Cowen & Company Initiates Coverage on FreightCar America to Market Perform

Cowen & Company Initiates Coverage on FreightCar America(NASDAQ:RAIL). The shares have been rated Market Perform. The rating by Cowen & Company was issued on Jun 22, 2016.

In a different note, On May 4, 2016, Longbow Research said it Downgrades its rating on FreightCar America. The shares have been rated ‘Neutral’ by the firm.

FreightCar America (RAIL) shares turned negative on Mondays trading session with the shares closing down -0.69 points or -5.01% at a volume of 3,08,841. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $13.63. The peak price level was also seen at $13.63 while the days lowest was $12.85. Finally the shares closed at $13.09. The 52-week high of the shares is $24.95 while the 52-week low is $12.85. According to the latest information available, the market cap of the company is $162 M.

FreightCar America(RAIL) last announced its earnings results on May 2, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $148.59M. Analysts had an estimated revenue of $153.38M. Earnings per share were $0.28. Analysts had estimated an EPS of $0.43.

Several Insider Transactions has been reported to the SEC. On Mar 1, 2016, Joseph E Mcneely (CEO) purchased 6,686 shares at $14.88 per share price.Also, 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.

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