Wall Street Zen Upgrades Freightcar America (NASDAQ:RAIL) to “Buy”
by Kim Johansen · The Markets DailyFreightcar America (NASDAQ:RAIL – Get Free Report) was upgraded by research analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Sunday.
Other research analysts have also issued reports about the company. Weiss Ratings lowered Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Zacks Research upgraded Freightcar America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.00.
Freightcar America Trading Up 1.2%
Freightcar America stock opened at $11.64 on Friday. Freightcar America has a 1 year low of $4.31 and a 1 year high of $13.64. The company has a market cap of $222.09 million, a PE ratio of 4.41 and a beta of 1.66. The company’s 50-day moving average is $9.01 and its two-hundred day moving average is $9.27.
Freightcar America (NASDAQ:RAIL – Get Free Report) last issued its quarterly earnings results on Monday, November 10th. The transportation company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.16 by $0.08. Freightcar America had a net margin of 17.40% and a negative return on equity of 17.35%. The company had revenue of $160.51 million during the quarter, compared to analysts’ expectations of $157.25 million. Research analysts forecast that Freightcar America will post 0.09 EPS for the current year.
Institutional Investors Weigh In On Freightcar America
Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in shares of Freightcar America by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 631,029 shares of the transportation company’s stock valued at $6,171,000 after purchasing an additional 13,301 shares during the period. Ancora Advisors LLC lifted its stake in Freightcar America by 12.9% in the 3rd quarter. Ancora Advisors LLC now owns 328,921 shares of the transportation company’s stock valued at $3,217,000 after acquiring an additional 37,530 shares in the last quarter. Minerva Advisors LLC boosted its position in Freightcar America by 18.1% during the 3rd quarter. Minerva Advisors LLC now owns 258,546 shares of the transportation company’s stock worth $2,529,000 after acquiring an additional 39,541 shares during the last quarter. Marshall Wace LLP grew its stake in shares of Freightcar America by 12.2% during the 2nd quarter. Marshall Wace LLP now owns 238,331 shares of the transportation company’s stock worth $2,054,000 after acquiring an additional 25,895 shares in the last quarter. Finally, Essex Investment Management Co. LLC bought a new position in shares of Freightcar America during the 3rd quarter worth approximately $2,007,000. 31.96% of the stock is owned by institutional investors.
About Freightcar America
FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.
Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.