Textainer Group Holdings Ltd. (TGH) Upgraded to Hold by 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 research report issued to clients and 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 reduced their price objective on Textainer Group Holdings from $15.00 to $13.00 and set a “market perform” rating for the company in a report on Tuesday, August 9th. Six equities research analysts have rated the stock with a hold rating, The stock presently has an average rating of “Hold” and an average price target of $13.33.
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Textainer Group Holdings (NYSE:TGH) opened at 7.30 on Tuesday. Textainer Group Holdings has a 12-month low of $7.10 and a 12-month high of $21.12. The firm has a market cap of $413.11 million, a PE ratio of 15.84 and a beta of 2.27. The stock’s 50 day moving average price is $7.99 and its 200-day moving average price is $11.25.
Textainer Group Holdings (NYSE:TGH) last released its earnings results on Tuesday, August 9th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by $0.09. The business earned $127.45 million during the quarter, compared to the consensus estimate of $125.61 million. Textainer Group Holdings had a net margin of 5.08% and a return on equity of 3.16%. The business’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.66 earnings per share. Equities research analysts anticipate that Textainer Group Holdings will post $0.32 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of TGH. BlackRock Advisors LLC raised its position in Textainer Group Holdings by 1.3% in the second quarter. BlackRock Advisors LLC now owns 11,072 shares of the company’s stock worth $123,000 after buying an additional 144 shares during the last quarter. Victory Capital Management Inc. raised its position in 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 last quarter. Dynamic Technology Lab Private Ltd bought a new position in Textainer Group Holdings during the second quarter worth approximately $131,000. AHL Partners LLP bought a new position in Textainer Group Holdings during the second quarter worth approximately $135,000. Finally, Alliancebernstein L.P. raised its position in Textainer Group Holdings by 53.9% in the second quarter. Alliancebernstein L.P. now owns 19,700 shares of the company’s stock worth $219,000 after buying an additional 6,900 shares during the last quarter. 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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