Freightcar America (NASDAQ:RAIL) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Freightcar America (NASDAQ:RAIL) from a strong sell rating to a hold rating in a research note issued to investors on Wednesday morning,Zacks.com reports.

Separately, Weiss Ratings downgraded Freightcar America from a “hold (c)” rating to a “sell (d)” rating in a report on Tuesday, August 4th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Freightcar America Stock Performance

NASDAQ:RAIL opened at $7.41 on Wednesday. The stock has a market cap of $242.97 million, a P/E ratio of -13.72 and a beta of 1.48. The company has a current ratio of 1.81, a quick ratio of 1.12 and a debt-to-equity ratio of 2.70. The stock’s 50-day moving average is $8.39 and its 200-day moving average is $9.35. Freightcar America has a 1-year low of $7.27 and a 1-year high of $14.90.

Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings data on Monday, August 3rd. The transportation company reported ($0.02) earnings per share (EPS) for the quarter. Freightcar America had a negative net margin of 2.69% and a negative return on equity of 15.23%. The business had revenue of $113.14 million during the quarter, compared to the consensus estimate of $110.41 million. Equities research analysts anticipate that Freightcar America will post 0.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC purchased a new stake in Freightcar America in the 1st quarter valued at about $147,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Freightcar America during the first quarter valued at approximately $61,000. Goldman Sachs Group Inc. increased its position in shares of Freightcar America by 58.8% during the first quarter. Goldman Sachs Group Inc. now owns 106,656 shares of the transportation company’s stock valued at $590,000 after acquiring an additional 39,506 shares during the last quarter. Jane Street Group LLC lifted its holdings in Freightcar America by 13.1% during the first quarter. Jane Street Group LLC now owns 108,724 shares of the transportation company’s stock worth $601,000 after acquiring an additional 12,610 shares during the period. Finally, JPMorgan Chase & Co. bought a new stake in Freightcar America during the second quarter worth $813,000. 31.96% of the stock is owned by institutional investors.

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.