Freightcar America (NASDAQ:RAIL) Announces Quarterly Earnings Results

Freightcar America (NASDAQ:RAILGet Free Report) issued its quarterly earnings data on Monday. The transportation company reported ($0.02) earnings per share (EPS) for the quarter, FiscalAI reports. Freightcar America had a negative return on equity of 15.56% and a net margin of 6.25%.The firm had revenue of $113.14 million for the quarter, compared to the consensus estimate of $110.41 million.

Freightcar America Stock Up 3.4%

Shares of RAIL traded up $0.27 during trading hours on Monday, hitting $8.24. 226,817 shares of the company were exchanged, compared to its average volume of 197,404. Freightcar America has a fifty-two week low of $7.27 and a fifty-two week high of $14.90. The company has a market cap of $157.71 million, a price-to-earnings ratio of 11.14 and a beta of 1.48. The firm’s fifty day moving average is $8.35 and its 200 day moving average is $9.57.

Analysts Set New Price Targets

RAIL has been the topic of a number of recent research reports. Zacks Research lowered Freightcar America from a “hold” rating to a “strong sell” rating in a research note on Tuesday, July 14th. Weiss Ratings restated a “hold (c)” rating on shares of Freightcar America in a research note on Friday, June 5th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Reduce”.

Check Out Our Latest Research Report on Freightcar America

Hedge Funds Weigh In On Freightcar America

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Marshall Wace LLP boosted its stake in Freightcar America by 92.4% in the fourth quarter. Marshall Wace LLP now owns 446,420 shares of the transportation company’s stock valued at $4,942,000 after buying an additional 214,397 shares in the last quarter. Walleye Capital LLC boosted its position in Freightcar America by 907.4% in the fourth quarter. Walleye Capital LLC now owns 170,830 shares of the transportation company’s stock valued at $1,891,000 after buying an additional 153,872 shares in the last quarter. Essex Investment Management Co. LLC grew its stake in shares of Freightcar America by 68.7% during the fourth quarter. Essex Investment Management Co. LLC now owns 346,144 shares of the transportation company’s stock worth $3,832,000 after buying an additional 140,946 shares during the last quarter. Millennium Management LLC grew its stake in shares of Freightcar America by 161.9% during the fourth quarter. Millennium Management LLC now owns 153,172 shares of the transportation company’s stock worth $1,696,000 after buying an additional 94,694 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of Freightcar America during the second quarter worth $813,000. 31.96% of the stock is currently owned by institutional investors and hedge funds.

Freightcar America Company Profile

(Get Free Report)

FreightCar America, Inc is a designer and manufacturer of specialized railroad freight cars, offering a diverse range of products that include tank cars, open and covered hoppers, gondolas, boxcars and centerbeam lumber cars. The company supports both new car construction and the rebuilding of existing fleets, providing custom engineering solutions to meet customer specifications and industry regulations. FreightCar America also supplies aftermarket parts, maintenance services and component remanufacturing for its own fleet and for third-party car owners.

Headquartered in Chicago, Illinois, FreightCar America traces its origins to early 20th-century railcar builders and began trading as an independent, publicly-listed company on the NASDAQ under the ticker RAIL following a spin-off in 2010.

See Also

Earnings History for Freightcar America (NASDAQ:RAIL)

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