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

StockNews.com upgraded shares of FreightCar America (NASDAQ:RAIL) from a hold rating to a buy rating in a research note published on Wednesday morning.

FreightCar America Stock Performance

RAIL stock opened at $12.52 on Wednesday. The company’s 50 day moving average price is $10.79 and its 200 day moving average price is $9.92. FreightCar America has a fifty-two week low of $2.86 and a fifty-two week high of $16.10.

Institutional Investors Weigh In On FreightCar America

Hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership grew its stake in shares of FreightCar America by 125.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company’s stock worth $3,486,000 after purchasing an additional 216,307 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of FreightCar America during the 3rd quarter worth about $1,067,000. Consolidated Portfolio Review Corp purchased a new position in shares of FreightCar America in the 4th quarter valued at about $743,000. Walleye Capital LLC acquired a new stake in shares of FreightCar America during the 3rd quarter worth about $813,000. Finally, Centiva Capital LP purchased a new stake in FreightCar America during the third quarter worth approximately $453,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

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.