CAI International (CAI) Upgraded by Zacks Investment Research to “Buy”
CAI International (NYSE:CAI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday. The brokerage currently has a $25.00 price objective on the transportation company’s stock. Zacks Investment Research‘s price target indicates a potential upside of 8.27% from the stock’s previous close.
According to Zacks, “CAI INTERNATIONAL, INC. is one of the world’s leading intermodal freight container leasing and management companies. Intermodal freight containers are large, standardized steel boxes, which CAI leases primarily to international steamship companies, and are used to transport cargo by a number of means, including ship, truck and rail. A portion of the container fleet is owned by CAI with the balance being owned by third parties on whose behalf CAI manages the containers. Accordingly, CAI operates its business through two segments: container leasing and container fleet management. Through its international network of offices and agents CAI also has developed an active after-market program for containers retired from the international shipping fleet. “
A number of other equities analysts also recently weighed in on the stock. ValuEngine downgraded shares of CAI International from a “strong-buy” rating to a “buy” rating in a research note on Thursday, February 15th. Cowen decreased their target price on shares of CAI International from $46.00 to $40.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Wells Fargo & Co raised shares of CAI International from a “market perform” rating to an “outperform” rating and set a $35.00 target price for the company in a research note on Wednesday, February 14th. Finally, William Blair reaffirmed an “outperform” rating on shares of CAI International in a research note on Tuesday, February 6th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $33.20.
CAI International (NYSE:CAI) last announced its earnings results on Wednesday, February 14th. The transportation company reported $1.03 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.17. CAI International had a net margin of 20.68% and a return on equity of 11.69%. The business had revenue of $94.03 million during the quarter, compared to the consensus estimate of $95.66 million. During the same quarter last year, the firm earned ($0.09) earnings per share. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. equities research analysts expect that CAI International will post 3.89 EPS for the current fiscal year.
In other news, CFO Timothy B. Page sold 10,184 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $33.06, for a total transaction of $336,683.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director David G. Remington sold 4,040 shares of the stock in a transaction that occurred on Tuesday, December 5th. The shares were sold at an average price of $32.68, for a total transaction of $132,027.20. Following the sale, the director now owns 4,581 shares in the company, valued at approximately $149,707.08. The disclosure for this sale can be found here. In the last quarter, insiders have sold 25,824 shares of company stock worth $847,218. Corporate insiders own 24.50% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Acadian Asset Management LLC purchased a new stake in CAI International in the fourth quarter worth approximately $165,000. C M Bidwell & Associates Ltd. boosted its holdings in CAI International by 167.1% in the fourth quarter. C M Bidwell & Associates Ltd. now owns 7,560 shares of the transportation company’s stock worth $214,000 after purchasing an additional 4,730 shares during the last quarter. MetLife Investment Advisors LLC purchased a new stake in CAI International in the fourth quarter worth approximately $230,000. Alliancebernstein L.P. purchased a new stake in CAI International in the second quarter worth approximately $248,000. Finally, Voya Investment Management LLC purchased a new stake in CAI International in the second quarter worth approximately $253,000. Hedge funds and other institutional investors own 70.65% of the company’s stock.
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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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