FreightCar America (NASDAQ:RAIL) Upgraded to “Hold” at StockNews.com

FreightCar America (NASDAQ:RAILGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Wednesday.

Separately, Zacks Investment Research lowered FreightCar America from a “hold” rating to a “sell” rating in a report on Thursday, June 2nd.

NASDAQ RAIL traded down $0.15 on Wednesday, hitting $4.89. 82,305 shares of the stock were exchanged, compared to its average volume of 202,118. The company has a market cap of $80.86 million, a PE ratio of -4.25 and a beta of 2.23. The company has a 50-day moving average price of $5.08 and a 200-day moving average price of $4.37. FreightCar America has a fifty-two week low of $3.06 and a fifty-two week high of $7.69.

FreightCar America (NASDAQ:RAILGet Rating) last posted its earnings results on Tuesday, May 10th. The transportation company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.14). FreightCar America had a negative net margin of 10.05% and a negative return on equity of 3,048.14%. The business had revenue of $93.24 million for the quarter. During the same period in the prior year, the business earned ($0.48) EPS. Analysts forecast that FreightCar America will post -0.27 EPS for the current fiscal year.

In other FreightCar America news, CEO James R. Meyer purchased 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The stock was bought at an average cost of $3.64 per share, with a total value of $91,000.00. Following the completion of the transaction, the chief executive officer now owns 433,101 shares of the company’s stock, valued at approximately $1,576,487.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Benavides Alejandro Gil purchased 47,090 shares of the stock in a transaction on Wednesday, May 11th. The shares were purchased at an average price of $3.70 per share, for a total transaction of $174,233.00. Following the transaction, the insider now directly owns 127,000 shares of the company’s stock, valued at $469,900. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 81,940 shares of company stock valued at $299,511. Corporate insiders own 15.52% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of FreightCar America in the 3rd quarter valued at approximately $48,000. GSA Capital Partners LLP acquired a new stake in shares of FreightCar America during the 3rd quarter worth $49,000. Wells Fargo & Company MN increased its holdings in shares of FreightCar America by 293.7% during the 2nd quarter. Wells Fargo & Company MN now owns 8,779 shares of the transportation company’s stock worth $52,000 after buying an additional 6,549 shares during the last quarter. Morgan Stanley increased its holdings in FreightCar America by 246.1% in the 1st quarter. Morgan Stanley now owns 8,974 shares of the transportation company’s stock valued at $59,000 after purchasing an additional 6,381 shares in the last quarter. Finally, McClarren Financial Advisors Inc. acquired a new stake in FreightCar America in the 1st quarter valued at $73,000. 86.59% of the stock is owned by institutional investors and hedge funds.

About FreightCar America (Get Rating)

FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars and railcar components for the transportation of bulk commodities and containerized freight products primarily in North America. It operates in two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers; covered hopper cars; gondolas; triple hoppers and hybrid aluminum/stainless steel railcars; ore hopper and gondola railcars; ballast hopper cars; aggregate hopper cars; intermodal flats; and non-intermodal flat cars.

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