Cowen and Company Reiterates “Hold” Rating for CAI International, Inc. (CAI)
Cowen and Company reissued their hold rating on shares of CAI International, Inc. (NYSE:CAI) in a research report sent to investors on Friday morning. The firm currently has a $28.00 target price on the transportation company’s stock.
CAI has been the topic of several other research reports. ValuEngine lowered CAI International from a buy rating to a hold rating in a research note on Thursday, August 24th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $26.00 price target on shares of CAI International in a research note on Friday, July 14th. Finally, TheStreet raised CAI International from a d+ rating to a c rating in a research note on Wednesday, July 26th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. CAI International presently has a consensus rating of Buy and an average target price of $24.75.
CAI International (NYSE:CAI) opened at 30.97 on Friday. The stock’s 50 day moving average price is $27.61 and its 200-day moving average price is $20.98. The company has a market capitalization of $593.69 million, a P/E ratio of 45.21 and a beta of 2.20. CAI International has a 52-week low of $6.75 and a 52-week high of $31.61.
CAI International (NYSE:CAI) last released its quarterly earnings data on Wednesday, July 26th. The transportation company reported $0.65 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.09. The company had revenue of $82.69 million for the quarter, compared to analyst estimates of $85.18 million. CAI International had a return on equity of 4.13% and a net margin of 4.14%. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. Analysts predict that CAI International will post $2.33 earnings per share for the current fiscal year.
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Several institutional investors have recently made changes to their positions in CAI. American International Group Inc. lifted its stake in shares of CAI International by 7.1% in the 1st quarter. American International Group Inc. now owns 9,650 shares of the transportation company’s stock valued at $152,000 after purchasing an additional 637 shares during the last quarter. Citadel Advisors LLC lifted its stake in shares of CAI International by 4.0% in the 1st quarter. Citadel Advisors LLC now owns 10,898 shares of the transportation company’s stock valued at $172,000 after purchasing an additional 421 shares during the last quarter. Metropolitan Life Insurance Co. NY acquired a new position in shares of CAI International in the 1st quarter valued at $184,000. State Board of Administration of Florida Retirement System lifted its stake in shares of CAI International by 18.9% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,425 shares of the transportation company’s stock valued at $211,000 after purchasing an additional 2,130 shares during the last quarter. Finally, Teachers Advisors LLC lifted its stake in shares of CAI International by 2.0% in the 4th quarter. Teachers Advisors LLC now owns 26,438 shares of the transportation company’s stock valued at $229,000 after purchasing an additional 520 shares during the last quarter. 58.10% of the stock is currently 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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