FreightCar America (NASDAQ:RAIL) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of FreightCar America (NASDAQ:RAIL) from a sell rating to a hold rating in a research report released on Saturday, Zacks.com reports.

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, ValuEngine upgraded FreightCar America from a sell rating to a hold rating in a research note on Thursday, August 1st. Six analysts have rated the stock with a hold rating, The stock has a consensus rating of Hold and an average target price of $7.00.

Shares of FreightCar America stock opened at $4.96 on Friday. FreightCar America has a 52-week low of $4.89 and a 52-week high of $19.25. The firm has a 50-day moving average price of $5.70. The company has a market cap of $62.48 million, a PE ratio of -2.79 and a beta of 1.43. The company has a quick ratio of 1.24, a current ratio of 2.01 and a debt-to-equity ratio of 0.43.

In related news, CFO Christopher J. Eppel bought 8,468 shares of FreightCar America stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $6.02 per share, with a total value of $50,977.36. Following the acquisition, the chief financial officer now directly owns 50,500 shares of the company’s stock, valued at $304,010. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Malcolm F. Moore bought 4,000 shares of FreightCar America stock in a transaction on Thursday, May 16th. The shares were bought at an average cost of $6.35 per share, with a total value of $25,400.00. Following the acquisition, the director now directly owns 25,913 shares in the company, valued at $164,547.55. The disclosure for this purchase can be found here. Insiders purchased a total of 20,468 shares of company stock worth $126,937 over the last 90 days. 6.65% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of RAIL. Minerva Advisors LLC purchased a new stake in FreightCar America during the 2nd quarter valued at about $427,000. Pacific Ridge Capital Partners LLC raised its holdings in FreightCar America by 21.1% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 211,215 shares of the transportation company’s stock worth $1,301,000 after purchasing an additional 36,773 shares during the period. Parthenon LLC acquired a new position in FreightCar America in the 1st quarter worth about $725,000. Millennium Management LLC acquired a new position in FreightCar America in the 4th quarter worth about $247,000. Finally, Two Sigma Investments LP raised its holdings in FreightCar America by 103.3% in the 4th quarter. Two Sigma Investments LP now owns 53,594 shares of the transportation company’s stock worth $359,000 after purchasing an additional 27,229 shares during the period. 83.48% of the stock is owned by institutional investors and hedge funds.

About FreightCar America

FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. It operates through two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.

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