FreightCar America (NASDAQ:RAIL) Downgraded by StockNews.com to Hold

StockNews.com downgraded shares of FreightCar America (NASDAQ:RAIL) from a buy rating to a hold rating in a research report released on Tuesday morning.

FreightCar America Stock Performance

FreightCar America stock opened at $12.21 on Tuesday. The stock’s 50 day simple moving average is $10.45 and its two-hundred day simple moving average is $9.56. The stock has a market cap of $230.65 million, a price-to-earnings ratio of -2.88 and a beta of 1.96. FreightCar America has a fifty-two week low of $2.70 and a fifty-two week high of $16.10.

Insider Buying and Selling at FreightCar America

In other news, Director James R. Meyer acquired 23,400 shares of the business’s stock in a transaction on Thursday, November 14th. The shares were acquired at an average cost of $10.74 per share, with a total value of $251,316.00. Following the transaction, the director now owns 838,278 shares in the company, valued at $9,003,105.72. The trade was a 2.87 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 28.00% of the company’s stock.

Institutional Trading of FreightCar America

A number of hedge funds have recently made changes to their positions in RAIL. Quantbot Technologies LP bought a new stake in shares of FreightCar America in the 3rd quarter worth approximately $49,000. JPMorgan Chase & Co. boosted its position in shares of FreightCar America by 98.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,599 shares of the transportation company’s stock worth $50,000 after purchasing an additional 2,281 shares in the last quarter. Barclays PLC bought a new stake in shares of FreightCar America in the 3rd quarter worth approximately $73,000. Ritholtz Wealth Management bought a new stake in shares of FreightCar America in the 4th quarter worth approximately $104,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of FreightCar America by 24.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,932 shares of the transportation company’s stock worth $104,000 after purchasing an additional 5,880 shares in the last quarter. 31.96% of the stock is owned by institutional investors.

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.