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FreightCar America (NASDAQ:RAIL) Stock Rating Lowered by StockNews.com

FreightCar America logo with Transportation background

FreightCar America (NASDAQ:RAIL - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Tuesday.

FreightCar America Stock Down 5.8 %

FreightCar America stock traded down $0.77 during mid-day trading on Tuesday, reaching $12.56. The company had a trading volume of 167,941 shares, compared to its average volume of 168,354. The company has a 50 day moving average of $10.63 and a 200-day moving average of $9.68. FreightCar America has a 52 week low of $2.70 and a 52 week high of $16.10. The firm has a market cap of $237.26 million, a price-to-earnings ratio of -2.96 and a beta of 1.96.

Insiders Place Their Bets

In related news, Director James R. Meyer bought 23,400 shares of the business's stock in a transaction that occurred on Thursday, November 14th. The stock was acquired at an average price of $10.74 per share, for a total transaction of $251,316.00. Following the transaction, the director now directly owns 838,278 shares of the company's stock, valued at $9,003,105.72. This represents a 2.87 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 28.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RAIL. Allspring Global Investments Holdings LLC acquired a new stake in shares of FreightCar America in the 3rd quarter valued at $1,067,000. Barclays PLC acquired a new position in FreightCar America in the third quarter valued at about $73,000. JPMorgan Chase & Co. grew its stake in FreightCar America by 98.4% during the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company's stock worth $50,000 after buying an additional 2,281 shares during the last quarter. Walleye Capital LLC acquired a new stake in shares of FreightCar America during the third quarter worth approximately $813,000. Finally, State Street Corp raised its stake in shares of FreightCar America by 21.6% in the third quarter. State Street Corp now owns 53,958 shares of the transportation company's stock valued at $582,000 after acquiring an additional 9,600 shares during the last quarter. 31.96% of the stock is currently owned by institutional investors and hedge funds.

FreightCar America Company Profile

(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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