NEW YORK (TheStreet) -- Greenbrier Companies (GBX) stock is gaining Thursday after announcing it has received awards from multiple customers for construction of 7,700 railcars, orders which total $960 million. The company also said it has received strong interest from customers in its retrofit of pre-2011 built tank cars.
"Greenbrier expects that GBW Railcar Services, its recently announced repair, refurbishment and maintenance joint venture with Watco Companies, will benefit from substantial maintenance and retrofit awards when the joint venture begins operation later this year," the company said in a statement.
By early afternoon, shares had climbed 2.9% to $60.39. Year to date, the stock is up 83.8%.
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Separately, TheStreet Ratings team rates GREENBRIER COMPANIES INC as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate GREENBRIER COMPANIES INC (GBX) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, solid stock price performance and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."