AMERICAN RAILCAR: Stock is downgraded
Written on March 20, 2008
Shares of St. Charles-based American Railcar Industries Inc. fell 5 percent Tuesday after an analyst downgraded the stock to a "sell" rating from "neutral."
In a research note, UBS analyst Jason Feldman wrote that the railcar industry is likely to struggle due to excess capacity and declining sales volume. This could increase competition and lower prices for several railcar types payday loan.
The company’s stock fell as much as 13 percent, or $2.82, to $18.92 in trading Tuesday morning on the Nasdaq Stock Exchange before mostly recovering to close at $20.61, down 5 percent, or $1.13.
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