FreightCar America (NASDAQ:RAIL) Now Covered by StockNews.com

Research analysts at StockNews.com began coverage on shares of FreightCar America (NASDAQ:RAIL – Get Rating) in a report released on Monday. The brokerage set a “sell” rating on the transportation company’s stock.

Several other research analysts have also issued reports on the company. TD Cowen reduced their price target on FreightCar America from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Monday, April 10th. Stephens reduced their target price on FreightCar America from $4.00 to $3.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 28th.

FreightCar America Price Performance

Shares of NASDAQ:RAIL opened at $2.87 on Monday. The business has a 50 day moving average price of $3.04 and a 200 day moving average price of $3.41. FreightCar America has a twelve month low of $2.63 and a twelve month high of $5.45. The company has a market cap of $50.80 million, a price-to-earnings ratio of -4.28 and a beta of 2.09.

FreightCar America (NASDAQ:RAIL – Get Rating) last released its quarterly earnings results on Wednesday, May 10th. The transportation company reported ($0.21) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The company had revenue of $81.00 million during the quarter. During the same quarter in the previous year, the business posted ($0.22) earnings per share. Analysts anticipate that FreightCar America will post -0.41 EPS for the current year.

Insider Activity at FreightCar America

In related news, Director Nigris Felan Jose De bought 10,000 shares of the stock in a transaction that occurred on Tuesday, May 16th. The shares were acquired at an average price of $3.00 per share, with a total value of $30,000.00. Following the completion of the transaction, the director now owns 48,739 shares in the company, valued at $146,217. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO James R. Meyer bought 12,427 shares of the stock in a transaction dated Monday, May 15th. The shares were bought at an average price of $2.95 per share, for a total transaction of $36,659.65. Following the completion of the purchase, the chief executive officer now owns 17,327 shares in the company, valued at $51,114.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Nigris Felan Jose De bought 10,000 shares of the stock in a transaction dated Tuesday, May 16th. The shares were purchased at an average price of $3.00 per share, for a total transaction of $30,000.00. Following the purchase, the director now owns 48,739 shares of the company’s stock, valued at approximately $146,217. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 37,678 shares of company stock valued at $109,057. 24.20% of the stock is owned by insiders.

Institutional Investors Weigh In On FreightCar America

A number of large investors have recently added to or reduced their stakes in RAIL. Allianz Asset Management GmbH boosted its holdings in shares of FreightCar America by 69.9% in the 1st quarter. Allianz Asset Management GmbH now owns 693,077 shares of the transportation company’s stock valued at $4,096,000 after purchasing an additional 285,119 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of FreightCar America in the 1st quarter valued at $386,000. Jane Street Group LLC boosted its holdings in shares of FreightCar America by 95.8% in the 1st quarter. Jane Street Group LLC now owns 41,093 shares of the transportation company’s stock valued at $243,000 after purchasing an additional 20,107 shares in the last quarter. Walleye Capital LLC acquired a new stake in shares of FreightCar America in the 1st quarter valued at $820,000. Finally, LPL Financial LLC acquired a new stake in shares of FreightCar America in the 2nd quarter valued at $39,000. Institutional investors and hedge funds own 87.26% of the company’s stock.

FreightCar America Company Profile

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FreightCar America, Inc engages in the manufacture of railcars and railcar components. It operates through the Manufacturing and Corporate and Other segments. The Manufacturing segment includes new railcar manufacturing, used railcar sales, railcar leasing and major railcar rebuilds. The Corporate and Other segment focuses on the sales of parts.