FreightCar America (NASDAQ:RAIL) Lowered to Hold Rating by StockNews.com

StockNews.com cut shares of FreightCar America (NASDAQ:RAIL) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

FreightCar America Trading Up 4.4 %

RAIL stock opened at $13.33 on Tuesday. The company has a market capitalization of $251.86 million, a P/E ratio of -3.14 and a beta of 1.96. The business has a 50 day simple moving average of $10.58 and a 200-day simple moving average of $9.61. FreightCar America has a twelve month low of $2.70 and a twelve month high of $16.10.

Insider Transactions at FreightCar America

In other news, Director James R. Meyer acquired 23,400 shares of the stock in a transaction that occurred on Thursday, November 14th. The shares were purchased at an average cost of $10.74 per share, for a total transaction of $251,316.00. Following the transaction, the director now directly owns 838,278 shares in the company, valued at approximately $9,003,105.72. This represents a 2.87 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 28.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Quantbot Technologies LP purchased a new stake in FreightCar America in the 3rd quarter valued at approximately $49,000. JPMorgan Chase & Co. boosted its stake in shares of FreightCar America by 98.4% in the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock valued at $50,000 after buying an additional 2,281 shares in the last quarter. Barclays PLC acquired a new position in FreightCar America during the third quarter worth $73,000. Ritholtz Wealth Management purchased a new position in FreightCar America in the fourth quarter worth $104,000. Finally, Janney Montgomery Scott LLC acquired a new stake in FreightCar America in the fourth quarter valued at $180,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

FreightCar America Company Profile

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.