the third quarter worth about $135,000. 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.