David G. Remington Sells 11,724 Shares of CAI International, Inc. (CAI) Stock
CAI International, Inc. (NYSE:CAI) Director David G. Remington sold 11,724 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $37.50, for a total transaction of $439,650.00. Following the transaction, the director now directly owns 13,041 shares of the company’s stock, valued at $489,037.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.
Shares of CAI International, Inc. (CAI) traded up 1.33% during midday trading on Friday, hitting $37.33. 270,902 shares of the company were exchanged. The company has a market capitalization of $715.62 million, a P/E ratio of 54.50 and a beta of 2.19. CAI International, Inc. has a one year low of $6.75 and a one year high of $40.11. The company has a 50-day moving average of $30.80 and a 200 day moving average of $25.16.
CAI International (NYSE:CAI) last posted its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.90 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.70 by $0.20. CAI International had a net margin of 10.93% and a return on equity of 7.11%. The business had revenue of $90.16 million during the quarter, compared to analysts’ expectations of $89.43 million. During the same quarter in the prior year, the business posted $0.16 earnings per share. CAI International’s revenue was up 14.9% compared to the same quarter last year. On average, equities research analysts expect that CAI International, Inc. will post $2.56 earnings per share for the current fiscal year.
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CAI has been the subject of a number of analyst reports. Zacks Investment Research raised shares of CAI International from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Thursday, October 19th. Wells Fargo & Company raised their price objective on shares of CAI International from $26.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, October 20th. Cowen and Company reaffirmed a “hold” rating and set a $28.00 price objective on shares of CAI International in a report on Wednesday, October 4th. ValuEngine downgraded shares of CAI International from a “buy” rating to a “hold” rating in a report on Thursday, August 24th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $26.00 price objective on shares of CAI International in a report on Friday, July 14th. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. CAI International presently has a consensus rating of “Buy” and an average target price of $35.80.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Schwab Charles Investment Management Inc. lifted its position in CAI International by 116.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 75,761 shares of the transportation company’s stock worth $1,193,000 after purchasing an additional 40,717 shares during the period. Wells Fargo & Company MN lifted its holdings in shares of CAI International by 451.7% in the first quarter. Wells Fargo & Company MN now owns 51,880 shares of the transportation company’s stock worth $816,000 after acquiring an additional 42,476 shares during the last quarter. Royce & Associates LP lifted its holdings in shares of CAI International by 26.9% in the second quarter. Royce & Associates LP now owns 325,162 shares of the transportation company’s stock worth $7,674,000 after acquiring an additional 69,000 shares during the last quarter. 361 Capital LLC bought a new position in shares of CAI International in the second quarter worth about $413,000. Finally, Chicago Equity Partners LLC bought a new position in shares of CAI International in the second quarter worth about $925,000. 58.08% of the stock is owned by institutional investors and hedge funds.
About CAI International
CAI International, Inc is a transportation finance and logistics company. The Company purchases equipment, primarily intermodal shipping containers and railcars, which it leases to its customers, and also manages equipment for third-party investors. The Company operates through three segments: container leasing, rail leasing and logistics.
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