Freightcar America (NASDAQ:RAIL) Downgraded to Hold Rating by Wall Street Zen

Wall Street Zen lowered shares of Freightcar America (NASDAQ:RAIL) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Freightcar America Trading Up 9.2%

RAIL stock opened at $9.94 on Friday. The business’s 50-day moving average price is $9.37 and its two-hundred day moving average price is $7.94. The firm has a market cap of $190.15 million, a PE ratio of -14.20 and a beta of 1.95. Freightcar America has a 1-year low of $4.31 and a 1-year high of $16.10.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Inc. lifted its holdings in Freightcar America by 24.7% during the second quarter. Raymond James Financial Inc. now owns 20,545 shares of the transportation company’s stock worth $177,000 after acquiring an additional 4,067 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of Freightcar America by 30.8% in the second quarter. AlphaQuest LLC now owns 21,181 shares of the transportation company’s stock valued at $183,000 after purchasing an additional 4,984 shares in the last quarter. Ritholtz Wealth Management lifted its holdings in shares of Freightcar America by 54.6% in the second quarter. Ritholtz Wealth Management now owns 16,382 shares of the transportation company’s stock valued at $141,000 after purchasing an additional 5,789 shares in the last quarter. Algert Global LLC lifted its holdings in shares of Freightcar America by 49.4% in the first quarter. Algert Global LLC now owns 20,950 shares of the transportation company’s stock valued at $116,000 after purchasing an additional 6,930 shares in the last quarter. Finally, State of Wyoming bought a new stake in shares of Freightcar America in the second quarter valued at about $63,000. 31.96% of the stock is currently owned by institutional investors.

Freightcar America Company Profile

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.