Zacks Investment Research cut shares of FreightCar America (NASDAQ:RAIL) from a hold rating to a sell rating in a research report sent to investors on Wednesday.

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. “

A number of other research firms also recently weighed in on RAIL. Stifel Nicolaus set a $19.00 target price on FreightCar America and gave the stock a hold rating in a research report on Friday, August 3rd. Stephens restated a hold rating and set a $19.00 target price on shares of FreightCar America in a research report on Thursday, August 2nd. Buckingham Research boosted their target price on FreightCar America from $16.00 to $19.00 and gave the stock a neutral rating in a research report on Monday, August 13th. ValuEngine upgraded FreightCar America from a hold rating to a buy rating in a research report on Tuesday, July 10th. Finally, CL King downgraded FreightCar America from a buy rating to a neutral rating in a research report on Thursday, November 1st. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. The company has a consensus rating of Hold and a consensus price target of $18.00.

Shares of RAIL stock traded down $0.15 on Wednesday, reaching $10.31. 134,586 shares of the stock were exchanged, compared to its average volume of 95,804. The company has a market cap of $123.87 million, a P/E ratio of -8.89 and a beta of 1.50. FreightCar America has a one year low of $9.40 and a one year high of $20.14.

FreightCar America (NASDAQ:RAIL) last released its earnings results on Wednesday, October 31st. The transportation company reported ($0.50) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.24). The firm had revenue of $78.97 million for the quarter, compared to the consensus estimate of $66.00 million. FreightCar America had a negative return on equity of 9.80% and a negative net margin of 8.46%. On average, analysts predict that FreightCar America will post -1.29 EPS for the current year.

In related news, insider James R. Meyer acquired 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 7th. The stock was acquired at an average price of $9.86 per share, for a total transaction of $49,300.00. Following the completion of the acquisition, the insider now owns 35,006 shares of the company’s stock, valued at approximately $345,159.16. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.51% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RAIL. SG Americas Securities LLC bought a new stake in FreightCar America in the second quarter valued at about $115,000. Fuller & Thaler Asset Management Inc. bought a new stake in FreightCar America in the second quarter valued at about $224,000. Los Angeles Capital Management & Equity Research Inc. bought a new stake in FreightCar America in the second quarter valued at about $314,000. Chicago Equity Partners LLC bought a new stake in shares of FreightCar America in the third quarter worth about $476,000. Finally, JPMorgan Chase & Co. increased its holdings in shares of FreightCar America by 109.5% in the first quarter. JPMorgan Chase & Co. now owns 109,421 shares of the transportation company’s stock worth $1,466,000 after acquiring an additional 57,198 shares in the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

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. 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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