FreightCar America (NASDAQ:RAIL) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of FreightCar America (NASDAQ:RAIL) from a hold rating to a buy rating in a report issued on Wednesday morning.

FreightCar America Price Performance

Shares of NASDAQ:RAIL opened at $12.52 on Wednesday. FreightCar America has a 12-month low of $2.86 and a 12-month high of $16.10. The business has a 50-day moving average price of $10.79 and a 200 day moving average price of $9.92.

Hedge Funds Weigh In On FreightCar America

Several large investors have recently made changes to their positions in the stock. Arrowstreet Capital Limited Partnership raised its position in FreightCar America by 125.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 389,018 shares of the transportation company’s stock valued at $3,486,000 after purchasing an additional 216,307 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of FreightCar America by 90.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 188,369 shares of the transportation company’s stock valued at $1,688,000 after buying an additional 89,471 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of FreightCar America by 12.4% in the 3rd quarter. Geode Capital Management LLC now owns 180,618 shares of the transportation company’s stock valued at $1,950,000 after buying an additional 19,890 shares during the period. Consolidated Portfolio Review Corp acquired a new position in FreightCar America during the 4th quarter worth about $743,000. Finally, Walleye Capital LLC purchased a new position in FreightCar America during the 3rd quarter valued at about $813,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

About FreightCar America

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.