FreightCar America (NASDAQ:RAIL) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of FreightCar America (NASDAQ:RAIL) in a research report released on Tuesday. The firm issued a hold rating on the transportation company’s stock.

Separately, Noble Financial raised shares of FreightCar America to a strong-buy rating in a research note on Friday, June 28th.

FreightCar America Stock Down 9.8 %

Shares of NASDAQ:RAIL opened at $7.08 on Tuesday. The firm has a market capitalization of $132.47 million, a PE ratio of -4.60 and a beta of 1.97. The company has a 50-day moving average price of $4.05 and a two-hundred day moving average price of $3.72. FreightCar America has a twelve month low of $2.25 and a twelve month high of $8.84.

FreightCar America (NASDAQ:RAIL) last released its quarterly earnings data on Monday, August 12th. The transportation company reported $0.05 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.05. FreightCar America had a negative net margin of 0.62% and a negative return on equity of 28.11%. The business had revenue of $147.42 million during the quarter, compared to analyst estimates of $127.09 million. During the same period in the previous year, the business earned $0.02 EPS. Analysts anticipate that FreightCar America will post 0.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FreightCar America

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of FreightCar America by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock valued at $2,250,000 after acquiring an additional 26,412 shares during the last quarter. Renaissance Technologies LLC raised its stake in FreightCar America by 43.4% in the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock valued at $408,000 after purchasing an additional 35,387 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew 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 buying an additional 5,880 shares in the last quarter. Institutional investors own 31.96% of the company’s stock.

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.