Freightcar America (NASDAQ:RAIL) Stock Rating Lowered by Wall Street Zen

Key Points

• Freightcar America was downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a cautious outlook from analysts.
• The stock opened at $8.54 and is significantly below its one-year high of $16.10, with a market capitalization of $163.37 million.
• Insider Celia Perez sold 7,982 shares, marking a 13.69% decrease in her ownership, while institutional investors have actively adjusted their positions in the company.

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

Freightcar America Stock Performance

NASDAQ RAIL traded down $0.17 during mid-day trading on Friday, reaching $8.23. 89,950 shares of the stock were exchanged, compared to its average volume of 225,856. The company has a market capitalization of $157.32 million, a P/E ratio of -11.75 and a beta of 1.95. The business's 50 day moving average is $9.69 and its 200-day moving average is $7.92. Freightcar America has a 1 year low of $4.31 and a 1 year high of $16.10.

Insider Activity at Freightcar America

In related news, insider Celia Perez sold 7,982 shares of the company's stock in a transaction dated Tuesday, June 24th. The stock was sold at an average price of $8.59, for a total value of $68,565.38. Following the completion of the transaction, the insider owned 50,326 shares of the company's stock, valued at approximately $432,300.34. This represents a 13.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 28.70% of the stock is owned by company insiders.

Institutional Trading of Freightcar America

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of Freightcar America during the 4th quarter valued at approximately $282,000. Barclays PLC raised its position in Freightcar America by 217.9% during the fourth quarter. Barclays PLC now owns 21,445 shares of the transportation company's stock worth $193,000 after acquiring an additional 14,699 shares during the period. Dimensional Fund Advisors LP raised its position in Freightcar America by 81.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 61,209 shares of the transportation company's stock worth $549,000 after acquiring an additional 27,521 shares during the period. Tower Research Capital LLC TRC lifted its holdings in Freightcar America by 758.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 19,372 shares of the transportation company's stock valued at $174,000 after purchasing an additional 17,115 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC acquired a new stake in shares of Freightcar America in the fourth quarter valued at about $240,000. 31.96% of the stock is currently owned by hedge funds and other institutional investors.

About Freightcar America

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.