FreightCar America (RAIL) was Downgraded by Stifel to ” Hold”. Earlier the firm had a rating of “Buy ” on the company shares. Stifel advised their investors in a research report released on Jul 13, 2016.
Many Wall Street Analysts have commented on FreightCar America. Cowen Initiated FreightCar America on Jun 22, 2016 to “Market Perform”, Price Target of the shares are set at $15.FreightCar America was Downgraded by Longbow to ” Neutral” on May 4, 2016. Shares were Reiterated by Stifel on May 4, 2016 to “Buy” and Lowered the Price Target to $ 17 from a previous price target of $20 .
On the company’s financial health, FreightCar America reported $0.96 EPS for the quarter, beating the analyst consensus estimate by $ 0.18 according to the earnings call on Nov 2, 2015. Analyst had a consensus of $0.78. The company had revenue of $241.11 million for the quarter, compared to analysts expectations of $258.05 million. The company’s revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.53 EPS.
FreightCar America opened for trading at $14.7 and hit $15.21 on the upside on Monday, eventually ending the session at $15.14, with a gain of 3.49% or 0.51 points. The heightened volatility saw the trading volume jump to 1,27,647 shares. Company has a market cap of $187 M.
In a different news, on Mar 1, 2016, Joseph E Mcneely (CEO) purchased 6,686 shares at $14.88 per share price. According to the SEC, on May 27, 2015, Joseph J Maliekel (VP, Corp Controller and PAO) purchased 1,000 shares at $22.31 per share price. On May 7, 2015, Charles F Jr Avery (CFO) purchased 425 shares at $23.75 per share price, according to the Form-4 filing with the securities and exchange commission.
FreightCar America Inc. is engaged in manufacturing of aluminum-bodied railcars in North America. The Company is also a manufacturer of coal cars. The Company also refurbishes and rebuilds railcars and sells forged cast and fabricated parts for all of the railcars it produces as well as those manufactured by others. It offers railcar leasing and refurbishment alternatives to its customers. Through its newly formed subsidiary FreightCar Rail Services LLC (FCRS) it provides railcar repair and maintenance inspections and railcar fleet management services for all types of freight railcars. Its railcar manufacturing facilities are located in Danville Illinois and Roanoke Virginia. The Company operates in two segments: Manufacturing which includes new railcar manufacturing used railcar sales railcar leasing and railcar rebuilds and Services which includes general railcar repair and maintenance inspections parts sales and railcar fleet management services.