FreightCar America (NASDAQ:RAIL) Stock Rating Upgraded by StockNews.com

FreightCar America (NASDAQ:RAIL) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

FreightCar America Stock Down 2.7 %

Shares of RAIL stock opened at $12.70 on Wednesday. FreightCar America has a 52 week low of $2.86 and a 52 week high of $16.10. The firm has a 50 day moving average of $10.74 and a 200-day moving average of $9.90. The company has a market cap of $239.90 million, a price-to-earnings ratio of -3.00 and a beta of 1.96.

Insider Buying and Selling

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

Hedge Funds Weigh In On FreightCar America

Large investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in FreightCar America during the 3rd quarter valued at $49,000. JPMorgan Chase & Co. lifted its stake in FreightCar America by 98.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock valued at $50,000 after acquiring an additional 2,281 shares in the last quarter. Barclays PLC bought a new position in FreightCar America during the 3rd quarter valued at $73,000. Globeflex Capital L P bought a new position in FreightCar America during the 4th quarter valued at $69,000. Finally, Ritholtz Wealth Management bought a new position in FreightCar America during the 4th quarter valued at $104,000. 31.96% of the stock is currently owned by institutional investors.

FreightCar America Company Profile

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.