Textainer Group Holdings Ltd. (TGH) Lifted to Hold at Zacks Investment Research
Textainer Group Holdings Ltd. (NYSE:TGH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
Separately, Cowen and Company cut their target price on shares of Textainer Group Holdings from $15.00 to $13.00 and set a “market perform” rating on the stock in a research note on Tuesday, August 9th. Six research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and an average target price of $13.33.
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Textainer Group Holdings (NYSE:TGH) opened at 7.15 on Tuesday. The firm’s 50-day moving average is $7.99 and its 200-day moving average is $11.25. The stock has a market capitalization of $404.62 million, a price-to-earnings ratio of 15.51 and a beta of 2.27. Textainer Group Holdings has a 52-week low of $7.10 and a 52-week high of $21.12.
Textainer Group Holdings (NYSE:TGH) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.14 by $0.09. The business had revenue of $127.45 million for the quarter, compared to analysts’ expectations of $125.61 million. Textainer Group Holdings had a return on equity of 3.16% and a net margin of 5.08%. The firm’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.66 earnings per share. Analysts predict that Textainer Group Holdings will post $0.32 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in the stock. Pacific Ridge Capital Partners LLC increased its position in shares of Textainer Group Holdings by 39.0% in the second quarter. Pacific Ridge Capital Partners LLC now owns 49,600 shares of the company’s stock worth $553,000 after buying an additional 13,910 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in shares of Textainer Group Holdings during the second quarter worth about $131,000. Vanguard Group Inc. increased its position in shares of Textainer Group Holdings by 0.4% in the second quarter. Vanguard Group Inc. now owns 1,337,500 shares of the company’s stock worth $14,900,000 after buying an additional 5,942 shares during the period. Prudential Financial Inc. increased its position in shares of Textainer Group Holdings by 103.0% in the second quarter. Prudential Financial Inc. now owns 105,430 shares of the company’s stock worth $1,174,000 after buying an additional 53,500 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Textainer Group Holdings by 17.6% in the second quarter. Victory Capital Management Inc. now owns 11,206 shares of the company’s stock worth $125,000 after buying an additional 1,675 shares during the period. 13.99% of the stock is owned by hedge funds and other institutional investors.
Textainer Group Holdings Company Profile
Textainer Group Holdings Limited (TGH) is a holding company. The Company is involved in the purchase, ownership, management, leasing and disposal of a fleet of intermodal containers. The Company operates in three segments: Container Ownership, which owned containers accounting for approximately 80% of the Company’s fleet; Container Management, which managed containers on behalf of approximately 10 affiliated and unaffiliated container investors, providing acquisition, management and disposal services, and total managed containers accounted for approximately 20% of its fleet, and Container Resale, which sells containers from its fleet when they reach the end of their useful lives in marine service, and also purchases and leases or resells containers from shipping line customers, container traders and other sellers of containers.
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