GATX Corporation (GATX) Upgraded to Buy by Zacks Investment Research
GATX Corporation (NYSE:GATX) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $66.00 price target on the transportation company’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.88% from the company’s current price.
According to Zacks, “Shares of GATX Corporation have outperformed the industry it belongs to, in a year, on the back of its strong product portfolio. Moreover, the company has an impressive earnings history having outshined the Zacks Consensus Estimate in each of the past four quarters with an average beat of 32.8%. We are also impressed by GATX Corporation's efforts to reward investors through share buybacks and dividend payments. The company has been paying regular dividends continuously since 1919. In Jan 2017, the company raised its quarterly dividend by 5%. Additionally, the improvement in profits at the Rail International segment is encouraging. However, the company's struggles on the top line front bother us. Moreover, GATX is a highly leveraged company.”
Several other brokerages have also commented on GATX. Buckingham Research initiated coverage on GATX Corporation in a research note on Wednesday, June 21st. They issued a “neutral” rating and a $64.00 price target on the stock. Cowen and Company reaffirmed a “hold” rating and issued a $63.00 price target on shares of GATX Corporation in a research note on Monday, August 28th. Stifel Nicolaus raised GATX Corporation from a “sell” rating to a “hold” rating and upped their price target for the company from $50.00 to $54.00 in a research note on Monday, July 17th. Citigroup Inc. decreased their price target on GATX Corporation from $73.00 to $71.00 and set a “buy” rating on the stock in a research note on Friday, July 21st. Finally, ValuEngine raised GATX Corporation from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 3rd. Three analysts have rated the stock with a sell rating, four have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $55.71.
Shares of GATX Corporation (NYSE:GATX) traded down 0.42% during mid-day trading on Friday, reaching $58.75. The company had a trading volume of 229,744 shares. The stock’s 50-day moving average price is $61.11 and its 200 day moving average price is $60.94. GATX Corporation has a 1-year low of $40.76 and a 1-year high of $66.30. The company has a market capitalization of $2.27 billion, a PE ratio of 9.90 and a beta of 1.20.
GATX Corporation (NYSE:GATX) last announced its quarterly earnings results on Thursday, July 20th. The transportation company reported $1.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.21. GATX Corporation had a return on equity of 17.83% and a net margin of 17.09%. The business had revenue of $348.40 million for the quarter, compared to analyst estimates of $352.64 million. During the same quarter in the prior year, the company posted $1.49 EPS. The company’s quarterly revenue was down 2.9% on a year-over-year basis. Equities analysts expect that GATX Corporation will post $4.60 EPS for the current year.
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Institutional investors and hedge funds have recently bought and sold shares of the stock. Shine Investment Advisory Services Inc. acquired a new position in GATX Corporation during the 2nd quarter worth about $118,000. IFP Advisors Inc lifted its stake in GATX Corporation by 2.9% during the 2nd quarter. IFP Advisors Inc now owns 2,259 shares of the transportation company’s stock worth $145,000 after acquiring an additional 64 shares in the last quarter. Riverhead Capital Management LLC lifted its stake in GATX Corporation by 55.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,331 shares of the transportation company’s stock worth $150,000 after acquiring an additional 831 shares in the last quarter. Bank of Montreal Can lifted its stake in GATX Corporation by 19.4% during the 1st quarter. Bank of Montreal Can now owns 2,525 shares of the transportation company’s stock worth $154,000 after acquiring an additional 410 shares in the last quarter. Finally, Advisor Group Inc. lifted its stake in GATX Corporation by 15.5% during the 2nd quarter. Advisor Group Inc. now owns 2,519 shares of the transportation company’s stock worth $161,000 after acquiring an additional 338 shares in the last quarter.
About GATX Corporation
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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