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

FreightCar America (NASDAQ:RAIL) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Separately, Northcoast Research started coverage on FreightCar America in a research note on Thursday, May 1st. They issued a “buy” rating and a $9.00 price objective on the stock.

FreightCar America Stock Performance

RAIL opened at $6.43 on Wednesday. The stock has a market capitalization of $122.60 million, a price-to-earnings ratio of -1.52 and a beta of 1.73. The company has a fifty day moving average of $5.97 and a 200 day moving average of $9.22. FreightCar America has a fifty-two week low of $3.02 and a fifty-two week high of $16.10.

FreightCar America (NASDAQ:RAIL) last released its quarterly earnings data on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.05 by $0.16. FreightCar America had a negative net margin of 20.66% and a negative return on equity of 27.10%. The business had revenue of $137.70 million during the quarter, compared to the consensus estimate of $152.02 million. On average, equities research analysts forecast that FreightCar America will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On FreightCar America

A number of institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. lifted its holdings in shares of FreightCar America by 98.4% in 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 during the last quarter. Quantbot Technologies LP raised its position in FreightCar America by 80.8% during the fourth quarter. Quantbot Technologies LP now owns 8,128 shares of the transportation company’s stock valued at $73,000 after purchasing an additional 3,632 shares during the period. Barclays PLC bought a new stake in shares of FreightCar America in the 3rd quarter valued at approximately $73,000. Globeflex Capital L P purchased a new position in shares of FreightCar America in the 4th quarter worth approximately $69,000. Finally, Mechanics Financial Corp bought a new position in shares of FreightCar America during the 1st quarter valued at approximately $55,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

About FreightCar America

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.