FreightCar America (NASDAQ:RAIL) Lowered to Hold Rating by StockNews.com

FreightCar America (NASDAQ:RAILGet Free Report) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a report issued on Tuesday.

FreightCar America Stock Performance

Shares of NASDAQ RAIL traded up $0.39 during midday trading on Tuesday, hitting $12.21. 97,942 shares of the company traded hands, compared to its average volume of 183,956. FreightCar America has a 12-month low of $2.70 and a 12-month high of $16.10. The firm has a market cap of $230.65 million, a P/E ratio of -2.88 and a beta of 1.96. The stock has a 50-day moving average price of $10.45 and a 200 day moving average price of $9.56.

Insider Activity

In other FreightCar America news, Director James R. Meyer purchased 23,400 shares of the firm’s stock in a transaction that occurred on Thursday, November 14th. The stock was bought at an average cost of $10.74 per share, for a total transaction of $251,316.00. Following the purchase, the director now directly owns 838,278 shares in the company, valued at $9,003,105.72. The trade was a 2.87 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On FreightCar America

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in FreightCar America by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock worth $104,000 after purchasing an additional 5,880 shares in the last quarter. Renaissance Technologies LLC raised its holdings in FreightCar America by 43.4% in the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock worth $408,000 after buying an additional 35,387 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new position in shares of FreightCar America in the third quarter worth approximately $1,067,000. Quantbot Technologies LP purchased a new stake in shares of FreightCar America during the third quarter valued at approximately $49,000. Finally, Walleye Capital LLC purchased a new stake in shares of FreightCar America during the third quarter valued at approximately $813,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

FreightCar America Company Profile

(Get Free Report)

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.

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