Zacks Investment Research downgraded shares of Freightcar America, Inc. (NASDAQ:RAIL) from a hold rating to a sell rating in a research report sent to investors on Friday morning.
According to Zacks, “FreightCar America, Inc. manufactures railroad freight cars, with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds flat cars, mill gondola cars, intermodal cars, coil steel cars and motor vehicle carriers. It is headquartered in Chicago, Illinois and has manufacturing facilities in Danville, Illinois, Roanoke, Virginia and Johnstown, Pennsylvania. “
Separately, Stifel Nicolaus reissued a hold rating and issued a $14.00 target price (down previously from $15.00) on shares of Freightcar America in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock has a consensus rating of Hold and an average price target of $16.25.
Freightcar America (NASDAQ:RAIL) opened at $15.50 on Friday. Freightcar America has a 1-year low of $12.07 and a 1-year high of $20.46.
Freightcar America (NASDAQ:RAIL) last released its quarterly earnings data on Wednesday, November 1st. The transportation company reported ($0.73) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.63). Freightcar America had a negative net margin of 2.44% and a negative return on equity of 2.56%. The business had revenue of $72.00 million for the quarter, compared to the consensus estimate of $87.20 million. The company’s revenue was down 36.6% on a year-over-year basis. equities analysts expect that Freightcar America will post -0.98 EPS for the current year.
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In other Freightcar America news, Director S Carl Soderstrom, Jr. sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $15.01, for a total transaction of $30,020.00. Following the transaction, the director now owns 18,204 shares of the company’s stock, valued at approximately $273,242.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider James R. Meyer bought 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The shares were acquired at an average cost of $14.34 per share, for a total transaction of $143,400.00. Following the completion of the acquisition, the insider now directly owns 2,619 shares in the company, valued at approximately $37,556.46. The disclosure for this purchase can be found here. 4.13% of the stock is currently owned by company insiders.
Several hedge funds have recently bought and sold shares of the stock. Rhumbline Advisers increased its holdings in shares of Freightcar America by 2.5% during the 2nd quarter. Rhumbline Advisers now owns 15,664 shares of the transportation company’s stock worth $272,000 after acquiring an additional 387 shares during the last quarter. Malaga Cove Capital LLC increased its holdings in shares of Freightcar America by 3.0% during the 2nd quarter. Malaga Cove Capital LLC now owns 23,676 shares of the transportation company’s stock worth $413,000 after acquiring an additional 700 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Freightcar America by 6.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,950 shares of the transportation company’s stock worth $330,000 after acquiring an additional 1,196 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Freightcar America by 3.7% during the 1st quarter. Geode Capital Management LLC now owns 98,883 shares of the transportation company’s stock worth $1,239,000 after acquiring an additional 3,520 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Freightcar America by 1.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 219,916 shares of the transportation company’s stock worth $3,825,000 after acquiring an additional 3,831 shares during the last quarter. 85.43% of the stock is currently owned by institutional investors and hedge funds.
Freightcar America Company Profile
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
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