FreightCar America (NASDAQ:RAIL) Lifted to Hold at StockNews.com

StockNews.com upgraded shares of FreightCar America (NASDAQ:RAIL – Get Rating) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Shares of RAIL opened at $3.61 on Tuesday. FreightCar America has a 52 week low of $3.06 and a 52 week high of $7.69. The company has a market capitalization of $59.69 million, a price-to-earnings ratio of -3.14 and a beta of 2.23. The stock’s 50-day moving average price is $4.66 and its 200-day moving average price is $4.39.

FreightCar America (NASDAQ:RAIL – Get Rating) last issued its earnings results on Tuesday, May 10th. The transportation company reported ($0.22) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.14). The company had revenue of $93.24 million during the quarter. FreightCar America had a negative return on equity of 3,048.14% and a negative net margin of 10.05%. During the same quarter last year, the firm earned ($0.48) EPS. Equities research analysts expect 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 FreightCar America stock in a transaction that occurred on Wednesday, May 11th. The stock was bought at an average price of $3.64 per share, with a total value of $91,000.00. Following the acquisition, the chief executive officer now owns 433,101 shares of the company’s stock, valued at approximately $1,576,487.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Benavides Alejandro Gil bought 47,090 shares of FreightCar America stock in a transaction on Wednesday, May 11th. The shares were purchased at an average cost of $3.70 per share, with a total value of $174,233.00. Following the acquisition, 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. Insiders purchased a total of 84,490 shares of company stock valued at $309,456 in the last ninety days. 15.18% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. McClarren Financial Advisors Inc. purchased a new stake in shares of FreightCar America in the first quarter valued at approximately $73,000. Belvedere Trading LLC purchased a new position in FreightCar America in the first quarter worth approximately $141,000. Jane Street Group LLC grew its position in FreightCar America by 95.8% in the first quarter. Jane Street Group LLC now owns 41,093 shares of the transportation company’s stock worth $243,000 after acquiring an additional 20,107 shares during the period. Franklin Resources Inc. purchased a new position in FreightCar America in the third quarter worth approximately $272,000. Finally, GSA Capital Partners LLP boosted its position in shares of FreightCar America by 701.3% during the fourth quarter. GSA Capital Partners LLP now owns 87,249 shares of the transportation company’s stock worth $322,000 after buying an additional 76,361 shares during the period. Institutional investors and hedge funds own 86.59% of the company’s stock.

FreightCar America Company Profile (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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