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

Key Points

• Freightcar America has been upgraded to a "buy" rating by Wall Street Zen, changing its previous "hold" status.
• Northcoast Research has also initiated coverage with a "buy" rating and a price target of $9.00.
• Insider Celia Perez sold a significant portion of shares, decreasing her ownership by 13.69%, while company insiders collectively hold 28.70% of the stock.

Wall Street Zen upgraded shares of Freightcar America (NASDAQ:RAIL - Free Report) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Separately, Northcoast Research began coverage on shares of Freightcar America in a report on Thursday, May 1st. They issued a "buy" rating and a $9.00 price objective for the company.

Freightcar America Stock Up 3.4%

Shares of Freightcar America stock traded up $0.31 during trading on Friday, reaching $9.39. 158,459 shares of the stock were exchanged, compared to its average volume of 230,316. The stock's fifty day moving average is $9.63 and its 200 day moving average is $8.29. The firm has a market cap of $179.63 million, a price-to-earnings ratio of -13.41 and a beta of 1.85. Freightcar America has a 1 year low of $3.82 and a 1 year high of $16.10.

Insider Activity

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

Institutional Investors Weigh In On Freightcar America

A number of large investors have recently added to or reduced their stakes in the stock. Mechanics Financial Corp purchased a new position in shares of Freightcar America during the 1st quarter worth $55,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Freightcar America during the 1st quarter valued at $61,000. Walleye Capital LLC purchased a new stake in Freightcar America in the 1st quarter worth $74,000. Pacific Wealth Strategies Group Inc. purchased a new stake in Freightcar America in the 2nd quarter worth $87,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Freightcar America in the 1st quarter worth about $88,000. Institutional investors own 31.96% of the company's stock.

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.