GATX Corporation (GATX) Receives Hold Rating from Cowen and Company
Cowen and Company reaffirmed their hold rating on shares of GATX Corporation (NYSE:GATX) in a research note published on Monday morning. They currently have a $63.00 price target on the transportation company’s stock.
GATX has been the subject of a number of other research reports. Zacks Investment Research upgraded GATX Corporation from a hold rating to a buy rating and set a $69.00 price objective for the company in a report on Thursday, August 24th. Axiom Securities restated a sell rating on shares of GATX Corporation in a report on Wednesday, July 26th. ValuEngine upgraded GATX Corporation from a buy rating to a strong-buy rating in a report on Saturday, June 3rd. Buckingham Research started coverage on GATX Corporation in a report on Wednesday, June 21st. They set a neutral rating and a $64.00 price objective for the company. Finally, Citigroup Inc. lowered their target price on GATX Corporation from $73.00 to $71.00 and set a buy rating for the company in a report on Friday, July 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. GATX Corporation presently has an average rating of Hold and an average price target of $56.14.
GATX Corporation (NYSE GATX) opened at 60.58 on Monday. The company has a market cap of $2.35 billion, a P/E ratio of 10.21 and a beta of 1.19. GATX Corporation has a 12-month low of $40.66 and a 12-month high of $66.30. The stock’s 50 day moving average is $61.83 and its 200 day moving average is $60.89.
GATX Corporation (NYSE:GATX) last posted its quarterly earnings data on Thursday, July 20th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.11 by $0.21. GATX Corporation had a return on equity of 17.83% and a net margin of 17.09%. The company had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $352.64 million. During the same quarter in the previous year, the business earned $1.49 EPS. GATX Corporation’s revenue was down 2.9% compared to the same quarter last year. On average, equities analysts forecast that GATX Corporation will post $4.60 earnings per share for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Shareholders of record on Friday, September 15th will be issued a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Thursday, September 14th. GATX Corporation’s dividend payout ratio is 28.38%.
In related news, VP James M. Conniff sold 638 shares of the company’s stock in a transaction on Monday, June 12th. The stock was sold at an average price of $64.94, for a total transaction of $41,431.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Paul F. Titterton sold 2,843 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $61.68, for a total value of $175,356.24. Following the sale, the senior vice president now owns 12,261 shares of the company’s stock, valued at $756,258.48. The disclosure for this sale can be found here. Insiders sold a total of 7,278 shares of company stock valued at $463,874 over the last quarter. Company insiders own 3.50% of the company’s stock.
Large investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of GATX Corporation during the second quarter worth $272,000. Public Employees Retirement System of Ohio boosted its stake in shares of GATX Corporation by 0.5% in the second quarter. Public Employees Retirement System of Ohio now owns 19,651 shares of the transportation company’s stock worth $1,263,000 after buying an additional 107 shares during the period. Raymond James Financial Services Advisors Inc. bought a new stake in shares of GATX Corporation during the second quarter worth $249,000. BlueCrest Capital Management Ltd bought a new stake in shares of GATX Corporation during the second quarter worth $244,000. Finally, State Street Corp boosted its stake in shares of GATX Corporation by 4.5% in the second quarter. State Street Corp now owns 1,392,167 shares of the transportation company’s stock worth $89,470,000 after buying an additional 59,729 shares during the period.
GATX Corporation Company Profile
GATX Corporation is a global railcar lessor, owning fleets in North America, Europe, and Asia. In addition, the Company operates fleet of the United States-flagged vessels on the Great Lakes and jointly with Rolls-Royce plc, it owns aircraft spare engine lease portfolios in the world. It operates through four business segments: Rail North America, Rail International, American Steamship Company (ASC), and Portfolio Management.
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