Textainer Group Holdings Limited (TGH) Lifted to “Strong-Buy” at Zacks Investment Research
Zacks Investment Research upgraded shares of Textainer Group Holdings Limited (NYSE:TGH) from a hold rating to a strong-buy rating in a research note released on Thursday. Zacks Investment Research currently has $27.00 price objective on the transportation company’s stock.
According to Zacks, “TEXTAINER GROUP is the worlds largest lessor of intermodal containers with a total fleet of more than 1.3 million containers, representing over 2,000,000 TEU. They lease containers to more than 400 shipping lines and other lessees, including each of the world’s top 20 container lines. Yhey are also the primary supplier of leased containers to the U.S. Military. Their goal is to be the most reliable lessor of containers in locations where their customers need them. They have provided an average of more than 100,000 TEU of new containers per year for the past 10 years, and have been one of the largest purchasers of new containers among container lessors over the same period. They are also one of the largest sellers of used containers , having sold an average of more than 53,000 containers per year for the last five years. “
A number of other research firms also recently weighed in on TGH. Cowen and Company raised their price target on shares of Textainer Group Holdings Limited from $21.00 to $26.00 and gave the company an outperform rating in a report on Friday, November 10th. Wells Fargo & Company raised their price target on shares of Textainer Group Holdings Limited from $18.00 to $19.00 and gave the company a market perform rating in a report on Friday, October 20th. SunTrust Banks, Inc. restated a buy rating and set a $19.00 price target (up previously from $16.00) on shares of Textainer Group Holdings Limited in a report on Thursday, August 10th. Keefe, Bruyette & Woods restated a hold rating and set a $16.00 price target on shares of Textainer Group Holdings Limited in a report on Thursday, August 10th. Finally, BidaskClub upgraded shares of Textainer Group Holdings Limited from a buy rating to a strong-buy rating in a report on Tuesday, August 1st. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have issued a strong buy rating to the stock. Textainer Group Holdings Limited presently has a consensus rating of Buy and a consensus price target of $24.40.
Textainer Group Holdings Limited (TGH) traded down $0.40 during trading on Thursday, hitting $22.55. 352,622 shares of the stock were exchanged, compared to its average volume of 258,253. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 2.19. Textainer Group Holdings Limited has a fifty-two week low of $7.40 and a fifty-two week high of $24.10.
Textainer Group Holdings Limited (NYSE:TGH) last released its quarterly earnings results on Thursday, November 9th. The transportation company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.19. The business had revenue of $125.60 million for the quarter, compared to the consensus estimate of $122.87 million. Textainer Group Holdings Limited had a net margin of 0.38% and a negative return on equity of 0.44%. Textainer Group Holdings Limited’s revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.92) EPS. research analysts expect that Textainer Group Holdings Limited will post 0.33 EPS for the current year.
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Institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd bought a new position in Textainer Group Holdings Limited in the 3rd quarter worth $190,000. Voya Investment Management LLC bought a new position in Textainer Group Holdings Limited in the 2nd quarter worth $170,000. Cubist Systematic Strategies LLC raised its holdings in Textainer Group Holdings Limited by 240.5% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 12,925 shares of the transportation company’s stock worth $222,000 after acquiring an additional 9,129 shares during the period. Tudor Investment Corp ET AL bought a new position in Textainer Group Holdings Limited in the 2nd quarter worth $202,000. Finally, American International Group Inc. raised its holdings in Textainer Group Holdings Limited by 7.1% in the 1st quarter. American International Group Inc. now owns 13,970 shares of the transportation company’s stock worth $214,000 after acquiring an additional 926 shares during the period. Hedge funds and other institutional investors own 22.96% of the company’s stock.
Textainer Group Holdings Limited Company Profile
Textainer Group Holdings Limited is a holding company. The Company is involved in the purchase, ownership, management, leasing and disposal of a fleet of intermodal containers. The Company operates in three segments: Container Ownership, which owns containers; Container Management, which manages containers on behalf of affiliated and unaffiliated container investors, and provides acquisition, management and disposal services, and total managed containers, and Container Resale, which sells containers from its fleet when they reach the end of their useful lives in marine service, and also purchases and leases or resells containers from shipping line customers, container traders and other sellers of containers.
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