Freightcar America (NASDAQ:RAIL) Downgraded by Wall Street Zen to Hold

Freightcar America (NASDAQ:RAIL) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Freightcar America Stock Performance

Shares of Freightcar America stock opened at $9.10 on Friday. The firm has a 50-day simple moving average of $9.41 and a two-hundred day simple moving average of $7.91. The company has a market cap of $174.08 million, a P/E ratio of -13.00 and a beta of 1.95. Freightcar America has a fifty-two week low of $4.31 and a fifty-two week high of $16.10.

Insider Buying and Selling at Freightcar America

In related news, insider Celia Perez sold 7,982 shares of the company’s stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $8.59, for a total transaction of $68,565.38. Following the completion of the transaction, the insider owned 50,326 shares in the company, valued at $432,300.34. This represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 28.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. State of Wyoming acquired a new position in shares of Freightcar America during the 2nd quarter worth about $63,000. Mechanics Financial Corp acquired a new position in shares of Freightcar America during the 1st quarter worth about $55,000. Pacific Wealth Strategies Group Inc. acquired a new position in shares of Freightcar America during the 2nd quarter worth about $87,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Freightcar America during the 1st quarter worth about $61,000. Finally, Walleye Capital LLC acquired a new position in shares of Freightcar America during the 1st quarter worth about $74,000. Institutional investors and hedge funds own 31.96% of the company’s stock.

About Freightcar America

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.