Freightcar America (NASDAQ:RAIL) Stock Passes Above 200 Day Moving Average - Here's What Happened
Freightcar America (NASDAQ:RAIL) stock has surpassed its 200-day moving average of $8.32, trading at $9.93 with a volume of 107,847 shares. Analysts have upgraded the stock's ratings, with Weiss Ratings moving it from "sell" to "hold," Zacks from "hold" to "strong-buy," and Wall Street Zen from "hold" to "buy." The stock has a consensus rating of "Buy" and a target price of $9.00. The company reported a revenue of $85.74 million and a negative earnings per share of ($0.21) for the last quarter.
Freightcar America, Inc. (NASDAQ:RAIL - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $8.32 and traded as high as $10.06. Freightcar America shares last traded at $9.93, with a volume of 107,847 shares changing hands.
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Wall Street Analysts Forecast Growth
- FreightCar America Finally Gets On Track
Several research analysts recently issued reports on the company. Weiss Ratings raised Freightcar America from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Wednesday, October 8th. Zacks Research raised Freightcar America from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 7th. Finally, Wall Street Zen raised Freightcar America from a "hold" rating to a "buy" rating in a research report on Sunday, September 28th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $9.00.
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Freightcar America Stock Up 0.7%
- FreightCar America, Inc. Is About To Leave The Station
The company has a 50-day simple moving average of $9.02 and a two-hundred day simple moving average of $8.32. The firm has a market cap of $189.96 million, a PE ratio of -14.19 and a beta of 2.19.
Freightcar America (NASDAQ:RAIL - Get Free Report) last posted its quarterly earnings data on Wednesday, January 17th. The transportation company reported ($0.21) earnings per share for the quarter. Freightcar America had a negative return on equity of 14.89% and a negative net margin of 2.21%.The business had revenue of $85.74 million during the quarter. As a group, equities analysts predict that Freightcar America, Inc. will post 0.09 earnings per share for the current year.
Institutional Inflows and Outflows
- Freight Car America Gets Derailed
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Squarepoint Ops LLC boosted its position in Freightcar America by 24.6% in the second quarter. Squarepoint Ops LLC now owns 70,033 shares of the transportation company's stock worth $604,000 after purchasing an additional 13,825 shares during the last quarter. Marex Group plc purchased a new position in shares of Freightcar America during the 2nd quarter valued at $172,000. State of Wyoming purchased a new position in shares of Freightcar America during the 2nd quarter valued at $63,000. Man Group plc lifted its position in shares of Freightcar America by 38.5% during the 2nd quarter. Man Group plc now owns 88,158 shares of the transportation company's stock valued at $760,000 after buying an additional 24,515 shares during the last quarter. Finally, Raymond James Financial Inc. lifted its position in shares of Freightcar America by 24.7% during the 2nd quarter. Raymond James Financial Inc. now owns 20,545 shares of the transportation company's stock valued at $177,000 after buying an additional 4,067 shares during the last quarter. Hedge funds and other institutional investors own 31.96% of the company's stock.
Freightcar America Company Profile
(Get Free Report)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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