Equities research analysts at StockNews.com initiated coverage on shares of FreightCar America (NASDAQ:RAIL – Get Rating) in a research note issued to investors on Sunday. The brokerage set a “sell” rating on the transportation company’s stock.
FreightCar America Trading Down 1.5 %
Shares of NASDAQ RAIL opened at $3.20 on Friday. The stock has a fifty day simple moving average of $3.55 and a two-hundred day simple moving average of $3.70. FreightCar America has a 1-year low of $3.07 and a 1-year high of $6.90. The firm has a market cap of $55.10 million, a price-to-earnings ratio of -2.76 and a beta of 2.13.
Institutional Investors Weigh In On FreightCar America
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH increased its stake in shares of FreightCar America by 69.9% in the first quarter. Allianz Asset Management GmbH now owns 693,077 shares of the transportation company’s stock worth $4,096,000 after purchasing an additional 285,119 shares in the last quarter. Walleye Capital LLC bought a new position in FreightCar America in the 1st quarter worth approximately $820,000. Ancora Advisors LLC purchased a new position in FreightCar America in the 1st quarter valued at approximately $386,000. Renaissance Technologies LLC bought a new stake in FreightCar America during the 2nd quarter valued at $156,000. Finally, PDT Partners LLC purchased a new stake in shares of FreightCar America during the second quarter worth $94,000. 87.26% of the stock is currently owned by institutional investors.
About FreightCar America
FreightCar America, Inc engages in the manufacture of railcars and railcar components. It operates through the Manufacturing and Corporate and Other segments. The Manufacturing segment includes new railcar manufacturing, used railcar sales, railcar leasing and major railcar rebuilds. The Corporate and Other segment focuses on the sales of parts.
Featured Stories
- Get a free copy of the StockNews.com research report on FreightCar America (RAIL)
- MarketBeat Week in Review – 3/13 – 3/17
- This Small Tech With Big Growth Prospects Is Nearing A Buy Point
- Don’t Chase FedEx Higher, Wait For The Pullback
- 3 Stocks For A Defensive Tech Portfolio
- Milk the Dividends on These 3 Cash Cows
Receive News & Ratings for FreightCar America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FreightCar America and related companies with MarketBeat.com's FREE daily email newsletter.
