Freightcar America (NASDAQ:RAIL) Upgraded at Zacks Research

Zacks Research upgraded shares of Freightcar America (NASDAQ:RAIL) from a hold rating to a strong-buy rating in a research report released on Tuesday morning,Zacks.com reports.

A number of other brokerages also recently commented on RAIL. Weiss Ratings upgraded Freightcar America from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday. Wall Street Zen upgraded Freightcar America from a “hold” rating to a “buy” rating in a research note on Sunday, September 28th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Freightcar America has a consensus rating of “Buy” and an average target price of $9.00.

Freightcar America Stock Performance

Shares of RAIL stock opened at $9.75 on Tuesday. The stock’s 50-day simple moving average is $9.03 and its 200-day simple moving average is $8.19. The firm has a market capitalization of $186.49 million, a PE ratio of -13.93 and a beta of 2.19. Freightcar America has a fifty-two week low of $4.31 and a fifty-two week high of $16.10.

Freightcar America (NASDAQ:RAIL) last announced its quarterly earnings data on Wednesday, January 17th. The transportation company reported ($0.21) earnings per share for the quarter. The firm had revenue of $85.74 million during the quarter. Freightcar America had a negative net margin of 2.21% and a negative return on equity of 14.89%. Sell-side analysts forecast that Freightcar America will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On Freightcar America

A number of hedge funds have recently bought and sold shares of the business. Marshall Wace LLP boosted its position in Freightcar America by 12.2% during the second quarter. Marshall Wace LLP now owns 238,331 shares of the transportation company’s stock worth $2,054,000 after purchasing an additional 25,895 shares in the last quarter. North Star Investment Management Corp. purchased a new position in shares of Freightcar America in the second quarter valued at approximately $1,498,000. Russell Investments Group Ltd. lifted its position in shares of Freightcar America by 435.5% in the first quarter. Russell Investments Group Ltd. now owns 141,337 shares of the transportation company’s stock valued at $782,000 after acquiring an additional 114,945 shares in the last quarter. Jane Street Group LLC lifted its position in shares of Freightcar America by 13.1% in the first quarter. Jane Street Group LLC now owns 108,724 shares of the transportation company’s stock valued at $601,000 after acquiring an additional 12,610 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in shares of Freightcar America by 58.8% in the first quarter. Goldman Sachs Group Inc. now owns 106,656 shares of the transportation company’s stock valued at $590,000 after acquiring an additional 39,506 shares in 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.