Textainer Group Holdings Limited (NYSE:TGH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “

TGH has been the subject of several other reports. Cowen and Company lowered their price objective on Textainer Group Holdings Limited from $22.00 to $21.00 and set an “outperform” rating for the company in a research report on Monday, May 15th. Keefe, Bruyette & Woods reissued a “hold” rating on shares of Textainer Group Holdings Limited in a research report on Friday, May 5th. Finally, ValuEngine raised Textainer Group Holdings Limited from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Textainer Group Holdings Limited presently has a consensus rating of “Hold” and an average target price of $18.67.

Shares of Textainer Group Holdings Limited (NYSE:TGH) opened at 14.25 on Tuesday. The firm has a 50 day moving average price of $12.15 and a 200 day moving average price of $12.84. Textainer Group Holdings Limited has a one year low of $6.90 and a one year high of $17.60. The company’s market capitalization is $809.31 million.

Textainer Group Holdings Limited (NYSE:TGH) last posted its quarterly earnings data on Thursday, May 4th. The transportation company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.01. Textainer Group Holdings Limited had a negative return on equity of 6.01% and a negative net margin of 11.27%. The business had revenue of $116.87 million during the quarter, compared to the consensus estimate of $115.15 million. During the same period last year, the business posted $0.11 earnings per share. The business’s revenue was down 9.1% on a year-over-year basis. On average, equities research analysts predict that Textainer Group Holdings Limited will post $0.05 EPS for the current fiscal year.

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Hedge funds have recently modified their holdings of the stock. American International Group Inc. raised its stake in shares of Textainer Group Holdings Limited by 7.1% in the first quarter. American International Group Inc. now owns 13,970 shares of the transportation company’s stock worth $214,000 after buying an additional 926 shares during the last quarter. Alliancebernstein L.P. raised its stake in shares of Textainer Group Holdings Limited by 14.9% in the first quarter. Alliancebernstein L.P. now owns 21,600 shares of the transportation company’s stock worth $330,000 after buying an additional 2,800 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Textainer Group Holdings Limited by 23.0% in the first quarter. GHP Investment Advisors Inc. now owns 19,579 shares of the transportation company’s stock worth $300,000 after buying an additional 3,665 shares during the last quarter. California Public Employees Retirement System raised its stake in shares of Textainer Group Holdings Limited by 22.0% in the first quarter. California Public Employees Retirement System now owns 36,100 shares of the transportation company’s stock worth $552,000 after buying an additional 6,500 shares during the last quarter. Finally, Allianz Asset Management AG raised its stake in shares of Textainer Group Holdings Limited by 10.0% in the fourth quarter. Allianz Asset Management AG now owns 79,594 shares of the transportation company’s stock worth $593,000 after buying an additional 7,259 shares during the last quarter. 21.60% of the stock is owned by institutional investors and hedge funds.

Textainer Group Holdings Limited Company Profile

Textainer Group Holdings Limited 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 owns containers; Container Management, which manages containers on behalf of affiliated and unaffiliated container investors, and provides acquisition, management and disposal services, and total managed containers, 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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