Freightcar America (NASDAQ:RAIL) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Freightcar America, Inc. (NASDAQ:RAIL)’s share price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $9.59 and traded as high as $11.38. Freightcar America shares last traded at $10.98, with a volume of 87,094 shares trading hands.

Wall Street Analyst Weigh In

RAIL has been the subject of several recent analyst reports. Zacks Research upgraded Freightcar America from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Wall Street Zen raised shares of Freightcar America from a “hold” rating to a “buy” rating in a report on Sunday, December 28th. Finally, 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 analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Freightcar America has a consensus rating of “Moderate Buy” and an average target price of $9.00.

Freightcar America Stock Down 2.7%

The company has a market cap of $209.50 million, a P/E ratio of 4.16 and a beta of 1.67. The firm has a fifty day moving average price of $9.85 and a 200 day moving average price of $9.59.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. BNP Paribas Financial Markets lifted its holdings in Freightcar America by 208.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock worth $29,000 after buying an additional 1,984 shares in the last quarter. Raymond James Financial Inc. raised its position in shares of Freightcar America by 24.7% during the second quarter. Raymond James Financial Inc. now owns 20,545 shares of the transportation company’s stock worth $177,000 after acquiring an additional 4,067 shares during the last quarter. AlphaQuest LLC lifted its stake in shares of Freightcar America by 30.8% during the second quarter. AlphaQuest LLC now owns 21,181 shares of the transportation company’s stock valued at $183,000 after acquiring an additional 4,984 shares during the period. Quarry LP bought a new position in Freightcar America in the third quarter valued at about $53,000. Finally, Ritholtz Wealth Management boosted its holdings in Freightcar America by 54.6% in the second quarter. Ritholtz Wealth Management now owns 16,382 shares of the transportation company’s stock valued at $141,000 after acquiring an additional 5,789 shares during 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.