Freightcar America (NASDAQ:RAIL) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Freightcar America, Inc. (NASDAQ:RAIL) shares crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $9.48 and traded as high as $11.62. Freightcar America shares last traded at $11.32, with a volume of 83,809 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Weiss Ratings lowered Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Zacks Research raised shares of Freightcar America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen raised shares of Freightcar America from a “hold” rating to a “buy” rating in a research note on Sunday, December 28th. One 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $9.00.

Freightcar America Stock Down 1.3%

The company’s fifty day moving average price is $9.48 and its 200-day moving average price is $9.48. The stock has a market capitalization of $215.97 million, a PE ratio of 4.29 and a beta of 1.67.

Freightcar America (NASDAQ:RAIL) last posted its quarterly earnings results on Monday, November 10th. The transportation company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.08. The company had revenue of $160.51 million for the quarter, compared to the consensus estimate of $157.25 million. Freightcar America had a negative return on equity of 17.35% and a net margin of 17.40%. Equities research analysts anticipate that Freightcar America, Inc. will post 0.09 earnings per share for the current year.

Hedge Funds Weigh In On Freightcar America

A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in shares of Freightcar America by 208.6% during the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock valued at $29,000 after acquiring an additional 1,984 shares in the last quarter. Raymond James Financial Inc. boosted its stake in Freightcar America by 24.7% during the 2nd quarter. Raymond James Financial Inc. now owns 20,545 shares of the transportation company’s stock valued at $177,000 after purchasing an additional 4,067 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Freightcar America by 30.8% in the 2nd quarter. AlphaQuest LLC now owns 21,181 shares of the transportation company’s stock worth $183,000 after purchasing an additional 4,984 shares in the last quarter. Quarry LP purchased a new position in shares of Freightcar America in the third quarter worth $53,000. Finally, Ritholtz Wealth Management lifted its holdings in shares of Freightcar America by 54.6% during the second quarter. Ritholtz Wealth Management now owns 16,382 shares of the transportation company’s stock valued at $141,000 after purchasing an additional 5,789 shares in the last quarter. 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.