FreightCar America (RAIL) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of FreightCar America (NASDAQ:RAIL) from a hold rating to a sell rating in a report issued on Wednesday.

According to Zacks, “FreightCar America, Inc. manufactures railroad freight cars, with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds flat cars, mill gondola cars, intermodal cars, coil steel cars and motor vehicle carriers. It is headquartered in Chicago, Illinois and has manufacturing facilities in Danville, Illinois, Roanoke, Virginia and Johnstown, Pennsylvania. “

Several other research analysts have also issued reports on the company. ValuEngine lowered FreightCar America from a buy rating to a hold rating in a research report on Tuesday, September 4th. Stephens restated a hold rating and issued a $19.00 price target on shares of FreightCar America in a research report on Thursday, August 2nd. CL King lowered FreightCar America from a buy rating to a neutral rating in a research report on Thursday, November 1st. Stifel Nicolaus set a $19.00 price target on FreightCar America and gave the stock a hold rating in a research report on Friday, August 3rd. Finally, Buckingham Research raised their price target on FreightCar America from $16.00 to $19.00 and gave the stock a neutral rating in a research report on Monday, August 13th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $18.00.

Shares of NASDAQ:RAIL traded up $0.52 during midday trading on Wednesday, hitting $10.46. The company had a trading volume of 98,561 shares, compared to its average volume of 73,206. FreightCar America has a 12 month low of $9.40 and a 12 month high of $20.14. The firm has a market capitalization of $118.64 million, a P/E ratio of -9.02 and a beta of 1.50.

FreightCar America (NASDAQ:RAIL) last posted its quarterly earnings results on Wednesday, October 31st. The transportation company reported ($0.50) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.24). FreightCar America had a negative return on equity of 9.80% and a negative net margin of 8.46%. The company had revenue of $78.97 million during the quarter, compared to the consensus estimate of $66.00 million. On average, sell-side analysts predict that FreightCar America will post -1.25 earnings per share for the current year.

A number of hedge funds have recently bought and sold shares of RAIL. Royce & Associates LP lifted its holdings in FreightCar America by 15.0% during the second quarter. Royce & Associates LP now owns 1,460,910 shares of the transportation company’s stock worth $24,529,000 after acquiring an additional 190,689 shares in the last quarter. Russell Investments Group Ltd. lifted its holdings in FreightCar America by 4.6% during the second quarter. Russell Investments Group Ltd. now owns 1,485,733 shares of the transportation company’s stock worth $24,937,000 after acquiring an additional 65,922 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in FreightCar America by 109.5% during the first quarter. JPMorgan Chase & Co. now owns 109,421 shares of the transportation company’s stock worth $1,466,000 after acquiring an additional 57,198 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in FreightCar America by 4.1% during the second quarter. Wells Fargo & Company MN now owns 760,776 shares of the transportation company’s stock worth $12,783,000 after acquiring an additional 30,042 shares in the last quarter. Finally, Chicago Equity Partners LLC bought a new position in FreightCar America during the third quarter worth about $476,000. Hedge funds and other institutional investors 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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