Zacks Investment Research Upgrades Textainer Group (TGH) to Strong-Buy

Textainer Group (NYSE:TGH) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Saturday. The brokerage currently has a $27.00 price target on the transportation company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 11.34% from the stock’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. “

TGH has been the topic of a number of other research reports. Wells Fargo & Co increased their price objective on shares of Textainer Group from $19.00 to $22.00 and gave the stock a “market perform” rating in a research note on Tuesday, November 14th. SunTrust Banks reiterated a “buy” rating and issued a $25.00 price objective on shares of Textainer Group in a research note on Friday, November 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $22.00 price objective on shares of Textainer Group in a research note on Sunday, November 19th. Finally, Cowen increased their price objective on shares of Textainer Group from $21.00 to $26.00 and gave the stock an “outperform” rating in a research note on Friday, November 10th. Three investment analysts have rated the stock with a hold rating, two have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $24.40.

Textainer Group (NYSE:TGH) traded up $0.25 during trading hours on Friday, hitting $24.25. 233,537 shares of the stock were exchanged, compared to its average volume of 194,335. The firm has a market capitalization of $1,364.19, a price-to-earnings ratio of 808.60, a P/E/G ratio of 1.56 and a beta of 2.48. Textainer Group has a 1 year low of $9.60 and a 1 year high of $24.95. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.85 and a quick ratio of 0.85.

Textainer Group (NYSE:TGH) last released its quarterly earnings data on Thursday, November 9th. The transportation company reported $0.33 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.14 by $0.19. The firm had revenue of $125.60 million for the quarter, compared to analyst estimates of $122.87 million. Textainer Group had a net margin of 0.38% and a negative return on equity of 0.44%. The business’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.92) earnings per share. equities research analysts forecast that Textainer Group will post 0.35 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC purchased a new stake in Textainer Group during the second quarter worth $170,000. Dynamic Technology Lab Private Ltd purchased a new stake in Textainer Group during the third quarter worth $190,000. Atria Investments LLC purchased a new stake in Textainer Group during the fourth quarter worth $200,000. Tudor Investment Corp ET AL purchased a new stake in Textainer Group during the second quarter worth $202,000. Finally, Cubist Systematic Strategies LLC boosted its holdings in Textainer Group by 240.5% during the third quarter. Cubist Systematic Strategies LLC now owns 12,925 shares of the transportation company’s stock worth $222,000 after buying an additional 9,129 shares in the last quarter. 24.48% of the stock is currently owned by hedge funds and other institutional investors.

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Textainer Group Company Profile

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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