StockNews.com lowered shares of FreightCar America (NASDAQ:RAIL - Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday.
FreightCar America Trading Down 5.4 %
Shares of FreightCar America stock traded down $0.32 during mid-day trading on Wednesday, reaching $5.64. 209,464 shares of the stock were exchanged, compared to its average volume of 238,744. The company has a market cap of $107.50 million, a price-to-earnings ratio of -1.33 and a beta of 2.08. FreightCar America has a fifty-two week low of $3.02 and a fifty-two week high of $16.10. The firm has a 50-day simple moving average of $9.42 and a 200 day simple moving average of $10.41.
FreightCar America (NASDAQ:RAIL - Get Free Report) last released its quarterly earnings results on Wednesday, March 12th. The transportation company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.16. FreightCar America had a negative return on equity of 27.10% and a negative net margin of 20.66%. The business had revenue of $137.70 million for the quarter, compared to analyst estimates of $152.02 million. On average, research analysts predict that FreightCar America will post 0.09 EPS for the current fiscal year.
Hedge Funds Weigh In On FreightCar America
A number of large investors have recently modified their holdings of RAIL. Arrowstreet Capital Limited Partnership lifted its holdings in FreightCar America by 125.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company's stock worth $3,486,000 after buying an additional 216,307 shares in the last quarter. Ancora Advisors LLC acquired a new position in shares of FreightCar America during the fourth quarter valued at $2,711,000. Renaissance Technologies LLC boosted its holdings in FreightCar America by 128.5% in the fourth quarter. Renaissance Technologies LLC now owns 282,200 shares of the transportation company's stock valued at $2,529,000 after acquiring an additional 158,700 shares during the last quarter. Marshall Wace LLP acquired a new stake in FreightCar America in the fourth quarter worth about $2,399,000. Finally, Allspring Global Investments Holdings LLC lifted its position in FreightCar America by 90.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company's stock valued at $1,688,000 after purchasing an additional 89,471 shares during the period. 31.96% of the stock is currently owned by institutional investors and hedge funds.
About FreightCar America
(
Get Free Report)
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.
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