FreightCar America, Inc. (RAIL) Given Average Recommendation of “Hold” by Analysts

FreightCar America, Inc. (NASDAQ:RAIL) has received an average recommendation of “Hold” from the six brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating and five have issued a hold rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $15.33.

A number of equities analysts recently issued reports on RAIL shares. Zacks Investment Research raised shares of FreightCar America from a “sell” rating to a “hold” rating in a research note on Wednesday, October 18th. Stifel Nicolaus reissued a “hold” rating and issued a $14.00 price target (down from $15.00) on shares of FreightCar America in a research note on Tuesday, November 7th. Finally, Seaport Global Securities assumed coverage on shares of FreightCar America in a report on Thursday. They issued a “neutral” rating on the stock.

In other FreightCar America news, insider James R. Meyer acquired 10,000 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were acquired at an average price of $14.34 per share, for a total transaction of $143,400.00. Following the completion of the acquisition, the insider now owns 2,619 shares in the company, valued at $37,556.46. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director S Carl Soderstrom, Jr. sold 2,000 shares of the company’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $15.01, for a total transaction of $30,020.00. Following the completion of the sale, the director now owns 18,204 shares in the company, valued at approximately $273,242.04. The disclosure for this sale can be found here. In the last 90 days, insiders sold 11,500 shares of company stock worth $179,090. Corporate insiders own 4.13% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Rhumbline Advisers grew its holdings in shares of FreightCar America by 2.5% during the second quarter. Rhumbline Advisers now owns 15,664 shares of the transportation company’s stock valued at $272,000 after buying an additional 387 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of FreightCar America by 6.7% during the second quarter. The Manufacturers Life Insurance Company now owns 18,950 shares of the transportation company’s stock valued at $330,000 after buying an additional 1,196 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of FreightCar America by 1.8% during the second quarter. Bank of New York Mellon Corp now owns 219,916 shares of the transportation company’s stock valued at $3,825,000 after buying an additional 3,831 shares during the last quarter. Northern Trust Corp grew its holdings in shares of FreightCar America by 5.3% during the second quarter. Northern Trust Corp now owns 142,774 shares of the transportation company’s stock valued at $2,483,000 after buying an additional 7,183 shares during the last quarter. Finally, Nationwide Fund Advisors grew its holdings in shares of FreightCar America by 25.4% during the third quarter. Nationwide Fund Advisors now owns 42,967 shares of the transportation company’s stock valued at $840,000 after buying an additional 8,702 shares during the last quarter. Hedge funds and other institutional investors own 84.30% of the company’s stock.

FreightCar America (RAIL) traded down $0.05 during mid-day trading on Thursday, reaching $16.58. 2,945 shares of the company were exchanged, compared to its average volume of 75,935. FreightCar America has a 12 month low of $12.07 and a 12 month high of $20.46. The company has a market capitalization of $205.46, a P/E ratio of -18.02 and a beta of 1.65.

FreightCar America (NASDAQ:RAIL) last released its quarterly earnings results on Wednesday, November 1st. The transportation company reported ($0.73) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.63). FreightCar America had a negative return on equity of 2.56% and a negative net margin of 2.44%. The company had revenue of $72.00 million during the quarter, compared to the consensus estimate of $87.20 million. FreightCar America’s quarterly revenue was down 36.6% compared to the same quarter last year. equities research analysts anticipate that FreightCar America will post -1 EPS for the current year.

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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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