Zacks Investment Research Lowers FreightCar America (RAIL) to Sell

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FreightCar America (NASDAQ:RAIL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “

RAIL has been the topic of several other research reports. CL King lowered shares of FreightCar America from a “buy” rating to a “neutral” rating in a report on Thursday, November 1st. ValuEngine lowered shares of FreightCar America from a “buy” rating to a “hold” rating in a report on Tuesday, September 4th. Stephens reaffirmed a “hold” rating and set a $19.00 target price on shares of FreightCar America in a report on Thursday, August 2nd. Buckingham Research increased their target price on shares of FreightCar America from $16.00 to $19.00 and gave the company a “neutral” rating in a report on Monday, August 13th. Finally, Stifel Nicolaus set a $19.00 target price on shares of FreightCar America and gave the company a “hold” rating in a report on Friday, August 3rd. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $18.00.

Shares of RAIL opened at $9.52 on Wednesday. FreightCar America has a 12-month low of $9.51 and a 12-month high of $20.14. The stock has a market cap of $126.86 million, a P/E ratio of -8.21 and a beta of 1.50.

FreightCar America (NASDAQ:RAIL) last released its earnings results on Wednesday, October 31st. The transportation company reported ($0.50) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.24). FreightCar America had a negative net margin of 8.46% and a negative return on equity of 9.80%. The business had revenue of $78.97 million for the quarter, compared to the consensus estimate of $66.00 million. On average, equities analysts anticipate that FreightCar America will post -1.25 EPS for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in RAIL. SG Americas Securities LLC purchased a new stake in FreightCar America during the 2nd quarter valued at $115,000. Fuller & Thaler Asset Management Inc. purchased a new stake in FreightCar America during the 2nd quarter valued at $224,000. Los Angeles Capital Management & Equity Research Inc. purchased a new stake in FreightCar America during the 2nd quarter valued at $314,000. Chicago Equity Partners LLC purchased a new stake in FreightCar America during the 3rd quarter valued at $476,000. Finally, JPMorgan Chase & Co. boosted its position in FreightCar America by 109.5% during the 1st quarter. JPMorgan Chase & Co. now owns 109,421 shares of the transportation company’s stock valued at $1,466,000 after buying an additional 57,198 shares during the period. 84.88% of the stock is currently owned by institutional investors.

FreightCar America Company Profile

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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