FreightCar America (NASDAQ:RAIL) Upgraded at StockNews.com

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

FreightCar America Stock Down 3.0 %

RAIL stock traded down $0.31 during mid-day trading on Wednesday, reaching $9.86. The company had a trading volume of 1,313,463 shares, compared to its average volume of 174,372. FreightCar America has a one year low of $2.25 and a one year high of $16.10. The stock has a market capitalization of $186.06 million, a P/E ratio of -2.33 and a beta of 2.00. The stock’s 50-day simple moving average is $11.72 and its two-hundred day simple moving average is $6.71.

FreightCar America (NASDAQ:RAIL) last issued its quarterly earnings results on Monday, August 12th. The transportation company reported $0.05 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.05. FreightCar America had a negative return on equity of 41.24% and a negative net margin of 20.66%. The firm had revenue of $147.42 million for the quarter, compared to analysts’ expectations of $127.09 million. During the same quarter last year, the business posted $0.02 EPS. On average, research analysts forecast that FreightCar America will post 0.19 EPS for the current fiscal year.

Insider Activity at FreightCar America

In other FreightCar America news, Director Nigris Felan Jose De purchased 4,000 shares of the stock in a transaction on Friday, September 27th. The shares were purchased at an average price of $10.19 per share, with a total value of $40,760.00. Following the acquisition, the director now directly owns 73,147 shares of the company’s stock, valued at $745,367.93. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Nigris Felan Jose De purchased 4,000 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was purchased at an average cost of $10.19 per share, with a total value of $40,760.00. Following the acquisition, the director now directly owns 73,147 shares of the company’s stock, valued at approximately $745,367.93. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William D. Gehl sold 10,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $10.83, for a total value of $108,300.00. Following the sale, the director now directly owns 147,608 shares of the company’s stock, valued at $1,598,594.64. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 28.00% of the stock is owned by corporate insiders.

Institutional Trading of FreightCar America

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC bought a new position in shares of FreightCar America during the 3rd quarter valued at about $1,067,000. Renaissance Technologies LLC boosted its holdings in shares of 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 buying an additional 35,387 shares during the period. Vanguard Group Inc. raised its holdings in shares of FreightCar America by 4.7% during the first quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock worth $2,250,000 after acquiring an additional 26,412 shares during the period. 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 during the period. Finally, Quantbot Technologies LP acquired a new position in shares of FreightCar America during the third quarter worth about $49,000. 31.96% of the stock is 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.