FreightCar America, Inc. (NASDAQ:RAIL) has been assigned a consensus rating of “Hold” from the nine analysts that are presently covering the firm, MarketBeat reports. One analyst has rated the stock with a sell recommendation and seven have issued a hold recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $17.75.
Several equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of FreightCar America from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. Zacks Investment Research cut shares of FreightCar America from a “hold” rating to a “sell” rating in a research note on Wednesday. Buckingham Research increased their target price on shares of FreightCar America from $16.00 to $19.00 and gave the company a “neutral” rating in a research note on Monday, August 13th. Stifel Nicolaus set a $19.00 target price on shares of FreightCar America and gave the company a “hold” rating in a research note on Friday, August 3rd. Finally, CL King cut shares of FreightCar America from a “buy” rating to a “neutral” rating in a research note on Thursday, November 1st.
Shares of NASDAQ:RAIL traded up $0.42 during midday trading on Wednesday, hitting $9.94. The company’s stock had a trading volume of 125,700 shares, compared to its average volume of 73,085. The company has a market cap of $126.86 million, a P/E ratio of -8.57 and a beta of 1.50. FreightCar America has a fifty-two week low of $9.40 and a fifty-two week high of $20.14.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in shares of FreightCar America in the second quarter valued at about $115,000. BlackRock Inc. lifted its stake in shares of FreightCar America by 1.6% in the second quarter. BlackRock Inc. now owns 841,249 shares of the transportation company’s stock valued at $14,125,000 after buying an additional 13,008 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of FreightCar America in the second quarter valued at about $224,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of FreightCar America in the second quarter valued at about $314,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of FreightCar America by 1.4% in the third quarter. Russell Investments Group Ltd. now owns 1,506,124 shares of the transportation company’s stock valued at $24,203,000 after buying an additional 20,391 shares during the period. Institutional investors and hedge funds own 84.88% of the company’s stock.
About FreightCar America
FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.
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