StockNews.com Initiates Coverage on FreightCar America (NASDAQ:RAIL)

StockNews.com started coverage on shares of FreightCar America (NASDAQ:RAIL) in a research report issued on Tuesday. The firm set a “hold” rating on the transportation company’s stock.

Separately, Noble Financial upgraded shares of FreightCar America to a “strong-buy” rating in a research report on Friday, June 28th.

FreightCar America Stock Performance

Shares of RAIL stock opened at $6.58 on Tuesday. FreightCar America has a 52 week low of $2.25 and a 52 week high of $6.86. The stock has a market capitalization of $123.12 million, a PE ratio of -4.27 and a beta of 1.97. The stock’s fifty day moving average is $3.76 and its 200-day moving average is $3.61.

FreightCar America (NASDAQ:RAIL) last posted its quarterly earnings results on Monday, August 12th. The transportation company reported $0.05 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.05. The business had revenue of $147.42 million for the quarter, compared to analysts’ expectations of $127.09 million. FreightCar America had a negative return on equity of 28.11% and a negative net margin of 0.62%. During the same quarter last year, the business earned $0.02 earnings per share. As a group, analysts forecast that FreightCar America will post 0.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FreightCar America

Several institutional investors have recently modified their holdings of RAIL. Vanguard Group Inc. boosted its stake in FreightCar America by 4.7% during the 1st quarter. Vanguard Group Inc. now owns 584,292 shares of the transportation company’s stock worth $2,250,000 after acquiring an additional 26,412 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of FreightCar America by 43.4% during the second quarter. Renaissance Technologies LLC now owns 116,887 shares of the transportation company’s stock worth $408,000 after purchasing an additional 35,387 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of FreightCar America by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock valued at $104,000 after buying an additional 5,880 shares during the period. 31.96% of the stock is currently owned by institutional investors and hedge funds.

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.