FreightCar America (NASDAQ:RAIL) Coverage Initiated by Analysts at StockNews.com

Posted by Defense World Staff on Jun 15th, 2023

StockNews.com began coverage on shares of FreightCar America (NASDAQ:RAIL – Get Rating) in a research note issued on Thursday. The brokerage set a “sell” rating on the transportation company’s stock.

Several other brokerages have also issued reports on RAIL. TD Cowen dropped their target price on shares of FreightCar America from $6.00 to $5.00 and set a “market perform” rating for the company in a research report on Monday, April 10th. Stephens cut their target price on shares of 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 Trading Down 1.1 %

Shares of RAIL stock opened at $2.72 on Thursday. FreightCar America has a 12 month low of $2.63 and a 12 month high of $5.45. The stock has a market capitalization of $48.14 million, a P/E ratio of -4.06 and a beta of 2.07. The firm’s 50 day moving average is $2.91 and its 200 day moving average is $3.26.

FreightCar America (NASDAQ:RAIL – Get Rating) last released its quarterly earnings data on Wednesday, May 10th. The transportation company reported ($0.21) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.01). The firm had revenue of $81.00 million for the quarter. During the same period last year, the company earned ($0.22) earnings per share. On average, equities analysts predict that FreightCar America will post -0.37 EPS for the current year.

Insider Buying and Selling at FreightCar America

In related news, Director Nigris Felan Jose De acquired 10,000 shares of the stock in a transaction on Tuesday, May 16th. The stock was purchased at an average price of $3.00 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the director now owns 48,739 shares of the company’s stock, valued at approximately $146,217. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In other FreightCar America news, CEO James R. Meyer purchased 15,251 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was bought at an average price of $2.78 per share, with a total value of $42,397.78. Following the completion of the purchase, the chief executive officer now directly owns 622,766 shares of the company’s stock, valued at approximately $1,731,289.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Nigris Felan Jose De acquired 10,000 shares of FreightCar America stock in a transaction on Tuesday, May 16th. The shares were bought at an average cost of $3.00 per share, for a total transaction of $30,000.00. Following the completion of the transaction, the director now owns 48,739 shares in the company, valued at approximately $146,217. The disclosure for this purchase can be found here. Insiders acquired a total of 37,678 shares of company stock worth $109,057 over the last three months. Company insiders own 24.20% of the company’s stock.

Institutional Investors Weigh In On FreightCar America

Several hedge funds have recently made changes to their positions in RAIL. Minerva Advisors LLC grew its position in shares of FreightCar America by 2.6% in the 4th quarter. Minerva Advisors LLC now owns 806,412 shares of the transportation company’s stock worth $2,548,000 after buying an additional 20,325 shares during the period. Renaissance Technologies LLC raised its stake in FreightCar America by 14.2% during the fourth quarter. Renaissance Technologies LLC now owns 86,600 shares of the transportation company’s stock valued at $277,000 after buying an additional 10,765 shares during the last quarter. Jane Street Group LLC boosted its stake in FreightCar America by 95.8% in the 1st quarter. Jane Street Group LLC now owns 41,093 shares of the transportation company’s stock worth $243,000 after purchasing an additional 20,107 shares in the last quarter. UBS Group AG lifted its stake in shares of FreightCar America by 12.8% in the first quarter. UBS Group AG now owns 39,196 shares of the transportation company’s stock worth $122,000 after buying an additional 4,462 shares in the last quarter. Finally, PDT Partners LLC purchased a new stake in FreightCar America during the 2nd quarter valued at $94,000. 87.26% of the stock is currently owned by institutional investors.

FreightCar America Company Profile

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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.