Freightcar America (NASDAQ:RAIL) Stock Rating Lowered by Zacks Research

Freightcar America (NASDAQ:RAIL) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reiterated a “hold (c)” rating on shares of Freightcar America in a research report on Friday, June 5th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

Freightcar America Stock Up 0.8%

NASDAQ:RAIL opened at $7.96 on Tuesday. The firm has a market capitalization of $152.35 million, a PE ratio of 10.76 and a beta of 1.44. Freightcar America has a 12-month low of $7.27 and a 12-month high of $14.90. The firm has a 50-day moving average price of $8.33 and a 200 day moving average price of $9.83.

Freightcar America (NASDAQ:RAIL) last released its quarterly earnings data on Monday, May 4th. The transportation company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.06). Freightcar America had a net margin of 6.25% and a negative return on equity of 15.56%. The company had revenue of $64.31 million for the quarter, compared to analyst estimates of $74.60 million. On average, research analysts expect that Freightcar America will post 0.4 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Hillsdale Investment Management Inc. increased its holdings in Freightcar America by 708.2% during the 4th quarter. Hillsdale Investment Management Inc. now owns 290,954 shares of the transportation company’s stock valued at $3,221,000 after purchasing an additional 254,954 shares in the last quarter. North Star Investment Management Corp. raised its position in Freightcar America by 36.8% in the 1st quarter. North Star Investment Management Corp. now owns 237,800 shares of the transportation company’s stock valued at $1,895,000 after purchasing an additional 64,000 shares during the last quarter. Penn Capital Management Company LLC acquired a new position in Freightcar America in the fourth quarter worth $734,000. Globeflex Capital L P grew its holdings in shares of Freightcar America by 840.3% during the first quarter. Globeflex Capital L P now owns 72,484 shares of the transportation company’s stock worth $578,000 after purchasing an additional 64,775 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Freightcar America by 16.6% during the first quarter. Dimensional Fund Advisors LP now owns 139,826 shares of the transportation company’s stock worth $1,114,000 after purchasing an additional 19,898 shares during the last quarter. 31.96% of the stock is owned by institutional investors and hedge funds.

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.