GATX Corporation (GATX) Downgraded by Zacks Investment Research to Hold
Zacks Investment Research lowered shares of GATX Corporation (NYSE:GATX) from a buy rating to a hold rating in a report published on Monday morning.
According to Zacks, “Shares of GATX Corporation have outperformed the industry it belongs to, in a year, on the back of its strong product portfolio. Moreover, the company has an impressive earnings history having outshined the Zacks Consensus Estimate in each of the past four quarters. We are also impressed by GATX Corporation's efforts to reward investors through share buybacks and dividend payments. Additionally, the improvement in profits at the Rail International segment is encouraging. However, the company's struggles on the top line front bother us. Moreover, GATX is a highly leveraged company. The company’s tepid outlook for 2017 reflects the tough market conditions. It expects 2017 earnings per share between $4.40 and $4.60. The projection is much below the figure recorded in 2016.”
Other analysts have also issued reports about the stock. Citigroup Inc. reduced their price objective on shares of GATX Corporation from $73.00 to $71.00 and set a buy rating on the stock in a report on Friday, July 21st. Stifel Nicolaus upgraded 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. Buckingham Research began coverage on shares of GATX Corporation in a report on Wednesday, June 21st. They issued a neutral rating and a $64.00 price objective on the stock. BidaskClub lowered shares of GATX Corporation from a hold rating to a sell rating in a report on Saturday. Finally, ValuEngine upgraded shares of GATX Corporation from a buy rating to a strong-buy rating in a report on Friday, September 1st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. GATX Corporation currently has an average rating of Hold and a consensus price target of $56.00.
GATX Corporation (NYSE:GATX) traded up 0.53% on Monday, hitting $58.79. 9,994 shares of the stock were exchanged. The stock’s 50 day moving average price is $61.48 and its 200 day moving average price is $60.99. The firm has a market cap of $2.28 billion, a PE ratio of 9.91 and a beta of 1.20. GATX Corporation has a 52-week low of $40.66 and a 52-week high of $66.30.
GATX Corporation (NYSE:GATX) last issued its quarterly earnings data on Thursday, July 20th. The transportation company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.21. The firm had revenue of $348.40 million for the quarter, compared to analyst estimates of $352.64 million. GATX Corporation had a net margin of 17.09% and a return on equity of 17.83%. GATX Corporation’s revenue was down 2.9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.49 EPS. Equities research analysts forecast that GATX Corporation will post $4.60 earnings per share for the current year.
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 given a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend is Thursday, September 14th. GATX Corporation’s dividend payout ratio is currently 28.38%.
In other GATX Corporation news, EVP Deborah A. Golden sold 1,368 shares of GATX Corporation stock in a transaction dated Thursday, June 15th. The stock was sold at an average price of $64.46, for a total value of $88,181.28. Following the completion of the transaction, the executive vice president now directly owns 37,083 shares of the company’s stock, valued at approximately $2,390,370.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 3.50% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Shine Investment Advisory Services Inc. acquired a new position in GATX Corporation in the 2nd quarter valued at about $118,000. Tyers Asset Management LLC grew its position in GATX Corporation by 10.1% in the 1st quarter. Tyers Asset Management LLC now owns 1,914 shares of the transportation company’s stock valued at $117,000 after acquiring an additional 176 shares in the last quarter. IFP Advisors Inc grew its position in GATX Corporation by 0.4% in the 1st quarter. IFP Advisors Inc now owns 2,195 shares of the transportation company’s stock valued at $134,000 after acquiring an additional 9 shares in the last quarter. Riverhead Capital Management LLC grew its position in GATX Corporation by 55.4% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,331 shares of the transportation company’s stock valued at $150,000 after acquiring an additional 831 shares in the last quarter. Finally, Flinton Capital Management LLC grew its position in GATX Corporation by 10.1% in the 1st quarter. Flinton Capital Management LLC now owns 2,436 shares of the transportation company’s stock valued at $149,000 after acquiring an additional 224 shares in the last quarter.
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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