Globeflex Capital L P Buys 64,775 Shares of Freightcar America, Inc. $RAIL

Globeflex Capital L P boosted its stake in Freightcar America, Inc. (NASDAQ:RAIL) by 840.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,484 shares of the transportation company’s stock after purchasing an additional 64,775 shares during the quarter. Globeflex Capital L P’s holdings in Freightcar America were worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Cubist Systematic Strategies LLC purchased a new position in Freightcar America in the 1st quarter worth approximately $147,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Freightcar America during the 1st quarter valued at $61,000. Goldman Sachs Group Inc. raised its position in shares of Freightcar America by 58.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 106,656 shares of the transportation company’s stock valued at $590,000 after buying an additional 39,506 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of Freightcar America by 13.1% during the 1st quarter. Jane Street Group LLC now owns 108,724 shares of the transportation company’s stock worth $601,000 after acquiring an additional 12,610 shares during the last quarter. Finally, JPMorgan Chase & Co. bought a new stake in shares of Freightcar America during the 2nd quarter worth $813,000. 31.96% of the stock is currently owned by institutional investors.

Freightcar America Stock Performance

Shares of RAIL opened at $8.16 on Thursday. The firm has a market cap of $156.18 million, a price-to-earnings ratio of 11.03 and a beta of 1.44. Freightcar America, Inc. has a fifty-two week low of $7.27 and a fifty-two week high of $14.90. The firm has a 50 day moving average price of $8.30 and a 200-day moving average price of $9.70.

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

Analysts Set New Price Targets

RAIL has been the subject of several research reports. Zacks Research lowered shares of Freightcar America from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. Weiss Ratings restated a “hold (c)” rating on shares of Freightcar America in a research report on Friday, June 5th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

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.