Textainer Group Holdings Ltd. (TGH) Lifted to Hold at Zacks Investment Research
Textainer Group Holdings Ltd. (NYSE:TGH) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Tuesday.
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. “
Separately, Cowen and Company dropped their target price on shares of Textainer Group Holdings from $15.00 to $13.00 and set a “market perform” rating on the stock in a report on Tuesday, August 9th. Six investment analysts have rated the stock with a hold rating, Textainer Group Holdings currently has an average rating of “Hold” and an average target price of $13.33.
Textainer Group Holdings (NYSE:TGH) opened at 7.15 on Tuesday. The stock’s 50 day moving average is $7.99 and its 200 day moving average is $11.25. The stock has a market capitalization of $404.62 million, a PE ratio of 15.51 and a beta of 2.27. Textainer Group Holdings has a 12-month low of $7.10 and a 12-month high of $21.12.
Textainer Group Holdings (NYSE:TGH) last issued its earnings results on Tuesday, August 9th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by $0.09. Textainer Group Holdings had a return on equity of 3.16% and a net margin of 5.08%. The business had revenue of $127.45 million for the quarter, compared to the consensus estimate of $125.61 million. During the same quarter in the previous year, the company earned $0.66 earnings per share. The firm’s revenue was down 7.8% on a year-over-year basis. Equities analysts anticipate that Textainer Group Holdings will post $0.32 EPS for the current fiscal year.
Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Textainer Group Holdings by 0.4% in the second quarter. Vanguard Group Inc. now owns 1,337,500 shares of the company’s stock worth $14,900,000 after buying an additional 5,942 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Textainer Group Holdings by 4.4% in the second quarter. BlackRock Fund Advisors now owns 527,242 shares of the company’s stock worth $5,873,000 after buying an additional 22,237 shares in the last quarter. Royal Bank of Canada boosted its stake in Textainer Group Holdings by 2.4% in the second quarter. Royal Bank of Canada now owns 146,019 shares of the company’s stock worth $1,627,000 after buying an additional 3,429 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Textainer Group Holdings by 21.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 118,978 shares of the company’s stock worth $1,326,000 after buying an additional 21,258 shares in the last quarter. Finally, UBS Group AG boosted its stake in Textainer Group Holdings by 37.8% in the first quarter. UBS Group AG now owns 110,544 shares of the company’s stock worth $1,641,000 after buying an additional 30,303 shares in the last quarter. Institutional investors and hedge funds own 13.99% of the company’s stock.
About Textainer Group Holdings
Textainer Group Holdings Limited (TGH) 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 owned containers accounting for approximately 80% of the Company’s fleet; Container Management, which managed containers on behalf of approximately 10 affiliated and unaffiliated container investors, providing acquisition, management and disposal services, and total managed containers accounted for approximately 20% of its fleet, 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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