Freightcar America (NASDAQ:RAIL) Issues Quarterly Earnings Results

Freightcar America (NASDAQ:RAIL) announced its quarterly earnings data on Monday. The transportation company reported ($0.02) EPS for the quarter, FiscalAI reports. The firm had revenue of $113.14 million during the quarter, compared to analyst estimates of $110.41 million. Freightcar America had a negative return on equity of 15.56% and a net margin of 6.25%.

Freightcar America Stock Performance

NASDAQ:RAIL traded up $0.27 during mid-day trading on Monday, hitting $8.24. The company had a trading volume of 245,973 shares, compared to its average volume of 197,638. Freightcar America has a fifty-two week low of $7.27 and a fifty-two week high of $14.90. The firm has a market cap of $157.71 million, a P/E ratio of 11.14 and a beta of 1.48. The business’s fifty day moving average is $8.35 and its two-hundred day moving average is $9.57.

Institutional Trading of Freightcar America

A number of hedge funds have recently modified their holdings of RAIL. BNP Paribas Financial Markets grew its holdings in Freightcar America by 208.6% during the third quarter. BNP Paribas Financial Markets now owns 2,935 shares of the transportation company’s stock valued at $29,000 after purchasing an additional 1,984 shares during the period. Royal Bank of Canada grew its holdings in shares of Freightcar America by 2,843.5% in the 4th quarter. Royal Bank of Canada now owns 4,062 shares of the transportation company’s stock valued at $45,000 after buying an additional 3,924 shares during the period. Quarry LP acquired a new position in shares of Freightcar America in the 3rd quarter valued at $53,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Freightcar America in the 1st quarter valued at $61,000. Finally, State of Wyoming bought a new stake in shares of Freightcar America in the 2nd quarter valued at $63,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on RAIL shares. Weiss Ratings restated a “hold (c)” rating on shares of Freightcar America in a research report on Friday, June 5th. Zacks Research cut shares of Freightcar America from a “hold” rating to a “strong sell” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Freightcar America 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.