FreightCar America (NASDAQ:RAIL) Upgraded by StockNews.com to “Strong-Buy” Rating

StockNews.com upgraded shares of FreightCar America (NASDAQ:RAIL) from a buy rating to a strong-buy rating in a research note released on Tuesday.

FreightCar America Trading Down 1.5 %

FreightCar America stock opened at $6.46 on Tuesday. The stock has a fifty day simple moving average of $10.15 and a two-hundred day simple moving average of $10.52. The firm has a market cap of $123.13 million, a price-to-earnings ratio of -1.52 and a beta of 2.08. FreightCar America has a 12 month low of $3.02 and a 12 month high of $16.10.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Quantbot Technologies LP bought a new stake in FreightCar America during the third quarter valued at about $49,000. Walleye Capital LLC bought a new stake in shares of FreightCar America in the 3rd quarter valued at approximately $813,000. Centiva Capital LP purchased a new position in shares of FreightCar America in the 3rd quarter worth approximately $453,000. State Street Corp boosted its holdings in shares of FreightCar America by 21.6% in the 3rd quarter. State Street Corp now owns 53,958 shares of the transportation company’s stock worth $582,000 after purchasing an additional 9,600 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of FreightCar America during the 3rd quarter valued at approximately $247,000. 31.96% of the stock is currently owned by 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.