American Railcar Industries (NASDAQ:ARII) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Wednesday.
According to Zacks, “American Railcar Industries, Inc. is a leading North American manufacturer of covered hopper and tank railcars. ARI also repairs and refurbishes railcars, provides fleet management services and designs and manufactures railcar and industrial components used in the production of its railcars as well as railcars and non-railcar industrial products produced by others. “
A number of other equities research analysts have also issued reports on ARII. BidaskClub upgraded American Railcar Industries from a “hold” rating to a “buy” rating in a research note on Saturday, July 7th. ValuEngine upgraded American Railcar Industries from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. TheStreet upgraded American Railcar Industries from a “c+” rating to a “b” rating in a research report on Wednesday, July 25th. Stifel Nicolaus set a $43.00 target price on American Railcar Industries and gave the stock a “hold” rating in a research report on Thursday, August 2nd. Finally, Buckingham Research increased their price objective on shares of American Railcar Industries from $42.00 to $70.00 and gave the company a “neutral” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $49.75.
American Railcar Industries (NASDAQ:ARII) last issued its quarterly earnings results on Wednesday, August 1st. The transportation company reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.15). American Railcar Industries had a return on equity of 5.95% and a net margin of 27.70%. The business had revenue of $146.50 million during the quarter, compared to analysts’ expectations of $129.41 million. During the same quarter in the previous year, the company posted $0.57 EPS. The company’s quarterly revenue was up 34.4% on a year-over-year basis. As a group, research analysts predict that American Railcar Industries will post 2.38 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northpointe Capital LLC purchased a new position in shares of American Railcar Industries during the third quarter valued at about $5,040,000. Renaissance Technologies LLC purchased a new position in shares of American Railcar Industries during the second quarter valued at about $1,836,000. Millennium Management LLC purchased a new position in shares of American Railcar Industries during the second quarter valued at about $1,691,000. Cornerstone Wealth Management LLC purchased a new position in shares of American Railcar Industries during the second quarter valued at about $509,000. Finally, BlackRock Inc. grew its position in shares of American Railcar Industries by 3.4% during the second quarter. BlackRock Inc. now owns 501,709 shares of the transportation company’s stock valued at $19,806,000 after purchasing an additional 16,270 shares in the last quarter. 91.56% of the stock is owned by institutional investors.
American Railcar Industries Company Profile
American Railcar Industries, Inc, together with its subsidiaries, designs and manufactures hopper and tank railcars in North America. It operates through three segments: Manufacturing, Railcar Leasing, and Railcar Services. The Manufacturing segment manufactures hopper railcars for shipping various dry bulk products, such as plastic pellets, as well as high-density products, including cement and sand; pressure tank railcars for transporting products comprising chlorine, anhydrous ammonia, liquid propane, and butane; and other types of railcars.
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