Freightcar America (NASDAQ:RAIL) Raised to “Buy” at Wall Street Zen

Freightcar America (NASDAQ:RAIL) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

A number of other equities research analysts have also weighed in on RAIL. Weiss Ratings lowered Freightcar America from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Saturday, October 25th. Zacks Research upgraded Freightcar America from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. One investment 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 stock. According to MarketBeat.com, Freightcar America currently has an average rating of “Moderate Buy” and a consensus target price of $9.00.

Freightcar America Stock Up 1.2%

Shares of Freightcar America stock opened at $8.60 on Friday. The firm has a market cap of $164.09 million, a PE ratio of 3.26 and a beta of 1.66. Freightcar America has a 12-month low of $4.31 and a 12-month high of $13.64. The company’s fifty day simple moving average is $8.88 and its two-hundred day simple moving average is $9.03.

Freightcar America (NASDAQ:RAIL) last issued its quarterly earnings data on Monday, November 10th. The transportation company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.16 by $0.08. The firm had revenue of $160.51 million during the quarter, compared to the consensus estimate of $157.25 million. Freightcar America had a net margin of 17.40% and a negative return on equity of 17.35%. As a group, sell-side analysts expect that Freightcar America will post 0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Freightcar America

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RAIL. BNP Paribas Financial Markets grew its stake in shares of 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 acquiring an additional 1,984 shares during the last quarter. Quarry LP bought a new position in Freightcar America in the 3rd quarter worth about $53,000. Dynamic Technology Lab Private Ltd purchased a new stake in Freightcar America during the 1st quarter valued at about $61,000. State of Wyoming purchased a new stake in Freightcar America during the 2nd quarter valued at about $63,000. Finally, Walleye Capital LLC bought a new stake in Freightcar America during the 1st quarter valued at about $74,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

About Freightcar America

FreightCar America, Inc, through its subsidiaries, engages in design, manufacture, and sale of railcars and railcar components for the transportation of bulk commodities and containerized freight products in the United States and Mexico. It operates in two segments, Manufacturing and Parts. The company offers a range of railcars, including open top hoppers, mill gondola cars, intermodal and non-intermodal flat cars, coal cars; bulk commodity cars covered hopper cars, coil steel cars, boxcars, woodchip hoppers, aluminum vehicle carriers, and articulated bulk container railcars.