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. “
Several other brokerages have also recently commented on RAIL. Cowen lowered their target price on shares of FreightCar America from $6.00 to $4.50 and set a market perform rating on the stock in a report on Friday, November 1st. Buckingham Research set a $3.50 target price on shares of FreightCar America and gave the stock a hold rating in a report on Friday, November 1st. Finally, ValuEngine raised shares of FreightCar America from a sell rating to a hold rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company has a consensus rating of Hold and an average target price of $5.19.
FreightCar America (NASDAQ:RAIL) last released its quarterly earnings results on Wednesday, October 30th. The transportation company reported ($1.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.43) by ($0.60). The company had revenue of $40.65 million during the quarter. FreightCar America had a negative net margin of 33.47% and a negative return on equity of 24.65%. As a group, equities analysts expect that FreightCar America will post -2.78 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Parthenon LLC increased its holdings in shares of FreightCar America by 21.7% during the third quarter. Parthenon LLC now owns 143,312 shares of the transportation company’s stock worth $695,000 after purchasing an additional 25,550 shares during the period. California Public Employees Retirement System increased its stake in FreightCar America by 5.8% in the third quarter. California Public Employees Retirement System now owns 153,300 shares of the transportation company’s stock valued at $744,000 after acquiring an additional 8,400 shares during the last quarter. Jane Street Group LLC bought a new position in FreightCar America in the second quarter valued at approximately $92,000. Citadel Advisors LLC bought a new position in FreightCar America in the second quarter valued at approximately $80,000. Finally, Morgan Stanley increased its stake in FreightCar America by 791.4% in the second quarter. Morgan Stanley now owns 29,070 shares of the transportation company’s stock valued at $171,000 after acquiring an additional 25,809 shares during the last quarter. 71.96% of the stock is currently owned by institutional investors.
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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