FreightCar America (NASDAQ:RAIL) Upgraded at StockNews.com

StockNews.com upgraded shares of FreightCar America (NASDAQ:RAIL) from a hold rating to a buy rating in a report issued on Wednesday morning.

FreightCar America Stock Down 4.7 %

NASDAQ:RAIL opened at $9.90 on Wednesday. The company has a market cap of $187.01 million, a PE ratio of -2.33 and a beta of 2.00. The business’s 50 day moving average is $11.81 and its two-hundred day moving average is $6.78. FreightCar America has a 52 week low of $2.25 and a 52 week high of $16.10.

Insiders Place Their Bets

In related news, Director William D. Gehl sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $10.83, for a total value of $108,300.00. Following the sale, the director now owns 147,608 shares of the company’s stock, valued at approximately $1,598,594.64. This trade represents a 6.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Nigris Felan Jose De acquired 4,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $10.19 per share, with a total value of $40,760.00. Following the completion of the purchase, the director now owns 73,147 shares in the company, valued at $745,367.93. The trade was a 5.78 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 28.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On FreightCar America

Several hedge funds and other institutional investors have recently modified their holdings of the company. Quantbot Technologies LP bought a new position in FreightCar America in the 3rd quarter worth about $49,000. Barclays PLC acquired a new position in shares of FreightCar America during the third quarter worth approximately $73,000. XTX Topco Ltd bought a new position in FreightCar America in the 3rd quarter worth approximately $247,000. Dimensional Fund Advisors LP grew its holdings in 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 buying an additional 5,880 shares in the last quarter. Finally, Centiva Capital LP acquired a new position in FreightCar America during the 3rd quarter worth $453,000. Institutional investors and hedge funds own 31.96% of the company’s stock.

FreightCar America Company Profile

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.