Freightcar America (NASDAQ:RAIL) Rating Increased to Buy at Wall Street Zen

Key Points

• Freightcar America has been upgraded from a "hold" rating to a "buy" rating by Wall Street Zen, signaling increased investor confidence in the company.
• Insider Celia Perez sold 7,982 shares of Freightcar America, reducing her ownership by 13.69%, which could indicate potential concerns among company insiders.
• Several institutional investors have increased their stakes in Freightcar America, including North Star Investment Management Corp. and Russell Investments Group Ltd., highlighting growing interest from large investors.

Wall Street Zen upgraded shares of Freightcar America (NASDAQ:RAIL - Free Report) from a hold rating to a buy rating in a research note released on Sunday.

Freightcar America Trading Down 0.8%

Shares of RAIL stock traded down $0.07 during mid-day trading on Friday, reaching $8.31. The stock had a trading volume of 99,995 shares, compared to its average volume of 223,479. The business's fifty day moving average is $9.66 and its 200-day moving average is $7.86. The firm has a market cap of $158.97 million, a price-to-earnings ratio of -11.87 and a beta of 1.95. Freightcar America has a 1-year low of $4.31 and a 1-year high of $16.10.

Insider Buying and Selling at Freightcar America

In other news, insider Celia Perez sold 7,982 shares of the 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 transaction, the insider directly owned 50,326 shares of the company's stock, valued at approximately $432,300.34. This represents a 13.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 28.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of RAIL. Mechanics Financial Corp acquired a new position in shares of Freightcar America in the first quarter valued at about $55,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Freightcar America in the first quarter valued at about $61,000. State of Wyoming acquired a new position in shares of Freightcar America in the second quarter valued at about $63,000. Walleye Capital LLC acquired a new position in shares of Freightcar America in the first quarter valued at about $74,000. Finally, Pacific Wealth Strategies Group Inc. acquired a new stake in Freightcar America during the second quarter worth about $87,000. 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.