American Railcar Industries Inc. (NASDAQ:ARII) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued 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. “
Several large investors recently modified their holdings of the stock. BlackRock Group LTD boosted its stake in shares of American Railcar Industries by 83.4% in the first quarter. BlackRock Group LTD now owns 3,135 shares of the company’s stock worth $128,000 after buying an additional 1,426 shares in the last quarter. Magnetar Financial LLC raised its position in American Railcar Industries by 4.8% in the first quarter. Magnetar Financial LLC now owns 7,965 shares of the company’s stock worth $324,000 after buying an additional 368 shares during the last quarter. Wellington Management Group LLP purchased a new position in American Railcar Industries during the first quarter worth about $351,000. Nisa Investment Advisors LLC purchased a new position in American Railcar Industries during the second quarter worth about $395,000. Finally, MSI Financial Services Inc raised its position in American Railcar Industries by 6,847.6% in the second quarter. MSI Financial Services Inc now owns 11,672 shares of the company’s stock worth $461,000 after buying an additional 11,504 shares during the last quarter.
American Railcar Industries (NASDAQ:ARII) last posted its earnings results on Thursday, April 28th. The company reported $1.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by $0.19. The business earned $176.20 million during the quarter, compared to the consensus estimate of $200.27 million. The business’s revenue was down 33.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.64 EPS. On average, equities analysts forecast that American Railcar Industries will post $4.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Investors of record on Friday, June 17th were paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 4.14%. The ex-dividend date of this dividend was Wednesday, June 15th.
A number of other research firms have also recently issued reports on ARII. TheStreet upgraded American Railcar Industries from a “hold” rating to a “buy” rating in a research note on Monday, April 18th. Standpoint Research reiterated a “buy” rating on shares of American Railcar Industries in a research note on Wednesday. Finally, Cowen and Company assumed coverage on American Railcar Industries in a research note on Wednesday, June 22nd. They issued a “market perform” rating and a $40.00 target price on the stock. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. American Railcar Industries has a consensus rating of “Hold” and an average price target of $40.67.
American Railcar Industries, Inc is a designer and manufacturer of hopper and tank railcars. The Company designs manufactures and sells customized and general-purpose railcars and a range of components for the North American railcar and industrial markets. It operates in three segments: manufacturing, railcar leasing and railcar services.
