FreightCar America (NASDAQ:RAIL) Earns Buy Rating from Analysts at Northcoast Research

Northcoast Research started coverage on shares of FreightCar America (NASDAQ:RAIL - Free Report) in a report issued on Thursday, MarketBeat reports. The firm issued a buy rating and a $9.00 price target on the transportation company's stock.

Separately, StockNews.com lowered shares of FreightCar America from a "strong-buy" rating to a "buy" rating in a research note on Wednesday, March 26th.

FreightCar America Trading Up 7.2 %

FreightCar America stock traded up $0.43 during trading hours on Thursday, hitting $6.40. 312,340 shares of the stock traded hands, compared to its average volume of 260,186. FreightCar America has a one year low of $3.02 and a one year high of $16.10. The company has a market cap of $121.97 million, a PE ratio of -1.51 and a beta of 1.73. The firm's 50-day moving average price is $6.09 and its two-hundred day moving average price is $9.37.

FreightCar America (NASDAQ:RAIL - Get Free Report) last issued its quarterly earnings results on Wednesday, March 12th. The transportation company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.16. The company had revenue of $137.70 million for the quarter, compared to analysts' expectations of $152.02 million. FreightCar America had a negative return on equity of 27.10% and a negative net margin of 20.66%. On average, sell-side analysts expect that FreightCar America will post 0.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FreightCar America

A number of institutional investors have recently modified their holdings of RAIL. State Street Corp grew its position in FreightCar America by 21.6% during the 3rd quarter. State Street Corp now owns 53,958 shares of the transportation company's stock valued at $582,000 after purchasing an additional 9,600 shares during the last quarter. Barclays PLC purchased a new stake in shares of FreightCar America during the third quarter valued at approximately $73,000. Geode Capital Management LLC increased its position in shares of FreightCar America by 12.4% during the third quarter. Geode Capital Management LLC now owns 180,618 shares of the transportation company's stock valued at $1,950,000 after acquiring an additional 19,890 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of FreightCar America by 98.4% during the third quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company's stock valued at $50,000 after acquiring an additional 2,281 shares in the last quarter. Finally, Ritholtz Wealth Management purchased a new position in FreightCar America in the 4th quarter worth approximately $104,000. 31.96% of the stock is owned by hedge funds and other institutional investors.

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.