Textainer Group (NYSE:TGH) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Textainer Group (NYSE:TGH) in a research report released on Friday morning. The brokerage issued a hold rating on the transportation company’s stock.

Several other equities analysts have also weighed in on TGH. B. Riley lowered Textainer Group from a buy rating to a neutral rating and cut their target price for the company from $55.00 to $50.00 in a report on Monday, October 23rd. Keefe, Bruyette & Woods cut Textainer Group from an outperform rating to a market perform rating and upped their target price for the stock from $40.00 to $45.00 in a research report on Thursday, July 27th.

Textainer Group Trading Down 0.2 %

NYSE:TGH opened at $49.35 on Friday. The stock has a market cap of $2.09 billion, a PE ratio of 10.13 and a beta of 1.17. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.14 and a quick ratio of 1.14. The stock’s 50-day moving average is $42.09 and its two-hundred day moving average is $40.24. Textainer Group has a fifty-two week low of $28.84 and a fifty-two week high of $49.60.

Textainer Group Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Thursday, November 30th. Textainer Group’s dividend payout ratio (DPR) is currently 24.64%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in Textainer Group in the 3rd quarter valued at approximately $33,000. NBC Securities Inc. bought a new stake in Textainer Group in the 3rd quarter valued at $42,000. Adirondack Trust Co. acquired a new position in shares of Textainer Group in the 3rd quarter valued at $48,000. Point72 Hong Kong Ltd bought a new position in shares of Textainer Group during the 1st quarter worth about $53,000. Finally, Ellevest Inc. boosted its position in shares of Textainer Group by 198.3% during the 1st quarter. Ellevest Inc. now owns 2,079 shares of the transportation company’s stock valued at $67,000 after acquiring an additional 1,382 shares in the last quarter. Institutional investors own 44.28% of the company’s stock.

Textainer Group Company Profile

Textainer Group Holdings Limited, through its subsidiaries, engages in the purchase, ownership, management, leasing, and disposal of a fleet of intermodal containers worldwide. It operates through three segments: Container Ownership, Container Management, and Container Resale. The company's containers include standard and specialized dry freight, and refrigerated containers, as well as other special-purpose containers, which include tank, 45', pallet-wide, and other types of containers.