Zacks Investment Research cut shares of Freightcar America, Inc. (NASDAQ:RAIL) from a hold rating to a sell rating in a research report report published on Friday morning.
According to Zacks, “FreightCar America, Inc. manufactures railroad freight cars, with particular expertise in coal-carrying railcars. In addition to coal cars, FreightCar America designs and builds flat cars, mill gondola cars, intermodal cars, coil steel cars and motor vehicle carriers. It is headquartered in Chicago, Illinois and has manufacturing facilities in Danville, Illinois, Roanoke, Virginia and Johnstown, Pennsylvania. “
Separately, Stifel Nicolaus reaffirmed a hold rating and set a $14.00 price target (down previously from $15.00) on shares of Freightcar America in a research note on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. Freightcar America has an average rating of Hold and a consensus price target of $16.25.
Freightcar America (RAIL) opened at $15.61 on Friday. Freightcar America has a 1-year low of $12.07 and a 1-year high of $20.46.
Freightcar America (NASDAQ:RAIL) last released its quarterly earnings results on Wednesday, November 1st. The transportation company reported ($0.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.63). Freightcar America had a negative return on equity of 2.56% and a negative net margin of 2.44%. The firm had revenue of $72.00 million for the quarter, compared to analysts’ expectations of $87.20 million. The firm’s revenue for the quarter was down 36.6% on a year-over-year basis. research analysts expect that Freightcar America will post -0.98 earnings per share for the current year.
In related news, insider James R. Meyer bought 10,000 shares of the company’s stock in a transaction dated Wednesday, November 8th. The stock was bought at an average price of $14.34 per share, with a total value of $143,400.00. Following the transaction, the insider now owns 2,619 shares of the company’s stock, valued at $37,556.46. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director S Carl Soderstrom, Jr. sold 2,000 shares of the business’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $15.01, for a total transaction of $30,020.00. Following the completion of the sale, the director now directly owns 18,204 shares of the company’s stock, valued at approximately $273,242.04. The disclosure for this sale can be found here. Insiders have sold a total of 9,000 shares of company stock worth $139,815 in the last ninety days. 4.13% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Capital Management Holdings LLC. increased its position in shares of Freightcar America by 39.4% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 91,200 shares of the transportation company’s stock worth $1,783,000 after purchasing an additional 25,800 shares during the last quarter. KBC Group NV bought a new stake in shares of Freightcar America in the 3rd quarter worth about $178,000. Macquarie Group Ltd. bought a new stake in shares of Freightcar America in the 3rd quarter worth about $824,000. Russell Investments Group Ltd. increased its position in shares of Freightcar America by 23.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 397,287 shares of the transportation company’s stock worth $7,770,000 after purchasing an additional 74,251 shares during the last quarter. Finally, Boston Partners increased its position in shares of Freightcar America by 14.6% in the 3rd quarter. Boston Partners now owns 1,082,820 shares of the transportation company’s stock worth $21,180,000 after purchasing an additional 138,021 shares during the last quarter. 83.63% of the stock is owned by institutional investors.
Freightcar America Company Profile
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
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