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

Key Points

• Freightcar America has been upgraded from a "hold" to a "buy" rating by Wall Street Zen, indicating a positive outlook for the company’s stock.
• The stock opened at $9.49 and has fluctuated between a 52-week low of $4.31 and a high of $16.10.
• Institutional investors have significantly increased their holdings, with notable increases including a 435.5% increase by Russell Investments Group Ltd. in the first quarter.

Freightcar America (NASDAQ:RAIL - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Sunday.

Freightcar America Stock Up 0.3%

Shares of RAIL opened at $9.49 on Friday. Freightcar America has a 52-week low of $4.31 and a 52-week high of $16.10. The firm's fifty day moving average is $9.25 and its two-hundred day moving average is $8.01. The stock has a market cap of $181.54 million, a PE ratio of -13.56 and a beta of 1.95.

Institutional Investors Weigh In On Freightcar America

Several large investors have recently modified their holdings of RAIL. Marshall Wace LLP lifted its holdings in Freightcar America by 12.2% in the second quarter. Marshall Wace LLP now owns 238,331 shares of the transportation company's stock valued at $2,054,000 after acquiring an additional 25,895 shares during the period. North Star Investment Management Corp. acquired a new stake in Freightcar America in the second quarter valued at $1,498,000. Russell Investments Group Ltd. lifted its holdings in Freightcar America by 435.5% in the first quarter. Russell Investments Group Ltd. now owns 141,337 shares of the transportation company's stock valued at $782,000 after acquiring an additional 114,945 shares during the period. Millennium Management LLC lifted its holdings in Freightcar America by 170.7% in the fourth quarter. Millennium Management LLC now owns 140,108 shares of the transportation company's stock valued at $1,255,000 after acquiring an additional 88,356 shares during the period. Finally, Jane Street Group LLC lifted its holdings in Freightcar America by 13.1% in the first quarter. Jane Street Group LLC now owns 108,724 shares of the transportation company's stock valued at $601,000 after acquiring an additional 12,610 shares during the period. 31.96% of the stock is owned by institutional investors and hedge funds.

About Freightcar America

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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