Zacks Investment Research Upgrades Textainer Group Holdings Limited (TGH) to “Buy”
Textainer Group Holdings Limited (NYSE:TGH) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm presently has a $20.00 target price on the transportation company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 10.80% from the company’s current price.
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. “
A number of other equities research analysts have also recently issued reports on the stock. ValuEngine upgraded shares of Textainer Group Holdings Limited from a “sell” rating to a “hold” rating in a research report on Saturday, June 17th. Cowen and Company reiterated a “buy” rating and set a $21.00 target price on shares of Textainer Group Holdings Limited in a research report on Tuesday, July 11th. SunTrust Banks, Inc. reiterated a “buy” rating and set a $20.00 target price (up previously from $19.00) on shares of Textainer Group Holdings Limited in a research report on Tuesday, September 12th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $16.00 target price on shares of Textainer Group Holdings Limited in a research report on Thursday, August 10th. Finally, BidaskClub upgraded shares of Textainer Group Holdings Limited from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $19.25.
Shares of Textainer Group Holdings Limited (NYSE:TGH) traded up 0.28% during midday trading on Wednesday, hitting $18.10. 60,928 shares of the company were exchanged. Textainer Group Holdings Limited has a one year low of $6.90 and a one year high of $18.35. The stock’s market cap is $1.03 billion. The stock’s 50-day moving average is $16.92 and its 200-day moving average is $14.71.
Textainer Group Holdings Limited (NYSE:TGH) last announced its earnings results on Tuesday, August 8th. The transportation company reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.03). The firm had revenue of $119.25 million for the quarter, compared to analyst estimates of $120.62 million. Textainer Group Holdings Limited had a negative return on equity of 6.45% and a negative net margin of 13.12%. The company’s revenue for the quarter was down 6.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.04 EPS. Equities research analysts anticipate that Textainer Group Holdings Limited will post $0.14 EPS for the current year.
Several institutional investors have recently made changes to their positions in TGH. Rutabaga Capital Management LLC MA acquired a new stake in shares of Textainer Group Holdings Limited during the 1st quarter worth about $19,498,000. Royce & Associates LP acquired a new stake in shares of Textainer Group Holdings Limited during the 1st quarter worth about $5,884,000. Prudential PLC acquired a new stake in shares of Textainer Group Holdings Limited during the 2nd quarter worth about $4,671,000. Ameriprise Financial Inc. increased its position in shares of Textainer Group Holdings Limited by 71.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 583,916 shares of the transportation company’s stock worth $8,467,000 after purchasing an additional 244,167 shares in the last quarter. Finally, King Luther Capital Management Corp acquired a new stake in shares of Textainer Group Holdings Limited during the 1st quarter worth about $3,632,000. Institutional investors and hedge funds own 22.38% 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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Textainer Group Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Textainer Group Holdings Limited and related companies with MarketBeat.com's FREE daily email newsletter.