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Freightcar America (RAIL) shares soared 10.7% in the last trading session to close at $14.09. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 27.9% gain over the past four weeks.
FreightCar America shares have performed exceedingly well this year, gaining almost 400% year to date. This fast-growing company has secured major orders of late and increased production capacity. Owing to the bullishness, Noble Financial recently maintained a buy rating on the stock.
This rail car maker is expected to post quarterly earnings of $0.06 per share in its upcoming report, which represents a year-over-year change of +142.9%. Revenues are expected to be $139.96 million, up 126.1% from the year-ago quarter.
While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.
For Freightcar America, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RAIL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Freightcar America is a member of the Zacks Transportation - Equipment and Leasing industry. One other stock in the same industry, Air Lease (AL), finished the last trading session 0.7% higher at $44.25. AL has returned -2.3% over the past month.
For Air Lease , the consensus EPS estimate for the upcoming report has changed -1.2% over the past month to $1.22. This represents a change of +10.9% from what the company reported a year ago. Air Lease currently has a Zacks Rank of #3 (Hold).
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Freightcar America, Inc. (RAIL) : Free Stock Analysis Report
Air Lease Corporation (AL) : Free Stock Analysis Report