FreightCar America (NASDAQ:RAIL) Raised to Strong-Buy at Noble Financial

Noble Financial upgraded shares of FreightCar America (NASDAQ:RAIL) to a strong-buy rating in a research note published on Friday morning, Zacks.com reports.

Separately, StockNews.com began coverage on FreightCar America in a research note on Thursday, March 21st. They set a hold rating on the stock.

FreightCar America Stock Performance

Shares of RAIL opened at $3.49 on Friday. FreightCar America has a one year low of $2.25 and a one year high of $4.26. The stock has a market capitalization of $65.30 million, a price-to-earnings ratio of -2.27 and a beta of 1.93. The stock has a 50 day moving average price of $3.66 and a 200 day moving average price of $3.27.

FreightCar America (NASDAQ:RAIL) last issued its earnings results on Wednesday, May 8th. The transportation company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $161.06 million during the quarter. FreightCar America had a negative return on equity of 20.71% and a negative net margin of 6.88%. On average, analysts predict that FreightCar America will post 0.17 earnings per share for the current year.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in FreightCar America stock. Vanguard Group Inc. lifted its holdings in FreightCar America, Inc. (NASDAQ:RAIL) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 584,292 shares of the transportation company’s stock after buying an additional 26,412 shares during the quarter. Vanguard Group Inc. owned 3.19% of FreightCar America worth $2,250,000 as of its most recent SEC filing. 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.