FreightCar America (NASDAQ:RAIL - Get Free Report) was upgraded by equities research analysts at StockNews.com from a "buy" rating to a "strong-buy" rating in a research report issued on Tuesday.
FreightCar America Trading Down 3.0 %
Shares of NASDAQ:RAIL traded down $0.19 during trading on Tuesday, reaching $6.24. 186,847 shares of the company traded hands, compared to its average volume of 233,313. The business's fifty day moving average is $9.93 and its 200-day moving average is $10.47. FreightCar America has a 52-week low of $3.02 and a 52-week high of $16.10. The firm has a market capitalization of $118.93 million, a price-to-earnings ratio of -1.47 and a beta of 2.08.
FreightCar America (NASDAQ:RAIL - Get Free Report) last announced 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. The company had revenue of $137.70 million during the quarter, compared to analyst estimates of $152.02 million. FreightCar America had a negative return on equity of 27.10% and a negative net margin of 20.66%. On average, sell-side analysts predict that FreightCar America will post 0.09 earnings per share for the current fiscal year.
Hedge Funds Weigh In On FreightCar America
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ancora Advisors LLC purchased a new stake in shares of FreightCar America in the fourth quarter worth $2,711,000. Marshall Wace LLP bought a new position in FreightCar America in the 4th quarter worth $2,399,000. Arrowstreet Capital Limited Partnership lifted its position in shares of FreightCar America by 125.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company's stock valued at $3,486,000 after buying an additional 216,307 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of FreightCar America by 128.5% in the fourth quarter. Renaissance Technologies LLC now owns 282,200 shares of the transportation company's stock worth $2,529,000 after purchasing an additional 158,700 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in FreightCar America by 90.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company's stock worth $1,688,000 after buying an additional 89,471 shares during the period. Hedge funds and other institutional investors own 31.96% of the company's stock.
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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