Textainer Group Holdings Limited (TGH) Downgraded by Zacks Investment Research
Textainer Group Holdings Limited (NYSE:TGH) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released 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. “
Several other equities research analysts also recently weighed in on TGH. Cowen and Company reissued a “buy” rating and issued a $21.00 target price on shares of Textainer Group Holdings Limited in a research note on Tuesday, July 11th. Keefe, Bruyette & Woods restated a “hold” rating on shares of Textainer Group Holdings Limited in a report on Friday, May 5th. Finally, ValuEngine upgraded shares of Textainer Group Holdings Limited from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.67.
Textainer Group Holdings Limited (NYSE:TGH) opened at 15.40 on Tuesday. Textainer Group Holdings Limited has a 12-month low of $6.90 and a 12-month high of $17.60. The company has a 50-day moving average of $13.72 and a 200 day moving average of $13.60. The company’s market capitalization is $874.63 million.
Textainer Group Holdings Limited (NYSE:TGH) last posted its quarterly earnings results on Thursday, May 4th. The transportation company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.01. The firm had revenue of $116.87 million during the quarter, compared to the consensus estimate of $115.15 million. Textainer Group Holdings Limited had a negative return on equity of 6.01% and a negative net margin of 11.27%. The business’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.11 earnings per share. Equities research analysts forecast that Textainer Group Holdings Limited will post $0.05 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp boosted its position in shares of Textainer Group Holdings Limited by 17.2% in the fourth quarter. State Street Corp now owns 406,172 shares of the transportation company’s stock valued at $3,026,000 after buying an additional 59,500 shares during the last quarter. Auxier Asset Management boosted its position in shares of Textainer Group Holdings Limited by 51.9% in the fourth quarter. Auxier Asset Management now owns 93,600 shares of the transportation company’s stock valued at $697,000 after buying an additional 32,000 shares during the last quarter. Russell Investments Group Ltd. acquired a new position in shares of Textainer Group Holdings Limited during the fourth quarter valued at about $516,000. Fox Run Management L.L.C. acquired a new position in shares of Textainer Group Holdings Limited during the first quarter valued at about $213,000. Finally, Norges Bank acquired a new position in shares of Textainer Group Holdings Limited during the fourth quarter valued at about $1,207,000. Institutional investors own 21.60% of the company’s stock.
About Textainer Group Holdings Limited
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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