Freightcar America (NASDAQ:RAIL) Upgraded at Zacks Research

Key Points

• Freightcar America has been upgraded by Zacks Research from a "hold" rating to a "strong-buy" rating.
• Recent institutional investments have increased significantly, with Russell Investments Group raising its stake by 435.5% in the first quarter.
• The stock currently holds an average price target of $9.00 and has been rated as a "Buy" by Wall Street Zen and others.

Freightcar America (NASDAQ:RAIL - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a research report issued on Tuesday,Zacks.com reports.

RAIL has been the subject of several other reports. Wall Street Zen raised shares of Freightcar America from a "hold" rating to a "buy" rating in a report on Sunday, September 28th. Weiss Ratings raised shares of Freightcar America from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Freightcar America currently has an average rating of "Buy" and an average price target of $9.00.

Freightcar America Price Performance

Shares of RAIL stock opened at $10.05 on Tuesday. The firm has a market cap of $192.26 million, a P/E ratio of -14.36 and a beta of 2.19. Freightcar America has a 1-year low of $4.31 and a 1-year high of $16.10. The firm has a fifty day moving average of $9.04 and a two-hundred day moving average of $8.17.

Institutional Trading of Freightcar America

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Russell Investments Group Ltd. raised its position in shares of Freightcar America by 435.5% during the 1st quarter. Russell Investments Group Ltd. now owns 141,337 shares of the transportation company's stock worth $782,000 after buying an additional 114,945 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Freightcar America by 58.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 106,656 shares of the transportation company's stock worth $590,000 after purchasing an additional 39,506 shares in the last quarter. Walleye Capital LLC bought a new stake in shares of Freightcar America in the 1st quarter worth approximately $74,000. North Star Investment Management Corp. bought a new stake in shares of Freightcar America in the 2nd quarter worth approximately $1,498,000. Finally, Two Sigma Investments LP bought a new stake in shares of Freightcar America in the 4th quarter worth approximately $254,000. 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.

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