FreightCar America (RAIL) was Initiated by Cowen to “Market Perform” and the brokerage firm has set the Price Target at $15. Cowen advised their investors in a research report released on Jun 22, 2016.
Many Wall Street Analysts have commented on FreightCar America. 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 closed down -0.23 points or -1.57% at $14.38 with 1,08,754 shares getting traded on Monday. Post opening the session at $14.8, the shares hit an intraday low of $14.37 and an intraday high of $14.98 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
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.