Prudential Financial Inc. increased its stake in Freightcar America Inc. (NASDAQ:RAIL) by 247.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 269,542 shares of the company’s stock after buying an additional 191,952 shares during the period. Prudential Financial Inc. owned about 2.18% of Freightcar America worth $3,788,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in the company. Boston Partners increased its stake in Freightcar America by 27.2% in the second quarter. Boston Partners now owns 1,384,881 shares of the company’s stock valued at $19,457,000 after buying an additional 296,441 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Freightcar America by 10.0% in the second quarter. Dimensional Fund Advisors LP now owns 873,885 shares of the company’s stock valued at $12,278,000 after buying an additional 79,728 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Freightcar America by 117,414.2% in the first quarter. JPMorgan Chase & Co. now owns 498,260 shares of the company’s stock valued at $7,764,000 after buying an additional 497,836 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in Freightcar America during the second quarter valued at $6,320,000. Finally, Royce & Associates LP increased its stake in Freightcar America by 71.4% in the second quarter. Royce & Associates LP now owns 422,269 shares of the company’s stock valued at $5,933,000 after buying an additional 175,869 shares in the last quarter. 76.29% of the stock is currently owned by institutional investors.
Shares of Freightcar America Inc. (NASDAQ:RAIL) opened at 13.63 on Wednesday. The stock has a market capitalization of $168.83 million, a P/E ratio of 4.35 and a beta of 1.81. The stock has a 50 day moving average of $14.06 and a 200 day moving average of $14.54. Freightcar America Inc. has a 12-month low of $12.56 and a 12-month high of $24.95.
Freightcar America (NASDAQ:RAIL) last posted its quarterly earnings data on Monday, August 1st. The company reported ($0.04) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.47. Freightcar America had a net margin of 5.38% and a return on equity of 10.87%. The business earned $126.20 million during the quarter, compared to analysts’ expectations of $163.43 million. During the same period in the previous year, the business posted $0.60 EPS. The company’s revenue for the quarter was down 46.4% compared to the same quarter last year. Equities research analysts anticipate that Freightcar America Inc. will post $0.60 EPS for the current fiscal year.
Several analysts have weighed in on RAIL shares. Stifel Nicolaus downgraded shares of Freightcar America from a “buy” rating to a “hold” rating in a research report on Wednesday, July 13th. Cowen and Company started coverage on shares of Freightcar America in a research report on Wednesday, June 22nd. They set a “market perform” rating and a $15.00 target price on the stock. Finally, Zacks Investment Research downgraded shares of Freightcar America from a “hold” rating to a “strong sell” rating in a research report on Friday, August 5th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Freightcar America presently has a consensus rating of “Hold” and a consensus price target of $17.67.
In other Freightcar America news, VP Matthew S. Kohnke acquired 7,500 shares of the stock in a transaction dated Thursday, August 11th. The stock was acquired at an average price of $14.07 per share, with a total value of $105,525.00. Following the completion of the purchase, the vice president now owns 2,100 shares in the company, valued at approximately $29,547. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.10% of the stock is currently owned by insiders.
Freightcar America Company Profile
FreightCar America, Inc is a manufacturer of railcars and railcar components. The Company operates in the Manufacturing segment. The Company designs and manufactures a range of railcar types for transportation of bulk commodities and containerized freight products primarily in North America, including open top hoppers, covered hoppers, and gondolas along with intermodal and non-intermodal flat cars.
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