Wedge Capital Management L L P NC maintained its stake in Freightcar America Inc. (NASDAQ:RAIL) during the second quarter, Holdings Channel reports. The firm owned 67,400 shares of the company’s stock at the end of the second quarter. Wedge Capital Management L L P NC’s holdings in Freightcar America were worth $947,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Uniplan Investment Counsel Inc. increased its stake in Freightcar America by 0.3% in the first quarter. Uniplan Investment Counsel Inc. now owns 195,743 shares of the company’s stock valued at $3,050,000 after buying an additional 659 shares during the period. Eqis Capital Management Inc. boosted its position in Freightcar America by 11.3% in the second quarter. Eqis Capital Management Inc. now owns 12,269 shares of the company’s stock valued at $172,000 after buying an additional 1,245 shares in the last quarter. Menta Capital LLC boosted its position in Freightcar America by 32.5% in the first quarter. Menta Capital LLC now owns 15,070 shares of the company’s stock valued at $235,000 after buying an additional 3,700 shares in the last quarter. Springbank Value Partners LP boosted its position in Freightcar America by 29.6% in the first quarter. Springbank Value Partners LP now owns 17,500 shares of the company’s stock valued at $273,000 after buying an additional 4,000 shares in the last quarter. Finally, Value Holdings LP boosted its position in Freightcar America by 20.2% in the first quarter. Value Holdings LP now owns 41,600 shares of the company’s stock valued at $648,000 after buying an additional 7,000 shares in the last quarter. 76.29% of the stock is currently owned by institutional investors and hedge funds.
Freightcar America Inc. (NASDAQ:RAIL) traded up 1.48% during trading on Tuesday, reaching $13.73. 63,708 shares of the company’s stock were exchanged. The firm has a market capitalization of $170.07 million, a price-to-earnings ratio of 4.38 and a beta of 1.81. Freightcar America Inc. has a 52 week low of $12.56 and a 52 week high of $24.95. The stock has a 50-day moving average price of $14.09 and a 200 day moving average price of $14.55.
Freightcar America (NASDAQ:RAIL) last released its quarterly earnings data on Monday, August 1st. The company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by $0.47. Freightcar America had a return on equity of 10.87% and a net margin of 5.38%. The company had revenue of $126.20 million for the quarter, compared to analyst estimates of $163.43 million. During the same period in the previous year, the business posted $0.60 EPS. The firm’s revenue for the quarter was down 46.4% compared to the same quarter last year. Equities research analysts forecast that Freightcar America Inc. will post $0.60 earnings per share for the current fiscal year.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Freightcar America from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 5th. Stifel Nicolaus cut shares of Freightcar America from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Cowen and Company assumed coverage on shares of Freightcar America in a research note on Wednesday, June 22nd. They issued a “market perform” rating and a $15.00 target price for the company. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $17.67.
In related news, VP Matthew S. Kohnke acquired 7,500 shares of the business’s stock in a transaction on Thursday, August 11th. The shares were bought at an average price of $14.07 per share, with a total value of $105,525.00. Following the completion of the acquisition, the vice president now owns 2,100 shares in the company, valued at $29,547. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.10% of the company’s stock.
About Freightcar America
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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