FreightCar America, Inc. (RAIL) Receives $17.75 Average Price Target from Analysts

Shares of FreightCar America, Inc. (NASDAQ:RAIL) have received an average recommendation of “Hold” from the nine ratings firms that are currently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation. The average 12-month price objective among brokers that have covered the stock in the last year is $17.75.

A number of research analysts have weighed in on the stock. ValuEngine cut shares of FreightCar America from a “buy” rating to a “hold” rating in a research report on Tuesday, September 4th. Stephens reaffirmed a “hold” rating and set a $19.00 price target on shares of FreightCar America in a research report on Thursday, August 2nd. CL King cut shares of FreightCar America from a “buy” rating to a “neutral” rating in a research report on Thursday. Stifel Nicolaus set a $19.00 price target on shares of FreightCar America and gave the company a “hold” rating in a research report on Friday, August 3rd. Finally, Buckingham Research lifted their price target on shares of FreightCar America from $16.00 to $19.00 and gave the company a “neutral” rating in a research report on Monday, August 13th.

A number of hedge funds have recently made changes to their positions in RAIL. Royce & Associates LP lifted its position in FreightCar America by 15.0% during the second quarter. Royce & Associates LP now owns 1,460,910 shares of the transportation company’s stock valued at $24,529,000 after buying an additional 190,689 shares in the last quarter. Russell Investments Group Ltd. lifted its position in FreightCar America by 4.6% during the second quarter. Russell Investments Group Ltd. now owns 1,485,733 shares of the transportation company’s stock valued at $24,937,000 after buying an additional 65,922 shares in the last quarter. JPMorgan Chase & Co. lifted its position in FreightCar America by 109.5% during the first quarter. JPMorgan Chase & Co. now owns 109,421 shares of the transportation company’s stock valued at $1,466,000 after buying an additional 57,198 shares in the last quarter. Wells Fargo & Company MN lifted its position in FreightCar America by 4.1% during the second quarter. Wells Fargo & Company MN now owns 760,776 shares of the transportation company’s stock valued at $12,783,000 after buying an additional 30,042 shares in the last quarter. Finally, Chicago Equity Partners LLC acquired a new position in FreightCar America during the third quarter valued at approximately $476,000. 84.82% of the stock is currently owned by hedge funds and other institutional investors.

FreightCar America stock opened at $10.18 on Wednesday. FreightCar America has a 1 year low of $10.18 and a 1 year high of $20.14.

FreightCar America (NASDAQ:RAIL) last released its earnings results on Wednesday, October 31st. The transportation company reported ($0.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.24). FreightCar America had a negative net margin of 8.46% and a negative return on equity of 9.71%. The company had revenue of $78.97 million during the quarter, compared to analysts’ expectations of $66.00 million. On average, analysts forecast that FreightCar America will post -1.17 EPS for the current fiscal year.

FreightCar America Company Profile

FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.

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Analyst Recommendations for FreightCar America (NASDAQ:RAIL)

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