Freightcar America (NASDAQ:RAIL) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Freightcar America (NASDAQ:RAIL) from a hold rating to a buy rating in a research report report published on Sunday morning.

Several other brokerages have also issued reports on RAIL. Zacks Research upgraded Freightcar America from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, October 7th. Weiss Ratings downgraded shares of Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. One equities research 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.00.

Freightcar America Stock Down 0.2%

NASDAQ RAIL opened at $11.50 on Friday. Freightcar America has a 52 week low of $4.31 and a 52 week high of $13.64. The firm has a market capitalization of $219.42 million, a price-to-earnings ratio of 4.36 and a beta of 1.66. The company has a fifty day moving average of $8.96 and a two-hundred day moving average of $9.25.

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

Institutional Investors Weigh In On Freightcar America

A number of institutional investors have recently added to or reduced their stakes in RAIL. BNP Paribas Financial Markets raised its holdings in Freightcar America by 208.6% in the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock worth $29,000 after purchasing an additional 1,984 shares in the last quarter. Quarry LP purchased a new position in shares of Freightcar America in the 3rd quarter worth approximately $53,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Freightcar America during the 1st quarter worth approximately $61,000. State of Wyoming bought a new position in shares of Freightcar America during the 2nd quarter worth approximately $63,000. Finally, Walleye Capital LLC purchased a new stake in Freightcar America during the first quarter valued at approximately $74,000. 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.