Greenbrier (GBX) CEO and Chairman was active buying stock this week on both 2/9 and 2/10 adding 50,000 shares between $43 and $43.80, a more than $2M buy. GBX shares have traded well recently and up 26% so far in 2021 after a doubling off the May lows in 2020. The $1.46B company trades 21X earnings, 0.60X sales, and 2X cash with a 2.35% yield and high-single digit growth. GBX manufactures railroad freight cars and equipment including both repair and parts and leasing. They’ve been growing their TAM through expansion into areas like Europe, Turkey, and Brazil. GBX has been winning market share with a strong backlog and visibility into the future, over 47% of total railcar orders at the end of 2020 were for GBX vs peers like TRN and RAIL. GBX sees long-term drivers from environmental concerns that favor fuel-efficient transportation, driver shortages for trucking becoming constraining, and pent up demand in Europe due to a big upcoming replacement cycle. Analysts have an average target for shares of $32 with limited coverage. Wells Fargo went from Underweight to Overweight in December citing an improved macro environment that will prompt increased rail volumes and railcar demand and technology will also be a major theme, as both rails and equipment owners will attempt to grow much needed market share. Short interest is 12% and up from around 4.5% in December 2019. Hedge fund ownership rose 6.5% in Q3.