The pandemic's over and inflation seems to be on the run. It's time for America to get rolling again. A glance at transportation giant Greenbrier indicates that's happening. On Monday the IBD Relative Strength (RS) Rating for highly ranked Greenbrier stock jumped to 83, up from 76 last week.
Greenbrier Stock Joins Top Echelon
The upgraded 83 RS Rating puts Greenbrier stock into the top 17% of all stocks for price appreciation this past year. Decades of market research show that the best stocks tend to have an 80 or higher RS Rating as they launch their biggest price moves.
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Greenbrier reported a 53% surge in earnings in its latest quarterly report, to 92 cents per share, on a 7% rise in revenue to $1.02 billion. Greenbrier has had an outstanding year in terms of profit growth. It reversed from an 84% drop in EPS in the final quarter of 2022 to grow 161% in the first quarter this year, then 1,133% and then a milder though still strong 53% last quarter.
Greenbrier made and delivered nearly 20,000 railcars globally last year. In fact, it says it's built 40% of all the railcars used in the U.S. It not only sells railcars, it manages 400,000 for railroads and leases about 12,000.
Among its other key ratings Greenbrier stock has an 86 Composite Rating out of 99, putting it in the top 14% of all stocks on a group of fundamental and technical metrics. It Earnings Per Share Rating is 79, pulled down by its 2022 numbers. Look for that to improve. Its B- Accumulation/Distribution Rating shows that funds are buying more of its shares than selling.
51% Share Price Rise Since May
Greenbrier stock is working on a consolidation with a 48.21 buy point. See if it can break out in volume at least 40% higher than normal. It bottomed at 25.41 on May 4 this year and rose as high as 48.21 in August before consolidating. On Monday it was up 1.2% for the day at 38.32, up about 51% from the May low.
Greenbrier stock earns the No. 2 rank among its peers in the Transportation-Equipment Manufacturing industry group. Wabtec and Twin Disc are also among the group's highest-rated stocks.
When researching the best stocks to buy and watch, a stock's price strength vs. other stocks says a lot about whether it's worth watching and buying.
The exclusive Relative Strength Rating from Investor's Business Daily tracks market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
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