Zacks Investment Research lowered shares of Freightcar America, Inc. (NASDAQ:RAIL) from a strong-buy rating to a hold rating in a research report released on Wednesday morning.
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. “
A number of other research firms have also issued reports on RAIL. Buckingham Research started coverage on Freightcar America in a research note on Wednesday, June 21st. They issued a neutral rating and a $17.00 target price for the company. ValuEngine upgraded Freightcar America from a sell rating to a hold rating in a research note on Friday, June 2nd. Five analysts have rated the stock with a hold rating, Freightcar America has an average rating of Hold and a consensus target price of $15.50.
Shares of Freightcar America (NASDAQ:RAIL) traded down 0.17% during trading on Wednesday, hitting $17.17. The stock had a trading volume of 11,633 shares. The company has a market cap of $213.25 million, a P/E ratio of 817.62 and a beta of 1.60. Freightcar America has a one year low of $10.87 and a one year high of $18.19. The stock’s 50-day moving average price is $17.11 and its 200-day moving average price is $14.82.
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In other news, insider Theodore W. Baun sold 4,481 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $17.25, for a total value of $77,297.25. Following the completion of the sale, the insider now owns 14,502 shares in the company, valued at $250,159.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.13% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Nine Chapters Capital Management LLC acquired a new stake in shares of Freightcar America during the first quarter worth $585,000. TFS Capital LLC acquired a new stake in shares of Freightcar America during the first quarter worth $418,000. Ameriprise Financial Inc. acquired a new stake in shares of Freightcar America during the first quarter worth $155,000. Bank of New York Mellon Corp raised its stake in shares of Freightcar America by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 216,085 shares of the transportation company’s stock worth $2,707,000 after buying an additional 14,262 shares during the period. Finally, Eqis Capital Management Inc. raised its stake in shares of Freightcar America by 0.8% in the first quarter. Eqis Capital Management Inc. now owns 13,444 shares of the transportation company’s stock worth $168,000 after buying an additional 104 shares during the period. Hedge funds and other institutional investors own 77.72% of the company’s stock.
Freightcar America Company Profile
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
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