Shares of FreightCar America, Inc. (NASDAQ:RAIL) shot up 5% during mid-day trading on Tuesday . The company traded as high as $1.67 and last traded at $1.67, 100,231 shares changed hands during mid-day trading. A decline of 12% from the average session volume of 114,454 shares. The stock had previously closed at $1.59.
A number of brokerages have recently weighed in on RAIL. Buckingham Research set a $3.50 target price on shares of FreightCar America and gave the company a “hold” rating in a research note on Friday, November 1st. Zacks Investment Research raised shares of FreightCar America from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine raised shares of FreightCar America from a “hold” rating to a “buy” rating in a research note on Friday, January 3rd. Finally, Cowen cut their target price on shares of FreightCar America from $6.00 to $4.50 and set a “market perform” rating on the stock in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. FreightCar America currently has a consensus rating of “Hold” and an average price target of $5.19.
The firm’s 50 day moving average is $1.89 and its 200 day moving average is $3.42. The firm has a market cap of $20.18 million, a P/E ratio of -0.23 and a beta of 1.25. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.14 and a quick ratio of 1.24.
Several hedge funds and other institutional investors have recently modified their holdings of RAIL. Parthenon LLC lifted its stake in shares of FreightCar America by 76.2% in the fourth quarter. Parthenon LLC now owns 252,512 shares of the transportation company’s stock worth $523,000 after buying an additional 109,200 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of FreightCar America by 604.0% during the second quarter. Renaissance Technologies LLC now owns 88,000 shares of the transportation company’s stock valued at $517,000 after purchasing an additional 75,500 shares during the last quarter. Morgan Stanley raised its holdings in shares of FreightCar America by 791.4% during the second quarter. Morgan Stanley now owns 29,070 shares of the transportation company’s stock valued at $171,000 after purchasing an additional 25,809 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of FreightCar America during the second quarter valued at approximately $92,000. Finally, Citadel Advisors LLC purchased a new position in shares of FreightCar America during the second quarter valued at approximately $80,000. Hedge funds and other institutional investors own 68.80% of the company’s stock.
About FreightCar America (NASDAQ:RAIL)
FreightCar America, Inc, through its subsidiaries, designs, manufactures, and sells railcars for the transportation of bulk commodities and containerized freight products primarily in North America. It operates through two segments, Manufacturing and Parts. The company offers a range of freight cars, including open top hoppers, covered hoppers, and gondolas; intermodal flats, such as well cars; and non-intermodal flat cars comprising slab, hot slab, ribbon rail, and bulkhead flats.
