BlackRock Inc. purchased a new stake in shares of Freightcar America, Inc. (NASDAQ:RAIL - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 958,735 shares of the transportation company's stock, valued at approximately $9,338,000. BlackRock Inc. owned approximately 5.01% of Freightcar America as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of Freightcar America by 2.2% in the 3rd quarter. Vanguard Group Inc. now owns 631,029 shares of the transportation company's stock worth $6,171,000 after acquiring an additional 13,301 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Freightcar America by 92.4% during the fourth quarter. Marshall Wace LLP now owns 446,420 shares of the transportation company's stock valued at $4,942,000 after acquiring an additional 214,397 shares in the last quarter. Diamond Hill Capital Management LLC Investment Advisor purchased a new stake in shares of Freightcar America in the second quarter valued at approximately $3,584,000. Essex Investment Management Co. LLC grew its stake in Freightcar America by 68.7% in the fourth quarter. Essex Investment Management Co. LLC now owns 346,144 shares of the transportation company's stock worth $3,832,000 after purchasing an additional 140,946 shares in the last quarter. Finally, Ancora Advisors LLC increased its holdings in Freightcar America by 12.9% during the 3rd quarter. Ancora Advisors LLC now owns 328,921 shares of the transportation company's stock worth $3,217,000 after purchasing an additional 37,530 shares during the period. 31.96% of the stock is owned by institutional investors.
Freightcar America Stock Performance
NASDAQ:RAIL opened at $7.10 on Friday. The stock has a market capitalization of $232.81 million, a PE ratio of -13.15 and a beta of 1.46. Freightcar America, Inc. has a fifty-two week low of $6.57 and a fifty-two week high of $14.90. The company has a fifty day moving average of $7.86 and a two-hundred day moving average of $8.79. The company has a debt-to-equity ratio of 2.70, a quick ratio of 1.12 and a current ratio of 1.81.
Freightcar America (NASDAQ:RAIL - Get Free Report) last issued its quarterly earnings results on Monday, August 3rd. The transportation company reported ($0.02) earnings per share (EPS) for the quarter. 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 15.23% and a negative net margin of 2.69%. As a group, research analysts forecast that Freightcar America, Inc. will post 0.35 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on RAIL. Weiss Ratings cut Freightcar America from a "hold (c)" rating to a "sell (d)" rating in a report on Tuesday, August 4th. Zacks Research upgraded shares of Freightcar America from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. One equities 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.com, the stock currently has an average rating of "Reduce".
Check Out Our Latest Analysis on Freightcar America
About Freightcar America
(
Free Report)
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.
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