Freightcar America (NASDAQ:RAIL) Upgraded by Wall Street Zen to "Buy" Rating

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 morning.

Freightcar America Stock Performance

Shares of Freightcar America stock traded down $0.02 on Friday, reaching $8.46. 121,230 shares of the company's stock were exchanged, compared to its average volume of 157,772. The company has a market capitalization of $161.84 million, a P/E ratio of -12.09 and a beta of 1.95. Freightcar America has a 52 week low of $4.31 and a 52 week high of $16.10. The firm's 50-day moving average is $9.63 and its two-hundred day moving average is $7.87.

Insider Activity

In other Freightcar America news, insider Celia Perez sold 7,982 shares of the stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $8.59, for a total transaction of $68,565.38. Following the transaction, the insider directly owned 50,326 shares in the company, valued at approximately $432,300.34. This represents a 13.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 28.70% of the company's stock.

Hedge Funds Weigh In On Freightcar America

A number of institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP boosted its holdings in shares of Freightcar America by 12.2% during the 2nd quarter. Marshall Wace LLP now owns 238,331 shares of the transportation company's stock worth $2,054,000 after buying an additional 25,895 shares in the last quarter. North Star Investment Management Corp. bought a new position in shares of Freightcar America in the 2nd quarter worth $1,498,000. Russell Investments Group Ltd. lifted its holdings in shares of Freightcar America by 435.5% in the 1st quarter. Russell Investments Group Ltd. now owns 141,337 shares of the transportation company's stock worth $782,000 after purchasing an additional 114,945 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of Freightcar America by 170.7% in the 4th quarter. Millennium Management LLC now owns 140,108 shares of the transportation company's stock worth $1,255,000 after purchasing an additional 88,356 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Freightcar America by 13.1% in 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 in the last quarter. 31.96% of the stock is currently owned by 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.