Zacks Research Downgrades Freightcar America (NASDAQ:RAIL) to Strong Sell

Freightcar America (NASDAQ:RAIL) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Freightcar America in a research report on Friday, June 5th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce”.

Freightcar America Stock Performance

Shares of NASDAQ:RAIL opened at $7.96 on Tuesday. The firm has a 50 day simple moving average of $8.33 and a 200 day simple moving average of $9.83. Freightcar America has a 52 week low of $7.27 and a 52 week high of $14.90. The company has a market cap of $152.35 million, a PE ratio of 10.76 and a beta of 1.44.

Freightcar America (NASDAQ:RAIL) last posted its quarterly earnings data on Monday, May 4th. The transportation company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.06). Freightcar America had a negative return on equity of 15.56% and a net margin of 6.25%.The firm had revenue of $64.31 million for the quarter, compared to analysts’ expectations of $74.60 million. On average, equities analysts predict that Freightcar America will post 0.4 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its position in Freightcar America by 208.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock worth $29,000 after buying an additional 1,984 shares in the last quarter. Royal Bank of Canada grew its holdings in shares of Freightcar America by 2,843.5% during the 4th quarter. Royal Bank of Canada now owns 4,062 shares of the transportation company’s stock valued at $45,000 after acquiring an additional 3,924 shares in the last quarter. Quarry LP purchased a new position in shares of Freightcar America during the 3rd quarter valued at $53,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Freightcar America in the first quarter worth $61,000. Finally, State of Wyoming acquired a new position in shares of Freightcar America in the second quarter worth $63,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

About Freightcar America

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.