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 hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. Zacks Investment Research currently has $5.25 target price on the transportation company’s stock.

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. “

RAIL has been the subject of several other research reports. Cowen restated a hold rating and issued a $6.00 price objective on shares of FreightCar America in a research report on Monday, August 5th. ValuEngine upgraded shares of FreightCar America from a sell rating to a hold rating in a research report on Thursday, August 1st. Six research analysts have rated the stock with a hold rating, The company presently has a consensus rating of Hold and an average target price of $6.56.

RAIL traded down $0.12 during midday trading on Tuesday, hitting $4.24. The company had a trading volume of 25,200 shares, compared to its average volume of 100,470. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.32 and a current ratio of 2.21. The company has a market capitalization of $57.63 million, a PE ratio of -2.38 and a beta of 1.42. FreightCar America has a twelve month low of $3.64 and a twelve month high of $15.53. The firm’s 50-day simple moving average is $4.70 and its 200-day simple moving average is $5.54.

FreightCar America (NASDAQ:RAIL) last posted its quarterly earnings data on Wednesday, July 31st. The transportation company reported ($0.41) earnings per share for the quarter, beating the consensus estimate of ($0.55) by $0.14. The firm had revenue of $73.66 million during the quarter. FreightCar America had a negative net margin of 19.85% and a negative return on equity of 17.45%. As a group, sell-side analysts anticipate that FreightCar America will post -2.32 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Trexquant Investment LP acquired a new stake in shares of FreightCar America during the 2nd quarter worth approximately $70,000. Citadel Advisors LLC acquired a new stake in shares of FreightCar America during the 2nd quarter worth approximately $80,000. Jane Street Group LLC acquired a new stake in shares of FreightCar America during the 2nd quarter worth approximately $92,000. JPMorgan Chase & Co. grew its position in shares of FreightCar America by 24.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 130,089 shares of the transportation company’s stock worth $740,000 after buying an additional 25,713 shares during the period. Finally, Morgan Stanley grew its position in shares of FreightCar America by 791.4% during the 2nd quarter. Morgan Stanley now owns 29,070 shares of the transportation company’s stock worth $171,000 after buying an additional 25,809 shares during the period. Hedge funds and other institutional investors own 71.96% of the company’s stock.

FreightCar America Company Profile

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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