Freightcar America (NASDAQ:RAIL) Upgraded to “Buy” at Wall Street Zen

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

Other equities research analysts also recently issued research reports about the company. Zacks Research raised Freightcar America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Weiss Ratings lowered Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Freightcar America presently has an average rating of “Moderate Buy” and an average price target of $9.00.

Freightcar America Stock Down 0.2%

Shares of Freightcar America stock opened at $11.50 on Friday. The company has a market capitalization of $219.42 million, a price-to-earnings ratio of 4.36 and a beta of 1.66. Freightcar America has a 12-month low of $4.31 and a 12-month high of $13.64. The firm’s 50-day moving average price is $8.96 and its two-hundred day moving average price is $9.25.

Freightcar America (NASDAQ:RAIL) last released its earnings results on Monday, November 10th. The transportation company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.16 by $0.08. Freightcar America had a net margin of 17.40% and a negative return on equity of 17.35%. The firm had revenue of $160.51 million for the quarter, compared to analyst estimates of $157.25 million. On average, sell-side analysts expect that Freightcar America will post 0.09 earnings per share for the current year.

Institutional Trading of Freightcar America

Several institutional investors have recently modified their holdings of RAIL. Essex Investment Management Co. LLC bought a new position in Freightcar America during the 3rd quarter worth $2,007,000. North Star Investment Management Corp. acquired a new stake in shares of Freightcar America in the second quarter valued at about $1,498,000. JPMorgan Chase & Co. acquired a new stake in shares of Freightcar America in the second quarter valued at about $813,000. Legato Capital Management LLC bought a new position in shares of Freightcar America during the third quarter worth about $582,000. Finally, Diamond Hill Capital Management Inc. acquired a new position in shares of Freightcar America in the third quarter worth approximately $501,000. Institutional investors own 31.96% of the company’s stock.

About Freightcar America

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.