Greenbrier Companies Given “Buy” Rating at DA Davidson (GBX)
Greenbrier Companies (NYSE:GBX)‘s stock had its “buy” rating reaffirmed by equities research analysts at DA Davidson in a research note issued to investors on Thursday. They currently have a $75.00 price objective on the stock, up from their previous price objective of $65.00. DA Davidson’s target price would indicate a potential upside of 16.08% from the company’s current price.
The analysts wrote, “Greenbrier reported FQ3 EPS of $1.03, well above our estimate of $0.70. The tax rate was lower than we had modeled (26.3% vs. 34% expected) due to higher JV income. Revenues of $593 million beat our estimate of $551 million. Gross margin of 16.3% (+478bp year-over-year) was driven by product mix and higher production rates in lower cost facilities (Mexico). The company delivered 4,300 units vs. 3,900 in our model. Management expressed confidence in the sustainability of margins with further, non-liner improvements expected.”
Greenbrier Companies (NYSE:GBX) opened at 64.61 on Thursday. Greenbrier Companies has a 1-year low of $21.10 and a 1-year high of $62.96. The stock has a 50-day moving average of $55.84 and a 200-day moving average of $44.92. The company’s market cap is $1.782 billion.
Greenbrier Companies (NYSE:GBX) last issued its quarterly earnings data on Wednesday, July 2nd. The company reported $1.03 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.74 by $0.29. The company had revenue of $593.30 million for the quarter, compared to the consensus estimate of $570.74 million. During the same quarter last year, the company posted $0.50 earnings per share. Greenbrier Companies’s revenue was up 36.8% compared to the same quarter last year. On average, analysts predict that Greenbrier Companies will post $2.61 earnings per share for the current fiscal year.
A number of other firms have also recently commented on GBX. Analysts at Zacks upgraded shares of Greenbrier Companies from a “neutral” rating to an “outperform” rating in a research note on Tuesday, June 24th. They now have a $61.10 price target on the stock. Separately, analysts at KeyCorp set a $64.00 price target on shares of Greenbrier Companies in a research note on Monday, June 16th. They now have a “buy” rating on the stock. Finally, analysts at Bank of America reiterated a “buy” rating on shares of Greenbrier Companies in a research note on Thursday, June 5th. They now have a $65.00 price target on the stock, up previously from $63.00. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $58.44.
The Greenbrier Companies, Inc (NYSE:GBX), formerly Greenbrier Oregon, Inc, are the designers, manufacturers and marketers of railroad freight car equipment in North America and Europe, a manufacturer and marketer of ocean-going marine barges in North America and a provider of wheel services, railcar refurbishment and parts, leasing and other services to the railroad and related transportation industries in North America.
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