Textainer Group Holdings Limited’s (NYSE:TGH) “Buy” Rating Reaffirmed at Cowen and Company
Textainer Group Holdings Limited (NYSE:TGH)‘s stock had its “buy” rating reissued by Cowen and Company in a research note issued on Tuesday, July 11th. They currently have a $21.00 target price on the transportation company’s stock. Cowen and Company’s price target would suggest a potential upside of 25.75% from the stock’s previous close.
A number of other equities research analysts also recently weighed in on TGH. Zacks Investment Research downgraded Textainer Group Holdings Limited from a “buy” rating to a “hold” rating in a report on Friday, March 17th. Keefe, Bruyette & Woods reiterated a “hold” rating on shares of Textainer Group Holdings Limited in a report on Friday, May 5th. Finally, ValuEngine upgraded Textainer Group Holdings Limited from a “sell” rating to a “hold” rating in a report on Saturday, June 17th. Two analysts have rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Textainer Group Holdings Limited has a consensus rating of “Hold” and a consensus price target of $18.67.
Shares of Textainer Group Holdings Limited (NYSE:TGH) traded up 0.91% during trading on Tuesday, hitting $16.70. The company had a trading volume of 220,541 shares. Textainer Group Holdings Limited has a 12-month low of $6.90 and a 12-month high of $17.60. The stock has a 50-day moving average of $14.44 and a 200 day moving average of $13.89. The stock’s market capitalization is $948.46 million.
Textainer Group Holdings Limited (NYSE:TGH) last issued its earnings results on Thursday, May 4th. The transportation company reported ($0.16) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.15) by $0.01. The business had revenue of $116.87 million during the quarter, compared to the consensus estimate of $115.15 million. Textainer Group Holdings Limited had a negative return on equity of 6.01% and a negative net margin of 11.27%. The company’s revenue for the quarter was down 9.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.11 earnings per share. On average, analysts predict that Textainer Group Holdings Limited will post $0.03 EPS for the current fiscal year.
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Several large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP increased its stake in Textainer Group Holdings Limited by 20.2% in the first quarter. Wellington Management Group LLP now owns 1,310,131 shares of the transportation company’s stock valued at $20,045,000 after buying an additional 220,193 shares in the last quarter. Rutabaga Capital Management LLC MA purchased a new stake in Textainer Group Holdings Limited during the first quarter valued at approximately $19,498,000. Dimensional Fund Advisors LP increased its stake in Textainer Group Holdings Limited by 1.5% in the first quarter. Dimensional Fund Advisors LP now owns 760,137 shares of the transportation company’s stock valued at $11,629,000 after buying an additional 11,597 shares in the last quarter. State Street Corp increased its stake in Textainer Group Holdings Limited by 17.2% in the fourth quarter. State Street Corp now owns 406,172 shares of the transportation company’s stock valued at $3,026,000 after buying an additional 59,500 shares in the last quarter. Finally, Royce & Associates LP purchased a new stake in Textainer Group Holdings Limited during the first quarter valued at approximately $5,884,000. Hedge funds and other institutional investors own 21.59% 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.
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