CAI International, Inc. (CAI) Stock Rating Reaffirmed by Cowen and Company
CAI International, Inc. (NYSE:CAI)‘s stock had its “hold” rating reaffirmed by stock analysts at Cowen and Company in a research report issued to clients and investors on Wednesday. They currently have a $28.00 target price on the transportation company’s stock. Cowen and Company’s price target suggests a potential downside of 8.97% from the stock’s previous close.
Several other research analysts also recently commented on the company. Zacks Investment Research downgraded CAI International from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. ValuEngine raised CAI International from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. TheStreet raised CAI International from a “d+” rating to a “c” rating in a research report on Wednesday, July 26th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $26.00 price objective on shares of CAI International in a research report on Friday, July 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. CAI International has a consensus rating of “Hold” and an average price target of $24.75.
CAI International (NYSE:CAI) opened at 30.76 on Wednesday. CAI International has a 12 month low of $6.75 and a 12 month high of $31.61. The firm has a 50 day moving average price of $29.36 and a 200-day moving average price of $23.21. The firm has a market capitalization of $589.67 million, a price-to-earnings ratio of 44.91 and a beta of 2.19.
CAI International (NYSE:CAI) last announced its earnings results on Wednesday, July 26th. The transportation company reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.09. CAI International had a return on equity of 4.13% and a net margin of 4.14%. The firm had revenue of $82.69 million during the quarter, compared to the consensus estimate of $85.18 million. During the same quarter in the prior year, the company earned $0.19 EPS. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. On average, equities analysts forecast that CAI International will post $2.32 EPS for the current year.
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In related news, Director Hiromitsu Ogawa sold 693,927 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of $26.60, for a total value of $18,458,458.20. Following the completion of the sale, the director now owns 712,433 shares in the company, valued at $18,950,717.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 24.50% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP bought a new position in CAI International during the first quarter valued at about $4,032,000. Ameriprise Financial Inc. raised its holdings in CAI International by 291.4% in the 1st quarter. Ameriprise Financial Inc. now owns 278,902 shares of the transportation company’s stock valued at $4,389,000 after acquiring an additional 207,639 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in CAI International by 9.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,295,357 shares of the transportation company’s stock valued at $20,389,000 after acquiring an additional 114,781 shares in the last quarter. James Investment Research Inc. acquired a new position in CAI International in the 2nd quarter valued at approximately $1,697,000. Finally, TIAA CREF Investment Management LLC raised its holdings in CAI International by 80.2% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 141,547 shares of the transportation company’s stock valued at $3,341,000 after acquiring an additional 62,988 shares in 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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