Zacks Investment Research upgraded shares of Textainer Group (NYSE:TGH) from a hold rating to a buy rating in a research note published on Friday. Zacks Investment Research currently has $13.00 price objective on the transportation company’s stock.
According to Zacks, “TEXTAINER GROUP is the worlds largest lessor of intermodal containers with a total fleet of more than 1.3 million containers, representing over 2,000,000 TEU. They lease containers to more than 400 shipping lines and other lessees, including each of the world’s top 20 container lines. Yhey are also the primary supplier of leased containers to the U.S. Military. Their goal is to be the most reliable lessor of containers in locations where their customers need them. They have provided an average of more than 100,000 TEU of new containers per year for the past 10 years, and have been one of the largest purchasers of new containers among container lessors over the same period. They are also one of the largest sellers of used containers , having sold an average of more than 53,000 containers per year for the last five years. “
Several other research firms have also issued reports on TGH. Wells Fargo & Co lowered shares of Textainer Group from a market perform rating to an underperform rating and set a $11.00 target price for the company. in a report on Friday, September 28th. Cowen reiterated an outperform rating and set a $20.00 target price (down from $22.00) on shares of Textainer Group in a report on Monday, November 5th. TheStreet lowered shares of Textainer Group from a c rating to a d+ rating in a report on Friday, November 2nd. Finally, ValuEngine upgraded shares of Textainer Group from a strong sell rating to a sell rating in a report on Friday, January 4th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. Textainer Group has a consensus rating of Hold and a consensus target price of $16.40.
Shares of TGH opened at $12.08 on Friday. Textainer Group has a one year low of $9.10 and a one year high of $26.50. The stock has a market capitalization of $680.03 million, a price-to-earnings ratio of 29.46 and a beta of 2.31. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.39.
Textainer Group (NYSE:TGH) last released its earnings results on Friday, November 2nd. The transportation company reported $0.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.05. Textainer Group had a net margin of 10.01% and a return on equity of 5.79%. The firm had revenue of $149.40 million during the quarter, compared to analyst estimates of $145.54 million. During the same period last year, the business earned $0.33 earnings per share. The business’s revenue was up 19.1% on a year-over-year basis. Sell-side analysts predict that Textainer Group will post 1.04 EPS for the current fiscal year.
Hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc raised its holdings in Textainer Group by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 241,273 shares of the transportation company’s stock worth $3,088,000 after acquiring an additional 1,589 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Textainer Group by 1,166,228.0% in the 3rd quarter. Clearbridge Investments LLC now owns 956,389 shares of the transportation company’s stock worth $12,242,000 after acquiring an additional 956,307 shares during the last quarter. BlueMountain Capital Management LLC raised its holdings in Textainer Group by 72.5% in the 3rd quarter. BlueMountain Capital Management LLC now owns 37,457 shares of the transportation company’s stock worth $479,000 after acquiring an additional 15,746 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in Textainer Group by 8.5% in the 3rd quarter. Pacific Ridge Capital Partners LLC now owns 128,210 shares of the transportation company’s stock worth $1,641,000 after acquiring an additional 10,090 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in Textainer Group by 32.9% in the 3rd quarter. Allianz Asset Management GmbH now owns 53,144 shares of the transportation company’s stock worth $680,000 after acquiring an additional 13,154 shares during the last quarter. Hedge funds and other institutional investors own 24.54% of the company’s stock.
Textainer Group Company Profile
Textainer Group Holdings Limited, through its subsidiaries, engages in the purchase, ownership, management, leasing, and disposal of a fleet of intermodal containers worldwide. It operates through three segments: Container Ownership, Container Management, and Container Resale. The company owns and leases standard dry freight containers, refrigerated, and other special-purpose containers.
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