Freightcar America (NASDAQ:RAIL) Rating Lowered to “Hold” at Wall Street Zen

Freightcar America (NASDAQ:RAIL) was downgraded by research analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

A number of other research analysts have also recently commented on RAIL. Zacks Research raised shares of Freightcar America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Weiss Ratings cut shares of Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Freightcar America Price Performance

Shares of RAIL opened at $8.48 on Friday. The firm has a 50 day simple moving average of $9.14 and a two-hundred day simple moving average of $8.79. Freightcar America has a one year low of $4.31 and a one year high of $16.10. The company has a market cap of $162.20 million, a P/E ratio of -12.11 and a beta of 2.08.

Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings results on Wednesday, January 17th. The transportation company reported ($0.21) earnings per share (EPS) for the quarter. The business had revenue of $85.74 million during the quarter. Freightcar America had a negative net margin of 2.21% and a negative return on equity of 14.89%. On average, analysts expect that Freightcar America will post 0.09 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Freightcar America

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. raised its stake in Freightcar America by 58.8% during the first quarter. Goldman Sachs Group Inc. now owns 106,656 shares of the transportation company’s stock worth $590,000 after buying an additional 39,506 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Freightcar America by 435.5% during the 1st quarter. Russell Investments Group Ltd. now owns 141,337 shares of the transportation company’s stock worth $782,000 after acquiring an additional 114,945 shares during the period. North Star Investment Management Corp. bought a new position in shares of Freightcar America in the 2nd quarter worth about $1,498,000. Walleye Capital LLC acquired a new position in shares of Freightcar America in the 1st quarter valued at about $74,000. Finally, Victory Capital Management Inc. acquired a new position in shares of Freightcar America in the 1st quarter valued at about $88,000. 31.96% of the stock is owned by institutional investors and hedge funds.

Freightcar America Company Profile

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.