FreightCar America (NASDAQ:RAIL) Earns Sell Rating from Analysts at StockNews.com

Posted by on Apr 12th, 2023

Equities researchers at StockNews.com started coverage on shares of FreightCar America (NASDAQ:RAIL – Get Rating) in a report issued on Wednesday. The brokerage set a “sell” rating on the transportation company’s stock.

Several other equities research analysts have also weighed in on the company. TD Cowen dropped their price target on FreightCar America from $6.00 to $5.00 and set a “market perform” rating on the stock in a research report on Monday. Stephens cut their target price on FreightCar America from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 28th.

FreightCar America Stock Performance

NASDAQ:RAIL opened at $3.03 on Wednesday. FreightCar America has a fifty-two week low of $2.90 and a fifty-two week high of $6.10. The company has a 50 day simple moving average of $3.47 and a two-hundred day simple moving average of $3.58. The company has a market capitalization of $53.63 million, a PE ratio of -1.91 and a beta of 2.09.

FreightCar America (NASDAQ:RAIL – Get Rating) last announced its earnings results on Monday, March 27th. The transportation company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.14) by ($0.17). The firm had revenue of $128.99 million during the quarter. Research analysts predict that FreightCar America will post 0.22 EPS for the current year.

Institutional Trading of FreightCar America

Hedge funds and other institutional investors have recently made changes to their positions in the company. LPL Financial LLC acquired a new position in FreightCar America in the 2nd quarter valued at $39,000. Independent Wealth Network Inc. acquired a new stake in FreightCar America during the third quarter worth about $45,000. UBS Group AG increased its stake in shares of FreightCar America by 1,210.8% in the third quarter. UBS Group AG now owns 13,108 shares of the transportation company’s stock valued at $49,000 after purchasing an additional 12,108 shares during the period. Jane Street Group LLC bought a new position in shares of FreightCar America in the third quarter valued at approximately $50,000. Finally, Charles Schwab Investment Management Inc. bought a new position in shares of FreightCar America in the fourth quarter valued at approximately $44,000. Institutional investors and hedge funds own 87.26% of the company’s stock.

About FreightCar America

(Get Rating)

FreightCar America, Inc engages in the manufacture of railcars and railcar components. It operates through the Manufacturing and Corporate and Other segments. The Manufacturing segment includes new railcar manufacturing, used railcar sales, railcar leasing and major railcar rebuilds. The Corporate and Other segment focuses on the sales of parts.

Featured Articles

Receive News & Ratings for FreightCar America Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FreightCar America and related companies with MarketBeat.com's FREE daily email newsletter.