GATX Corporation (GATX) Downgraded by BidaskClub
BidaskClub downgraded shares of GATX Corporation (NYSE:GATX) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.
Several other research analysts have also recently weighed in on the stock. Axiom Securities reissued a sell rating on shares of GATX Corporation in a report on Friday, June 16th. ValuEngine raised shares of GATX Corporation from a buy rating to a strong-buy rating in a report on Saturday, June 3rd. Zacks Investment Research cut shares of GATX Corporation from a buy rating to a hold rating in a report on Monday, July 17th. Citigroup Inc. decreased their price objective on shares of GATX Corporation from $73.00 to $71.00 and set a buy rating for the company in a report on Friday, July 21st. Finally, Stifel Nicolaus raised shares of GATX Corporation from a sell rating to a hold rating and boosted their price objective for the company from $50.00 to $54.00 in a report on Monday, July 17th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. GATX Corporation has an average rating of Hold and an average price target of $56.00.
GATX Corporation (NYSE:GATX) opened at 58.48 on Friday. The company has a market capitalization of $2.26 billion, a P/E ratio of 9.86 and a beta of 1.20. GATX Corporation has a 52-week low of $40.66 and a 52-week high of $66.30. The stock’s 50 day moving average is $61.48 and its 200-day moving average is $60.99.
GATX Corporation (NYSE:GATX) last released its quarterly earnings data on Thursday, July 20th. The transportation company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.11 by $0.21. GATX Corporation had a net margin of 17.09% and a return on equity of 17.83%. The firm had revenue of $348.40 million during the quarter, compared to analysts’ expectations of $352.64 million. During the same period in the previous year, the company earned $1.49 earnings per share. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. Analysts predict that GATX Corporation will post $4.60 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Saturday, September 30th. Investors of record on Friday, September 15th will be given a dividend of $0.42 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.68 annualized dividend and a yield of 2.87%. GATX Corporation’s dividend payout ratio (DPR) is 28.38%.
In related news, EVP Deborah A. Golden sold 1,368 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The shares were sold at an average price of $64.46, for a total transaction of $88,181.28. Following the completion of the sale, the executive vice president now directly owns 37,083 shares in the company, valued at $2,390,370.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Fox Run Management L.L.C. bought a new stake in GATX Corporation during the second quarter valued at approximately $308,000. PNC Financial Services Group Inc. grew its position in GATX Corporation by 6.3% during the first quarter. PNC Financial Services Group Inc. now owns 6,607 shares of the transportation company’s stock valued at $401,000 after buying an additional 392 shares during the period. Schwab Charles Investment Management Inc. grew its position in GATX Corporation by 8.8% during the first quarter. Schwab Charles Investment Management Inc. now owns 298,994 shares of the transportation company’s stock valued at $18,227,000 after buying an additional 24,109 shares during the period. Bessemer Group Inc. grew its position in GATX Corporation by 12.4% during the second quarter. Bessemer Group Inc. now owns 4,549 shares of the transportation company’s stock valued at $293,000 after buying an additional 501 shares during the period. Finally, Laurion Capital Management LP bought a new stake in GATX Corporation during the first quarter valued at approximately $353,000.
About GATX Corporation
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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