Shares of FreightCar America, Inc. (NASDAQ:RAIL) have earned an average recommendation of “Hold” from the seven research firms that are currently covering the stock, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and four have issued a hold recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $14.67.
A number of research analysts have recently weighed in on RAIL shares. Seaport Global Securities started coverage on FreightCar America in a report on Thursday, January 4th. They set a “neutral” rating on the stock. ValuEngine downgraded FreightCar America from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. Zacks Investment Research upgraded FreightCar America from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Buckingham Research lowered their price target on FreightCar America from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Cowen reiterated a “hold” rating and set a $14.00 price target on shares of FreightCar America in a report on Thursday, March 1st.
Shares of RAIL stock opened at $13.54 on Friday. FreightCar America has a 1-year low of $12.18 and a 1-year high of $20.46.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in FreightCar America by 234.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,875 shares of the transportation company’s stock valued at $151,000 after purchasing an additional 6,221 shares during the last quarter. KBC Group NV acquired a new stake in FreightCar America during the third quarter valued at $178,000. Investors Research Corp acquired a new stake in FreightCar America during the fourth quarter valued at $233,000. Schwab Charles Investment Management Inc. boosted its position in FreightCar America by 22.0% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 21,600 shares of the transportation company’s stock valued at $369,000 after purchasing an additional 3,900 shares during the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in FreightCar America during the fourth quarter valued at $651,000. 85.81% of the stock is owned by hedge funds and other institutional investors.
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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