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

StockNews.com started coverage on shares of FreightCar America (NASDAQ:RAIL – Get Rating) in a research note issued to investors on Monday morning. The brokerage issued a sell rating on the transportation company’s stock.

Other equities analysts also recently issued reports about the stock. Stephens dropped their price target on shares of FreightCar America from $4.00 to $3.00 and set an equal weight rating on the stock in a research note on Tuesday, March 28th. TD Cowen decreased their price objective on shares of FreightCar America from $6.00 to $5.00 and set a market perform rating for the company in a report on Monday, April 10th.

FreightCar America Stock Down 2.1 %

Shares of NASDAQ:RAIL opened at $2.79 on Monday. The company’s fifty day moving average is $3.00 and its two-hundred day moving average is $3.38. FreightCar America has a 12-month low of $2.63 and a 12-month high of $5.45. The company has a market cap of $49.38 million, a P/E ratio of -4.16 and a beta of 2.09.

FreightCar America (NASDAQ:RAIL – Get Rating) last posted its quarterly earnings results on Wednesday, May 10th. The transportation company reported ($0.21) earnings per share 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 in the prior year, the firm earned ($0.22) EPS. Equities research analysts anticipate that FreightCar America will post -0.41 earnings per share for the current year.

Insider Buying and Selling at FreightCar America

In other news, Director Nigris Felan Jose De purchased 10,000 shares of the firm’s stock in a transaction on Tuesday, May 16th. The stock was bought at an average cost of $3.00 per share, for a total transaction of $30,000.00. Following the completion of the acquisition, the director now directly owns 48,739 shares of the company’s stock, valued at $146,217. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Nigris Felan Jose De bought 10,000 shares of FreightCar America stock in a transaction that occurred on Tuesday, May 16th. The stock was acquired at an average price of $3.00 per share, for a total transaction of $30,000.00. Following the completion of the purchase, the director now owns 48,739 shares in the company, valued at $146,217. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO James R. Meyer bought 12,427 shares of FreightCar America stock in a transaction that occurred on Monday, May 15th. The stock was bought at an average price of $2.95 per share, with a total value of $36,659.65. Following the purchase, the chief executive officer now owns 17,327 shares of the company’s stock, valued at approximately $51,114.65. The disclosure for this purchase can be found here. Insiders bought 37,678 shares of company stock worth $109,057 over the last ninety days. Company insiders own 24.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Bank of America Corp DE increased its holdings in shares of FreightCar America by 38,276.7% during the first quarter. Bank of America Corp DE now owns 11,513 shares of the transportation company’s stock worth $36,000 after buying an additional 11,483 shares in the last quarter. LPL Financial LLC acquired a new stake in shares of FreightCar America during the second quarter worth approximately $39,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of FreightCar America during the fourth quarter worth approximately $44,000. UBS Group AG increased its holdings in shares of FreightCar America by 1,210.8% during the third quarter. UBS Group AG now owns 13,108 shares of the transportation company’s stock worth $49,000 after buying an additional 12,108 shares in the last quarter. Finally, Jane Street Group LLC acquired a new stake in shares of FreightCar America during the third quarter worth approximately $50,000. Institutional investors and hedge funds own 87.26% of the company’s stock.

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.