Zacks Investment Research Upgrades Genesee & Wyoming Inc. (GWR) to “Buy”
Genesee & Wyoming Inc. (NYSE:GWR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday. The firm currently has a $75.00 price target on the stock. Zacks Investment Research’s target price points to a potential upside of 10.25% from the stock’s current price.
According to Zacks, “GENESEE & WYOMING owns and operates short line and regional freight railroads and provides related rail services. They operate in three business segments in two geographic areas: North American Railroad Operations, Australian Railroad Operations, and Industrial Switching. “
Separately, Credit Suisse Group AG reiterated a “buy” rating and issued a $73.00 target price (up previously from $70.00) on shares of Genesee & Wyoming in a research note on Tuesday, August 16th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Genesee & Wyoming presently has an average rating of “Buy” and a consensus target price of $71.00.
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Shares of Genesee & Wyoming (NYSE:GWR) traded down 0.58% during trading on Wednesday, reaching $68.03. 359,626 shares of the company traded hands. Genesee & Wyoming has a 12-month low of $41.56 and a 12-month high of $73.33. The firm’s 50-day moving average is $67.64 and its 200-day moving average is $63.50. The stock has a market capitalization of $3.95 billion, a PE ratio of 17.71 and a beta of 1.71.
Genesee & Wyoming (NYSE:GWR) last announced its quarterly earnings data on Monday, August 1st. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.78 by $0.15. The business had revenue of $501.40 million for the quarter, compared to analyst estimates of $490.50 million. Genesee & Wyoming had a net margin of 10.94% and a return on equity of 8.07%. The company’s revenue for the quarter was down 7.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.93 earnings per share. On average, equities analysts predict that Genesee & Wyoming will post $3.56 earnings per share for the current fiscal year.
In other Genesee & Wyoming news, General Counsel Allison M. Fergus sold 2,271 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $64.69, for a total value of $146,910.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider John C. Hellmann sold 12,976 shares of the business’s stock in a transaction that occurred on Thursday, August 25th. The stock was sold at an average price of $69.21, for a total transaction of $898,068.96. Following the completion of the transaction, the insider now directly owns 362,073 shares of the company’s stock, valued at approximately $25,059,072.33. The disclosure for this sale can be found here. 3.80% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in GWR. Lazard Asset Management LLC bought a new position in Genesee & Wyoming during the first quarter worth approximately $173,415,000. State Street Corp raised its stake in shares of Genesee & Wyoming by 3.5% in the first quarter. State Street Corp now owns 1,558,395 shares of the company’s stock worth $97,712,000 after buying an additional 53,016 shares during the last quarter. Motley Fool Wealth Management LLC raised its stake in shares of Genesee & Wyoming by 9.8% in the first quarter. Motley Fool Wealth Management LLC now owns 46,953 shares of the company’s stock worth $2,944,000 after buying an additional 4,183 shares during the last quarter. M&T Bank Corp raised its stake in shares of Genesee & Wyoming by 11.5% in the first quarter. M&T Bank Corp now owns 4,866 shares of the company’s stock worth $305,000 after buying an additional 502 shares during the last quarter. Finally, NN Investment Partners Holdings N.V. acquired a new stake in shares of Genesee & Wyoming during the first quarter worth $1,210,000. 98.10% of the stock is owned by institutional investors and hedge funds.
About Genesee & Wyoming
Genesee & Wyoming Inc owns and operates over 120 freight railroads across the world, which are organized in approximately 10 regions. The Company operates through three segments, which include North American Operations, Australian Operations and U.K./European Operations. In the United States, the Company has over eight regions, such as Central, Coastal (which includes industrial switching and port operations), Midwest, Mountain West (which includes industrial switching operations), Northeast, Ohio Valley, Pacific and Southern.
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