Freightcar America (NASDAQ:RAIL) Lowered to "Hold" Rating by Wall Street Zen

Key Points

• Freightcar America has been downgraded from a "buy" to a "hold" rating by Wall Street Zen, reflecting a more cautious outlook by analysts.
• The stock opened at $9.10, with a market cap of $174.08 million, and it has experienced significant fluctuations, having a 52-week range from $4.31 to $16.10.
• Insider trading activity includes the sale of 7,982 shares by Celia Perez, indicating notable changes in insider ownership, which now stands at 28.70% of total shares.

Freightcar America (NASDAQ:RAIL - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued to investors on Saturday.

Freightcar America Price Performance

Shares of NASDAQ:RAIL traded down $0.09 during trading on Friday, hitting $9.85. 19,162 shares of the company were exchanged, compared to its average volume of 219,698. The stock has a market capitalization of $188.41 million, a P/E ratio of -14.07 and a beta of 1.95. Freightcar America has a 12-month low of $4.31 and a 12-month high of $16.10. The firm's 50 day moving average price is $9.37 and its 200-day moving average price is $7.94.

Hedge Funds Weigh In On Freightcar America

A number of institutional investors have recently modified their holdings of the business. Marshall Wace LLP increased its stake in Freightcar America by 12.2% in the 2nd quarter. Marshall Wace LLP now owns 238,331 shares of the transportation company's stock valued at $2,054,000 after buying an additional 25,895 shares during the period. North Star Investment Management Corp. acquired a new position in Freightcar America in the 2nd quarter valued at $1,498,000. Russell Investments Group Ltd. increased its stake in Freightcar America by 435.5% in the 1st quarter. Russell Investments Group Ltd. now owns 141,337 shares of the transportation company's stock valued at $782,000 after buying an additional 114,945 shares during the period. Millennium Management LLC increased its stake in Freightcar America by 170.7% in the 4th quarter. Millennium Management LLC now owns 140,108 shares of the transportation company's stock valued at $1,255,000 after buying an additional 88,356 shares during the period. Finally, Jane Street Group LLC grew its stake 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 purchasing an additional 12,610 shares during the period. 31.96% of the stock is owned by institutional investors and hedge funds.

Freightcar America Company Profile

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.