Freightcar America (NASDAQ:RAIL) Raised to Hold at Zacks Research

Freightcar America (NASDAQ:RAIL) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Separately, Weiss Ratings lowered Freightcar America from a “hold (c)” rating to a “sell (d)” rating in a research note on Tuesday, August 4th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce”.

Freightcar America Stock Performance

NASDAQ:RAIL opened at $7.41 on Wednesday. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.12 and a current ratio of 1.81. The stock has a 50-day simple moving average of $8.39 and a two-hundred day simple moving average of $9.35. The firm has a market capitalization of $242.97 million, a PE ratio of -13.72 and a beta of 1.48. Freightcar America has a 52-week low of $7.27 and a 52-week high of $14.90.

Freightcar America (NASDAQ:RAIL) last released its earnings results on Monday, August 3rd. The transportation company reported ($0.02) earnings per share (EPS) for the quarter. Freightcar America had a negative return on equity of 15.23% and a negative net margin of 2.69%.The firm had revenue of $113.14 million during the quarter, compared to analysts’ expectations of $110.41 million. Analysts forecast that Freightcar America will post 0.35 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC purchased a new position in shares of Freightcar America in the first quarter valued at $147,000. Dynamic Technology Lab Private Ltd purchased a new stake in Freightcar America during the first quarter valued at $61,000. Goldman Sachs Group Inc. raised its stake in 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 purchasing an additional 39,506 shares in the last quarter. Jane Street Group LLC lifted its position 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 valued at $601,000 after purchasing an additional 12,610 shares during the last quarter. Finally, JPMorgan Chase & Co. purchased a new position in shares of Freightcar America in the 2nd quarter worth $813,000. 31.96% of the stock is currently 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.