GATX Corporation’s (GATX) “Hold” Rating Reiterated at Cowen and Company
GATX Corporation (NYSE:GATX)‘s stock had its “hold” rating reissued by equities research analysts at Cowen and Company in a research note issued to investors on Monday. They currently have a $63.00 price target on the transportation company’s stock. Cowen and Company’s price target suggests a potential upside of 3.18% from the company’s current price.
Other research analysts have also recently issued research reports about the stock. Zacks Investment Research upgraded shares of GATX Corporation from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a report on Monday, July 24th. Citigroup Inc. dropped their price objective on shares of GATX Corporation from $73.00 to $71.00 and set a “buy” rating for the company in a report on Friday, July 21st. Stifel Nicolaus upgraded shares of GATX Corporation from a “sell” rating to a “hold” rating and lifted their price target for the stock from $50.00 to $54.00 in a research note on Monday, July 17th. Buckingham Research initiated coverage on shares of GATX Corporation in a research note on Wednesday, June 21st. They issued a “neutral” rating and a $64.00 price target for the company. Finally, Axiom Securities reiterated a “sell” rating on shares of GATX Corporation in a research note on Wednesday, July 26th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. GATX Corporation presently has an average rating of “Hold” and a consensus target price of $56.14.
GATX Corporation (NYSE:GATX) opened at 61.06 on Monday. The company has a 50-day moving average price of $62.07 and a 200 day moving average price of $60.82. GATX Corporation has a 1-year low of $40.66 and a 1-year high of $66.30. The stock has a market cap of $2.36 billion, a P/E ratio of 10.29 and a beta of 1.19.
GATX Corporation (NYSE:GATX) last announced its quarterly earnings data on Thursday, July 20th. The transportation company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.21. The firm had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $352.64 million. GATX Corporation had a net margin of 17.09% and a return on equity of 17.83%. The business’s quarterly revenue was down 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.49 earnings per share. Equities analysts expect that GATX Corporation will post $4.60 earnings per share for the current fiscal year.
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In other news, VP James M. Conniff sold 638 shares of the business’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $64.94, for a total transaction of $41,431.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Deborah A. Golden sold 1,368 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $64.46, for a total transaction of $88,181.28. Following the sale, the executive vice president now owns 37,083 shares of the company’s stock, valued at approximately $2,390,370.18. The disclosure for this sale can be found here. Insiders have sold a total of 7,278 shares of company stock valued at $463,874 in the last 90 days. Insiders own 3.50% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Tyers Asset Management LLC boosted its position in shares of GATX Corporation by 10.1% in the first quarter. Tyers Asset Management LLC now owns 1,914 shares of the transportation company’s stock worth $117,000 after buying an additional 176 shares during the last quarter. Shine Investment Advisory Services Inc. acquired a new position in shares of GATX Corporation during the second quarter worth approximately $118,000. IFP Advisors Inc boosted its position in shares of GATX Corporation by 0.4% in the first quarter. IFP Advisors Inc now owns 2,195 shares of the transportation company’s stock worth $134,000 after buying an additional 9 shares during the last quarter. Flinton Capital Management LLC boosted its position in shares of GATX Corporation by 10.1% in the first quarter. Flinton Capital Management LLC now owns 2,436 shares of the transportation company’s stock worth $149,000 after buying an additional 224 shares during the last quarter. Finally, Riverhead Capital Management LLC boosted its position in shares of GATX Corporation by 55.4% in the second quarter. Riverhead Capital Management LLC now owns 2,331 shares of the transportation company’s stock worth $150,000 after buying an additional 831 shares during the last quarter.
GATX Corporation Company Profile
GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management.
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